Global military spending soared to record high in 2024

Global military expenditure surged to over $2.7 trillion in 2024, the highest level since the end of the Cold War, according to a new report. This represents a 9.4% increase from the previous year, driven primarily by European nations, including Russia, which saw significant rises in spending. Over 100 countries increased their military budgets. The United States remained the world's largest military spender, while countries like Germany, Poland, and Mexico also saw notable increases in their military expenditures.