2024 Global Military Spending Hit $2.7 Trillion In Record Surge. Here’s Why

Global military spending hit $2.7 trillion in 2024, the steepest rise since the Cold War ended, with a 9.4% increase from 2023. Europe saw unprecedented growth at 17%, with Germany becoming the region’s biggest spender. Russia increased spending by 38%, while Israel’s surged 65% amid the Gaza conflict. The US remains the top spender at $997 billion, representing 37% of global military expenditure.READ FULL