Countries with the Largest Amount Spent on Military (2024)
Rank
Country
Spending ($ Billion)
% of GDP
World Share
1
United States
997
3.4%
37%
2
China
314
1.7%
12%
3
Russia
149
7.1%
5.5%
4
Germany
88.5
1.9%
3.3%
5
India
86.1
2.3%
3.2%
6
United Kingdom
81.8
2.3%
3.0%
7
Saudi Arabia
80.3
7.3%
3.0%
8
Ukraine
64.7
34%
2.4%
9
France
64.7
2.1%
2.4%
10
Japan
55.3
1.4%
2.0%
11
South Korea
47.6
2.6%
1.8%
12
Israel
46.5
8.8%
1.7%
13
Poland
38.0
4.2%
1.4%
14
Italy
38.0
1.6%
1.4%
15
Australia
33.8
1.9%
1.2%
16
Canada
29.3
1.3%
1.1%
17
Türkiye
25.0
1.9%
1.0%
18
Spain
24.6
1.4%
0.9%
19
Netherlands
23.2
1.9%
0.7%
20
Algeria
21.8
8.0%
0.7%
21
Brazil
20.9
1.0%
0.7%
22
Mexico
16.7
0.9%
0.6%
23
Taiwan
16.5
2.1%
0.5%
24
Colombia
15.1
3.4%
0.5%
25
Singapore
15.1
2.8%
0.4%
26
Sweden
12.0
2.0%
0.4%
27
Indonesia
11.0
0.8%
0.4%
28
Norway
10.4
2.1%
0.4%
29
Pakistan
10.2
2.7%
0.4%
30
Denmark
10.0
2.4%
0.3%
31
Romania
8.7
2.3%
0.3%
32
Belgium
8.6
1.3%
0.3%
33
Greece
8.0
3.1%
0.3%
34
Iran
7.9
2.0%
0.3%
35
Kuwait
7.8
4.8%
0.3%
36
Finland
7.0
2.3%
0.3%
37
Switzerland
6.7
0.7%
0.2%
38
Czechia
6.5
1.9%
0.2%
39
Iraq
6.2
2.4%
0.2%
40
Philippines
6.1
1.3%
0.2%
Key Insight: The top 40 countries account for 93% of all global military spending, leaving just 7% for the remaining 150+ nations. The United States alone accounts for 37% of global military spending, spending 3.2 times more than China, the second-largest spender
Global Military Spending Concentration
Grouping
Combined Spending
World Share
Top 2 (USA + China)
$1,311 billion
48%
Top 5
$1,635 billion
60%
Top 10
$1,981 billion
73%
Top 15
$2,185 billion
80%
Top 40
$2,521 billion
93%
Rest of World
$197 billion
7%
Key Insight: Just two countries, the United States and China, account for nearly half of all global military spending.
Year-on-Year Changes (2023-2024)
Country
2023-2024 Change
2015-2024 Change
Israel
+65%
+135%
Russia
+38%
+100%
Netherlands
+35%
+111%
Sweden
+34%
+113%
Poland
+31%
+159%
Germany
+28%
+89%
Japan
+21%
+49%
Denmark
+20%
+154%
Finland
+16%
+73%
Colombia
+14%
+35%
Key Insight: Israel experienced the largest year-on-year increase (+65%) among major spenders, driven by the Gaza conflict and escalation with Hezbollah.
Countries with the Highest Military Burden (% of GDP 2024)
Rank
Country
Military Spending as % of GDP
1
Ukraine
34.0%
2
Israel
8.8%
3
Algeria
8.0%
4
Saudi Arabia
7.3%
5
Russia
7.1%
6
Myanmar
6.8%
7
Oman
5.6%
8
Armenia
5.5%
9
Azerbaijan
5.0%
10
Kuwait
4.8%
Key Insight: Ukraine dedicates an extraordinary 34% of its GDP to military spending, more than four times higher than the second-highest country, Israel.
Military Spending by Region (2024)
Region
Spending ($ Billion)
Share of World
Change 2023-2024
Change 2015-2024
Americas
1,100
40%
+5.8%
+19%
Europe
693
26%
+17%
+83%
Asia & Oceania
629
23%
+6.3%
+46%
Middle East
243
9%
+15%
+19%
Africa
52.1
1.9%
+3.0%
+11%
Key Insight: Europe showed the largest regional increase (+17%), driven primarily by the Russia-Ukraine war, with spending now 83% higher than in 2015.
NATO Military Spending (2024)
Category
Value
Total NATO Spending
$1,506 billion
NATO Share of Global Spending
55%
European NATO Spending
$454 billion
European NATO Share of NATO Total
30%
US Share of NATO Spending
66%
Members Meeting 2% GDP Target
18 of 32
Average NATO Military Burden
2.2% of GDP
NATO Spending Per Capita
$1,528
Key Insight: Only 18 of 32 NATO members met the 2% of GDP defense spending target in 2024, up from just 11 in 2023.
European Military Spending Leaders (2024)
Country
Spending ($ Billion)
% of GDP
Change 2023-2024
Germany
88.5
1.9%
+28%
United Kingdom
81.8
2.3%
+2.8%
France
64.7
2.1%
+6.1%
Poland
38.0
4.2%
+31%
Italy
38.0
1.6%
+1.4%
Netherlands
23.2
1.9%
+35%
Spain
24.6
1.4%
+0.4%
Sweden
12.0
2.0%
+34%
Norway
10.4
2.1%
+17%
Denmark
10.0
2.4%
+20%
Key Insight: Germany has become Central and Western Europe’s largest military spender for the first time since reunification, with spending up 89% since 2015.
Asia-Pacific Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Change 2023-2024
China
314
1.7%
+7.0%
India
86.1
2.3%
+1.6%
Japan
55.3
1.4%
+21%
South Korea
47.6
2.6%
+1.4%
Australia
33.8
1.9%
+1.9%
Taiwan
16.5
2.1%
+1.8%
Singapore
15.1
2.8%
+3.0%
Indonesia
11.0
0.8%
-0.4%
Pakistan
10.2
2.7%
-5.1%
Key Insight: China has achieved 30 consecutive years of military spending growth, the longest unbroken streak recorded for any country in the SIPRI database.
Middle East Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Change 2023-2024
Saudi Arabia
80.3
7.3%
+1.5%
Israel
46.5
8.8%
+65%
Iraq
6.2
2.4%
+4.4%
Iran
7.9
2.0%
-10%
Kuwait
7.8
4.8%
-2.6%
Key Insight: Israel’s military spending surge of 65% in 2024 was the largest annual increase since the Six-Day War in 1967.
African Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Notable Change 2023-2024
Algeria
21.8
8.0%
+12%
Morocco
5.5
3.5%
+2.6%
South Africa
2.8
0.7%
-6.3%
Nigeria
4.9
0.6%
N/A
Angola
1.1
1.0%
N/A
Mali
0.65
4.2%
N/A
Burkina Faso
N/A
4.7%
N/A
Chad
0.56
3.0%
+43%
Key Insight: Algeria alone accounts for 90% of North African military spending and dedicates the highest share (21%) of government expenditure to defense of any African nation.
Sub-Saharan Africa Military Spending Trends
Metric
Value
2024 Total Spending
$21.9 billion
Change from 2023
-3.2%
Change from 2015
-13%
Largest Spender
South Africa ($2.8B)
South Africa 4-Year Trend
Declining (4 consecutive years)
Military Junta Countries
Spending Increase Since Takeover
Mali (coup 2021)
+38% (2020-2024)
Burkina Faso (coup 2022)
+108% (2021-2024)
Niger (coup 2023)
+56% (2022-2024)
Chad (ended French cooperation 2024)
+43% (2024 alone)
Key Insight: Military junta-ruled countries in the Sahel have dramatically increased defense spending while severing security ties with France.
South American Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Notable Change 2023-2024
Brazil
20.9
1.0%
-0.4%
Colombia
15.1
3.4%
+14%
Chile
5.0
1.6%
N/A
Argentina
0.93
0.6%
N/A
Peru
3.4
0.9%
N/A
Ecuador
2.4
2.2%
N/A
Venezuela
N/A
0.5%
N/A
Guyana
0.20
0.9%
+78%
Key Insight: Guyana recorded the world’s largest percentage increase in military spending (+78%) amid territorial tensions with Venezuela over the Essequibo region.
Central America & Caribbean Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Notable
Mexico
16.7
0.9%
+39% increase
Dominican Republic
0.81
0.8%
N/A
El Salvador
0.33
1.2%
N/A
Guatemala
0.41
0.4%
N/A
Honduras
0.41
1.6%
N/A
Subregion Totals
Value
2024 Total
$19.8 billion
Change 2023-2024
+31%
Change 2015-2024
+111%
Key Insight: Mexico’s 39% spending surge was driven by expanded funding for the militarized Guardia Nacional to combat organized crime.
Eastern European Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Notable Change 2023-2024
Russia
149
7.1%
+38%
Ukraine
64.7
34%
+2.9%
Belarus
1.08
2.1%
N/A
Moldova
1.71
0.6%
N/A
Georgia
0.50
1.9%
N/A
Armenia
1.7
5.5%
N/A
Azerbaijan
5.0
5.0%
N/A
Regional Total
Value
2024 Spending
$221 billion
Change 2023-2024
+24%
Change 2015-2024
+164%
Key Insight: Eastern European military spending reached its highest level since the breakup of the Soviet Union, with a 164% increase over the past decade.
Nordic & Baltic States Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Notable Change 2023-2024
Notable 10-Year Change
Sweden
12.0
2.0%
+34%
+113%
Norway
10.4
2.1%
+17%
+79%
Denmark
10.0
2.4%
+20%
+154%
Finland
7.0
2.3%
+16%
+73%
Estonia
1.46
3.4%
N/A
N/A
Latvia
1.14
3.3%
N/A
N/A
Lithuania
2.39
3.1%
N/A
+272%
Key Insight: Lithuania achieved the largest 10-year increase among NATO members at 272%. This reflects the Baltic states’ heightened threat perception from Russia.
Central European Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Notable Change 2023-2024
Notable 10-Year Change
Poland
38.0
4.2%
+31%
+159%
Romania
8.7
2.3%
+43%
+143%
Czechia
6.5
1.9%
+32%
+129%
Hungary
4.58
2.2%
N/A
N/A
Slovakia
2.66
2.0%
N/A
N/A
Bulgaria
1.37
2.1%
N/A
N/A
Key Insight: Romania recorded the highest year-on-year increase (+43%) among NATO members in 2024, nearly tripling its budget since 2015.
South East Asian Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Per Capita (USD)
Singapore
15.1
2.8%
$2,591
Indonesia
11.0
0.8%
$39
Thailand
5.9
1.1%
$77
Vietnam
N/A
1.8% (2018)
N/A
Philippines
6.1
1.3%
$53
Malaysia
4.8
1.0%
$122
Myanmar
5.0
6.8%
$92
Cambodia
0.86
1.5%
$41
Brunei
N/A
3.6%
$1,212
Regional Total
Value
2024 Spending
$54.9 billion
Change 2023-2024
+7.5%
Change 2015-2024
+27%
Key Insight: Despite its small population, Singapore spends more on defense than Indonesia, the region’s most populous nation, and has the highest per capita spending in Southeast Asia.
Oceania Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Per Capita (USD)
Australia
33.8
1.9%
$1,272
New Zealand
3.0
1.2%
$577
Fiji
N/A
1.3%
$84
Papua New Guinea
N/A
0.3%
$9
Regional Total
Value
2024 Spending
$37.0 billion
Change 2023-2024
+1.5%
Change 2015-2024
+26%
Key Insight: Australia accounts for over 91% of Oceania’s military spending and is a key partner in the AUKUS submarine alliance with the US and UK.
Caucasus Region Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Azerbaijan
5.0
5.0%
Armenia
1.7
5.5%
Georgia
0.50
1.9%
Key Insight: Despite losing the 2020 Nagorno-Karabakh war, Armenia maintains the highest military burden (5.5% of GDP) in the Caucasus region.
Gulf Cooperation Council Military Spending (2024)
Country
Spending ($ Billion)
% of GDP
Per Capita (USD)
Saudi Arabia
80.3
7.3%
$2,387
United Arab Emirates
N/A
5.6% (2014)
N/A
Kuwait
7.8
4.8%
$1,596
Qatar
N/A
6.5% (2022)
N/A
Oman
N/A
5.6%
$1,159
Bahrain
N/A
2.9%
$872
Key Insight: Gulf states maintain some of the world’s highest military burdens, with Saudi Arabia alone spending more than the entire African continent combined.
Countries with Lowest Military Spending (% of GDP) – 2024
Country
% of GDP
Haiti
0.1%
Mauritius
0.1%
Iceland
0% (No military)
Costa Rica
0% (No military)
Panama
0% (No military)
Ireland
0.2%
Papua New Guinea
0.3%
Ghana
0.4%
Guatemala
0.4%
Zimbabwe
0.4%
Kazakhstan
0.4%
Malta
0.5%
Nicaragua
0.5%
Venezuela
0.5%
Key Insight: Three countries, Iceland, Costa Rica, and Panama, have no standing military forces at all.
Military Spending Per Capita (2024) – Top Countries
Country
Per Capita Spending (USD)
Israel
4,988.8
United States
2,895.1
Singapore
2,591.4
Saudi Arabia
2,386.5
Norway
1,880.2
Ukraine
1,728.2
Kuwait
1,595.6
Denmark
1,669.8
Australia
1,272.3
Brunei
1,211.7
Key Insight: Israel spends nearly $5,000 per person annually on defense, 72% more than the United States per capita.
Decade of Growth (2015-2024) – Fastest Growing
Country
10-Year Change (2015-2024)
Ukraine
+1,251%
Poland
+159%
Denmark
+154%
Romania
+143%
Israel
+135%
Mexico
+129%
Czechia
+129%
Sweden
+113%
Netherlands
+111%
Türkiye
+110%
Key Insight: Ukraine’s military spending increased by an astonishing 1,251% over the past decade. This shows the devastating impact of Russia’s invasion.
Global Military Spending Trends (1988-2024)
Year
World Total ($ Billion – Constant 2023)
1988
1,749.5
1995
1,220.7
2000
1,248.1
2005
1,621.8
2010
2,003.2
2015
1,955.3
2020
2,200.4
2022
2,294.5
2023
2,447.4
2024
2,676.5
Key Insight: Global military spending has increased by 37% over the past decade (2015-2024), reaching the highest level ever recorded by SIPRI.
Military Aid to Ukraine (2024)
Donor Country
Financial Military Aid ($ Billion)
United States
48.4
Germany
7.7
United Kingdom
3.3
France
3.0
Sweden
2.4 (2024-2026 total)
Key Insight: Ukraine received at least $60 billion in financial military aid in 2024; if included in Ukraine’s total, it would rank as the 4th largest military spender globally.
US Military Spending Breakdown (2024)
Category
Amount ($ Billion)
Department of Defense
887 (89% of total)
Supplemental Spending
72.8
Nuclear Modernization
37.7
Missile Defense
29.8
Ukraine Support
48.4
Israel Support
10.6
F-35 Systems
61.1
Naval Vessels
48.1
Indo-Pacific (incl. Taiwan)
2.6
Key Insight: The US allocated $246 billion toward “integrated deterrence” in 2024, including nuclear modernization and missile defense systems.
Countries That Decreased Military Spending (2024)
Country
Change 2023-2024
Iran
-10%
Pakistan
-5.1%
Kuwait
-2.6%
Brazil
-0.4%
Indonesia
-0.4%
Key Insight: Iran’s 10% decrease was largely due to persistent high inflation stemming from US economic sanctions affecting oil exports.
The Cost Comparison (Military vs Development)
Comparison
Amount
2024 Global Military Spending
$2.7 trillion
Cost to Eliminate Extreme Poverty
~$300 billion
Annual UN Regular Budget
$3.6 billion
2024 OECD Development Assistance
~$207 billion
Annual Gap for SDGs
$4 trillion
Cost to End Hunger by 2030 (annual)
$93 billion
Cost to Vaccinate Every Child
$285 billion
Key Insight: Global military spending is 750 times the UN’s annual budget and could eliminate extreme poverty nine times over with just the 2024 expenditure.
Military Spending Per Capita – Regional Comparison (2024)
Region/Country
Per Capita (USD)
World Average
$334
NATO Average
$1,528
United States
$2,895
Israel
$4,989
Singapore
$2,591
Saudi Arabia
$2,387
Norway
$1,880
Ukraine
$1,728
Australia
$1,272
Germany
$1,044
Russia
$1,026
France
$973
South Korea
$920
Japan
$446
China
$221
India
$60
Pakistan
$41
Key Insight: Despite having the world’s largest military by personnel, China spends only $221 per capita compared to $2,895 in the United States.
Military Spending Per Capita Growth (1988-2024 Selected Countries)
Country
1988
2000
2015
2024
Change 1988-2024
United States
$1,252
$1,143
$1,953
$2,895
+131%
China
N/A
$18
$141
$221
N/A
Russia
N/A
$63
$458
$1,026
N/A
Germany
$421
$323
$468
$1,044
+148%
Japan
$231
$359
$331
$446
+93%
South Korea
$181
$296
$720
$920
+408%
India
$14
$14
$39
$60
+329%
Israel
$1,638
$1,381
$2,064
$4,989
+205%
Poland
$47
$82
$267
$982
+1,989%
Ukraine
N/A
$23
$76
$1,728
N/A
Key Insight: Poland’s per capita military spending increased by nearly 2,000% since 1988, the largest growth among major European powers.
Russia’s Military Spending Breakdown (2024)
Category
Value
Total Estimated Spending
$149 billion
Share of GDP
7.1%
Share of Government Budget
19%
Classified Budget Spending
~30%
Year-on-Year Increase
+38%
10-Year Increase (2015-2024)
+100%
Social/Personnel Payments (by Oct 2024)
$9.4 billion
Originally Budgeted Personnel Payments
$5.7 billion
Key Insight: Russia’s actual military spending is likely higher than $149 billion due to classified allocations and additional October 2024 budget amendments.
Ukraine’s War Economy (2024)
Metric
Value
Military Spending
$64.7 billion
Share of GDP
34%
Share of Government Spending
54%
Tax Revenue Absorbed by Military
100%
Comparison to Russia’s Spending
43% of Russia’s total
Foreign Military Aid Received
$60+ billion
If Aid Included in Total
$125 billion (4th globally)
Budget Allocation (Initial 2024)
Percentage
Personnel
74%
Procurement & Hardware Repair
23%
Other
3%
Key Insight: All of Ukraine’s tax revenues are fully absorbed by military spending; all non-military government functions are funded entirely by foreign aid.
Japan’s Military Transformation (2024)
Metric
Value
2024 Spending
$55.3 billion
Year-on-Year Increase
+21%
10-Year Increase
+49%
Military Burden
1.4% of GDP
Highest Burden Since
1958
Largest Annual Increase Since
1952
Long-Range Strike & Air Defense
$13 billion
US Long-Range Land-Attack Missiles
Included
Key Insight: Japan’s 21% annual increase is its largest since 1952, marking a historic shift in its post-WWII defense posture.
Israel’s War Spending Surge (2024)
Metric
Value
Total 2024 Spending
$46.5 billion
Year-on-Year Increase
+65%
10-Year Increase
+135%
Military Burden
8.8% of GDP
2023 Military Burden
5.4% of GDP
Initial 2024 Budget
$37.1 billion
Final 2024 Spending
$45.6 billion
December 2024 Spending Alone
$5.7 billion
Largest Annual Increase Since
Six-Day War (1967)
Key Insight: Israel spent $5.7 billion on defense in December 2024 alone—more than many countries spend in an entire year.
Countries Meeting NATO 2% GDP Target (2024)
Country
% of GDP
Status
Poland
4.2%
✓ Exceeds
Estonia
3.4%
✓ Exceeds
United States
3.4%
✓ Exceeds
Latvia
3.3%
✓ Exceeds
Greece
3.1%
✓ Exceeds
Lithuania
3.1%
✓ Exceeds
Romania
2.3%
✓ Meets
United Kingdom
2.3%
✓ Meets
Finland
2.3%
✓ Meets
Denmark
2.4%
✓ Meets
Hungary
2.2%
✓ Meets
Norway
2.1%
✓ Meets
France
2.1%
✓ Meets
North Macedonia
2.1%
✓ Meets
Sweden
2.0%
✓ Meets
Slovakia
2.0%
✓ Meets
Türkiye
1.9%
✗ Below
Germany
1.9%
✗ Below
Netherlands
1.9%
✗ Below
Czechia
1.9%
✗ Below
Croatia
1.8%
✗ Below
Montenegro
1.8%
✗ Below
Italy
1.6%
✗ Below
Portugal
1.5%
✗ Below
Albania
1.9%
✗ Below
Belgium
1.3%
✗ Below
Canada
1.3%
✗ Below
Slovenia
1.3%
✗ Below
Spain
1.4%
✗ Below
Luxembourg
1.0%
✗ Below
Key Insight: 18 of 32 NATO members met the 2% GDP target in 2024, up from only 11 in 2023—the highest number since the guideline was introduced in 2014.
Military Spending as Share of Government Expenditure (2024)
Country
% of Government Budget
Ukraine
54%
Algeria
21%
Russia
19%
United States
9.1%
NATO Average
4.9%
World Average
7.1%
Luxembourg (NATO lowest)
2.0%
Key Insight: Ukraine dedicates 54% of its entire government budget to military spending, more than double any other country.
Historical Military Spending Peaks & Troughs
Event/Period
Global Spending Level
Cold War Peak (1988)
$1,749 billion
Post-Cold War Low (1995)
$1,221 billion
Post-9/11 Surge (2010)
$2,003 billion
Pre-Ukraine War (2021)
$2,223 billion
2024 (Current Record)
$2,718 billion
Year-on-Year Records
Value
Largest % Increase Since 1988
2024 (+9.4%)
Consecutive Years of Increase
10 (2015-2024)
Key Insight: The 2024 global military expenditure of $2.718 trillion is 56% higher than the post-Cold War low point in 1995.
Myanmar’s Military Spending Amid Civil War (2024)
Metric
Value
2024 Spending
$5.0 billion
Year-on-Year Increase
+66%
Military Burden
6.8% of GDP
Highest Burden in Asia-Pacific
Yes
Largest YoY % Increase in Asia-Pacific
Yes
Share of Government Spending
29% (up from 16%)
Key Insight: Myanmar diverted government spending from 16% to 29% toward military as the ruling junta battles rebel groups across the country.
AUKUS Partnership Spending (2024)
Country
Spending ($ Billion)
US Allocation to AUKUS
United States
997
$3.3 billion (submarine industrial base)
United Kingdom
81.8
Part of overall budget
Australia
33.8
Part of overall budget
AUKUS Total
$1,112.6 billion
N/A
Key Insight: The US allocated $3.3 billion specifically to its submarine industrial base to support the AUKUS trilateral security partnership.
Countries with Fastest Military Spending Decline (2015-2024)
Country
10-Year Change
Iraq
-41%
Saudi Arabia
-20%
Brazil
-14%
Pakistan
-0.7%
Key Insight: Iraq’s military spending fell 41% over the decade despite ongoing regional instability, reflecting fiscal constraints and changing security priorities.
What $2.7 Trillion Spent on 2024 Could Fund Instead
Alternative Use
Cost
Times Coverable by 2024 Military Spending
End Extreme Poverty
$300 billion/year
9x
UN Annual Budget
$3.6 billion
750x
End Hunger by 2030
$93 billion/year
29x
Vaccinate Every Child
$285 billion
9.5x
Climate Adaptation (Developing World)
$387 billion
7x
SDG Annual Financing Gap
$4 trillion
0.68x
Jobs Created per $1 Billion
Number
Military Sector
11,200
Healthcare
17,200
Clean Energy
16,800
Education
26,700
Key Insight: $1 billion invested in education creates 2.4 times more jobs than the same amount spent on the military.
European Military Aid Pledges to Ukraine
Country
Pledge/Commitment
United Kingdom
$3.8 billion/year until 2030
Germany
$7.7 billion (2024 actual)
France
Up to $3.0 billion (2024)
Sweden
$2.4 billion (2024-2026 total)
Key Insight: The UK has committed to supporting Ukraine with $3.8 billion annually in military aid until at least 2030, the longest-term commitment among European allies.
Key Future Milestones
Year
Milestone
2027
Canada pledged to reach 2% of GDP
2027
UK pledged to reach 2.5% of GDP
2027
Japan’s military build-up plan completion
2027
All NATO members expected to meet 2% target
2030
UK military aid to Ukraine commitment ends
2030
SDG deadline (currently off-track)
2035
NATO 5% of GDP target deadline
2035
China’s military modernization target
2035
Global spending projected at $6.6 trillion
Key Insight: The year 2035 emerges as a critical inflection point with NATO’s 5% target, China’s modernization goal, and projected global spending of $6.6 trillion all converging.
Global Military Spending Projections (2035)
Year
Projected Spending
Notes
2024 (Actual)
$2.7 trillion
Current record high
2035 (Projected)
$6.6 trillion
If current trends persist
Growth Required
+144%
Over 11 years
Average Annual Growth Needed
~8.5%
To reach 2035 projection
Key Insight: If current trends continue, global military spending will more than double from $2.7 trillion to $6.6 trillion by 2035.
NATO 5% GDP Target Scenarios (By 2035)
Scenario
European NATO Spending
Difference from 2024 Actual
2024 Actual Spending
$454 billion
Baseline
If All Met 2% Target
$487.7 billion
+$33.7 billion (+7.4%)
If All Met 5% Target
$1,117 billion
+$663 billion (+146%)
Key Insight: For European NATO members to reach 5% of GDP, they would need to spend $663 billion MORE than their 2024 levels, nearly tripling their current budgets.
Projected Growth by Region (If Trends Continue)
Region
2024 Spending
10-Year Growth Rate (2015-2024)
Projected 2034 (If Trend Continues)
Europe
$693 billion
+83%
$1,268 billion
Asia & Oceania
$629 billion
+46%
$918 billion
Americas
$1,100 billion
+19%
$1,309 billion
Middle East
$243 billion
+19%
$289 billion
Africa
$52 billion
+11%
$58 billion
World Total
$2,718 billion
+37%
$3,723 billion
Key Insight: If Europe maintains its current growth trajectory (+83% per decade), it will nearly double its military spending to over $1.2 trillion by 2034.
China’s Military Modernization Target
Metric
Value
Modernization Target Year
2035
Goal
Full military modernization across all domains
Consecutive Years of Growth
30 (longest streak recorded)
2024 Year-on-Year Increase
+7.0%
10-Year Increase (2015-2024)
+59%
Projected 2035 Spending (If 7% Annual Growth)
~$670 billion
2024 Capability Developments
Status
New Stealth Combat Aircraft
Unveiled
New UAVs (Drones)
Unveiled
New Underwater Drones
Unveiled
Separate Aerospace Force
Established
Separate Cyberspace Force
Established
Nuclear Arsenal Expansion
Ongoing rapid expansion
Key Insight: If China maintains its current 7% annual growth rate, its military budget could exceed $670 billion by its 2035 modernization target, more than double its 2024 spending.
SDG Funding Gap vs Military Spending Trajectory
Year
Projected Military Spending
SDG Annual Funding Gap
2024
$2.7 trillion
$4.0 trillion
2030
~$4.0 trillion (projected)
$6.4 trillion (projected)
2035
$6.6 trillion (projected)
N/A
Comparison
Value
2024 Military Spending
$2.7 trillion
2024 SDG Gap
$4.0 trillion
Military as % of SDG Gap
68%
2030 SDG Gap (Projected)
$6.4 trillion
Redirecting 15% of Military Spending Could Fund
Climate adaptation in developing world ($387B)
Key Insight: By 2030, military spending is projected to reach $4 trillion while the SDG funding gap widens to $6.4 trillion. This means the world will spend nearly as much on arms as it needs to achieve sustainable development.
References
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