In 2024, global military spending increased by 7.4% and amounted to $2.46 trillion.

In 2024, global military spending reached $2.46 trillion, an increase of 7.4 percent from the previous year.

This data was presented by the International Institute for Strategic Studies (IISS), noting that the reason is the Ukrainian conflict.

The leader in defense spending is again the United States, with more than $960 billion. In Europe, total defense spending has increased by 11.7% over the past year, reaching $457 billion.

The regional growth was driven by a 23.2% increase in Germany's defense budget. The country overtook the United Kingdom to become the second-largest defense spender among NATO countries. Germany's military budget reached $86 billion last year.

Some other NATO countries significantly exceed the defense spending target set by the organization.

In January, US President Donald Trump announced that the minimum spending level for NATO members should increase to 5% of GDP. NATO Secretary General Mark Rutte also called for increased defense spending.