Military Expenditure Reaches All-Time High: 2023 Data & Analysis
Global military spending hit a record $2.44 trillion in 2023, fueled by the war in Ukraine and rising geopolitical tensions. The US, China, and Russia led the spending surge.
The world witnessed an unprecedented surge in military spending in 2023, reaching a staggering $2.44 trillion, marking the ninth consecutive year of growth. This alarming increase, the steepest since 2009, was largely driven by the ongoing conflict in Ukraine, escalating geopolitical tensions, and a growing emphasis on military power as a solution to global challenges.
Key Findings
Record-Breaking Expenditure: Global military expenditure reached an all-time high of $2.44 trillion, surpassing the previous year's figures by 6.8%. This surge represents the largest year-on-year increase since 2009 and under...