Defense spending and arms trade - statistics & facts
Global military expenditure entered a new era of rapid escalation in 2024. Worldwide defense spending reached approximately 2.7 billion U.S. dollars in 2024, marking the tenth consecutive year of growth and the steepest year-on-year increase since the end of the Cold War. Rising geopolitical tensions, including the ongoing  Russia-Ukraine war, alongside rivalries in Asia and the Middle East have compelled governments worldwide to dramatically expand their defense budgets, making defense one of the fastest-growing areas of public expenditure globally.
