India’s military expenditure reached $86.1 billion last year—almost nine times that of Pakistan, which spent $10.2 billion in the same period, according to the Stockholm International Peace Research Institute (Sipri), an independent global institute researching conflict, armaments, arms control and disarmament.

India’s spending was a 1.6% increase from the previous year, making it the fifth largest military spender globally.

The data comes as tensions between the rival countries flared up after the 22 April Pahalgam terrorist attack that left at least 26 people dead.

Globally, military spending increased for the 10th consecutive year, reaching a record $2,718 billion in 2024. This represented 2.5% of global GDP.

More than 100 countries increased their military budgets last year, according to Sipri.

The US, China, Russia, Germany, and India were the top five military spenders in 2024, together making up 60% of global military expenditure with a combined total of $1,635 billion.

Asia-Pacific

China, the second largest spender, increased its budget by 7% to $314 billion, continuing a 30-year trend of consistent military growth.

Meanwhile, Japan raised its expenditure by 21% to $55.3 billion, while Taiwan increased spending by 1.8% to $16.5 billion.“Major military spenders in the Asia–Pacific region are investing increasing resources into advanced military capabilities,” said Nan Tian, director of the Sipri Military Expenditure and Arms Production Programme. “With several unresolved disputes and mounting tensions, these investments risk sending the region into a dangerous arms-race spiral.”

Europe

Military spending in Europe, including Russia, grew by 17% to $693 billion—the most significant regional increase and a main contributor to the global rise. All European countries, except Malta, increased their defense budgets.

Russia’s expenditure rose by 38% to $149 billion, accounting for 7.1% of its GDP. On the other hand, Ukraine, which is at war with Russia, spent $64.7 billion, equivalent to 34% of its GDP.

“Russia once again significantly increased its military spending, widening the spending gap with Ukraine,” said Diego Lopes da Silva, Senior Researcher at SIPRI. “Ukraine currently allocates all of its tax revenues to its military. In such a tight fiscal space, it will be challenging for Ukraine to keep increasing its military spending.”

Central and Western Europe witnessed sharp increases, with Germany increasing its military budget by 28% to $88.5 billion—becoming the largest spender in the region and fourth largest globally. Poland increased its spending by 31% to $38 billion.

“For the first time since reunification Germany became the biggest military spender in Western Europe, which was due to the €100 billion special defence fund announced in 2022,” said Sipri researcher Lorenzo Scarazzato. “The latest policies adopted in Germany and many other European countries suggest that Europe has entered a period of high and increasing military spending that is likely to continue for the foreseeable future.”

Collectively, NATO member states spent $1,506 billion in 2024, accounting for 55% of global military expenditure. Eighteen of the bloc’s 32 members met or exceeded the 2% of GDP spending target—up from 11 in 2023.

Elsewhere, the UK raised its military budget by 2.8% to $81.8 billion, while France spent $64.7 billion—a 6.1% increase. Sweden’s spending grew by 34% to $12 billion in its first year as a NATO member.

United States

The US continued to remain the world’s top spender, increasing its military budget by 5.7% to $997 billion, or 37% of the global total. A large portion of the U.S. budget was allocated toward modernizing its military and nuclear arsenal.

“The rapid spending increases among European NATO members were driven mainly by the ongoing Russian threat and concerns about possible US disengagement within the alliance,” said Sipri researcher Jade Guiberteau Ricard. “It is worth saying that boosting spending alone will not necessarily translate into significantly greater military capability or independence from the USA. Those are far more complex tasks.”

Middle East

Turning towards the Middle East, the region’s military expenditure rose by 15% to $243 billion. Saudi Arabia remained the largest spender in the Middle East with an estimated $80.3 billion, although its spending is still 20% lower than its 2015 peak.

Israel recorded a 65% jump in spending, reaching $46.5 billion—the sharpest annual increase since 1967—due to its operations in Gaza and conflict with Hezbollah.

Lebanon increased its military budget by 58% to $635 million.

Iran’s military spending dropped by 10% to $7.9 billion, which was restricted due to economic sanctions.