Global military expenditure soared to an unprecedented $2.4 trillion in 2023, marking a 4% increase from the previous year, according to the latest data from the Stockholm International Peace Research Institute (SIPRI). This surge was driven by escalating geopolitical tensions and ongoing conflicts in several regions, particularly between major powers like the United States, China, and Russia.
The United States continued to dominate global military spending, with a staggering defense budget of $916 billion. This represented 37% of total world expenditure on defense. U.S. spending grew by 2.3% compared to 2022, as the country invested heavily in advanced military technologies and systems designed to counter emerging threats. A key focus for the U.S. has been on research, development, testing, and evaluation (RDT&E), reflecting its shift towards preparing for high-tech warfare against adversaries with advanced capabilities, such as China and Russia.
In addition to its own defense spending, the U.S. was the largest provider of military aid to Ukraine in 2023, allocating $25.4 billion in assistance as part of its response to the ongoing war with Russia. This aid played a significant role in supporting Ukraine’s defense efforts, contributing to its substantial military budget increase during the year.
China, the second-largest military spender, increased its defense budget by 6%, bringing its total expenditure to $296 billion in 2023. Although China’s defense spending has risen consistently for 29 years, the pace of growth has moderated in recent years. Nonetheless, China’s military budget remains a key driver of defense spending trends in the Asia-Pacific region. China’s neighbors, including Japan, South Korea, and India, have also ramped up their own military capabilities in response to Beijing’s growing influence and assertiveness in territorial disputes.
Russia, facing the ongoing war in Ukraine, boosted its military spending by 24%, bringing its defense budget to $109 billion. Russia’s military expenditure in 2023 was equivalent to 5.9% of its GDP, underscoring the significant burden of defense spending on the country’s economy. The war has also reshaped Russia’s military priorities, as it seeks to maintain its strategic influence despite mounting economic pressures.
Ukraine, however, saw the most dramatic increase in military spending. Its defense budget surged by 51%, reaching $64.8 billion, which made it the eighth-largest military spender globally. In 2023, military expenditure accounted for an astounding 37% of Ukraine’s GDP, as the country continued to invest heavily in its defense to counter the ongoing Russian invasion. Ukraine’s rise in the global ranking reflects the critical role military resources play in its fight for sovereignty.
The SIPRI report also sheds light on the changing dynamics of global peacekeeping efforts. The number of personnel deployed in multilateral peace operations fell by 13% in 2023, bringing the total to 100,568—the lowest in a decade. The decline was most pronounced in Africa, where several peacekeeping missions were scaled down. Despite these reductions, the United Nations continues to play a leading role in global peace operations. However, regional organizations have increasingly stepped in to address conflicts, particularly in regions where multilateral approaches have struggled to achieve lasting peace.
As global military spending reaches new heights, the SIPRI report emphasizes the growing focus on defense and security in an increasingly volatile international environment. With geopolitical tensions simmering in regions like Eastern Europe and the Indo-Pacific, many countries are prioritizing military investments to safeguard their interests and bolster their strategic positions.