Global military expenditure rose sharply in 2023, climbing 7% to a staggering $2.43 trillion, marking the steepest annual increase since 2009. This spike reflects a growing focus on military strength as international peace and security face heightened risks, according to a report by the Stockholm International Peace Research Institute (SIPRI).
The United States, China, and Russia topped the list of global military spenders in 2023, underscoring the growing competition among major world powers. Nan Tian, a senior researcher at SIPRI’s Military Expenditure and Arms Production Programme, highlighted the dangers of this trend, stating, “States are prioritising military strength but they risk an action–reaction spiral in the increasingly volatile geopolitical and security landscape.”
Russia’s military spending saw a significant increase, rising 24% to an estimated $109 billion. Ukraine, amid its ongoing conflict with Russia, increased its spending by 51% to $65 billion and received at least $35 billion in military aid from other countries. SIPRI noted that this aid, combined with Ukraine’s military expenditure, was equivalent to about 91% of Russia’s total spending.
NATO member countries accounted for 55% of global military expenditure, indicating a shift in security priorities in Europe following Russia’s invasion of Ukraine. Lorenzo Scarazzato, another SIPRI researcher, remarked, “For European NATO states, the past two years of war in Ukraine have fundamentally changed the security outlook. This shift in threat perceptions is reflected in growing shares of GDP being directed towards military spending, with the NATO target of 2% increasingly being seen as a baseline rather than a threshold to reach.”
While the United States remained the largest spender within NATO, increasing its military budget by 2% to $916 billion, most European NATO members also boosted their spending. SIPRI’s report noted that the percentage changes are expressed in real terms, using constant 2022 prices.
As military expenditures continue to rise, the world watches closely to understand the implications for international peace and security, with a growing emphasis on defence potentially leading to a more divided and tense global landscape.
