World Military Expenditure Report 2024

According to the Stockholm International Peace Research Institute report (SIPRI) ‘Trends in World Military Expenditure 2024’, India’s military expenditure grew to $86.1 billion, nearly nine times that of Pakistan.

• It is an annual report published by the leading Swedish think tank, the Stockholm International Peace Research Institute (SIPRI).
• It provides a comprehensive analysis of military spending across the globe.

• The global defence expenditures reached $2.46 trillion in 2024, an increase from $2.24 trillion in the previous year, bringing the average defence spending to 1.9% of global GDP, up from 1.6% in 2022 and 1.8% in 2023.
• India, the fifth biggest military spender in the world in 2024, increased its spending to $86.1 billion, up by 1.6 per cent from 2023 and by 42 per cent from 2015.
• 60 per cent of the world’s military spending came from only five countries – the USA (37 per cent), China (12 per cent), Russia (5.5 per cent), Germany (3.3 per cent), and India (3.2 per cent)
• Military spending increased in all world regions, with particularly rapid growth in both Europe and the Middle East, courtesy of the ongoing Ukraine-Russia war and Israel-Hamas conflict.
• Military spending by the USA rose by 5.7 per cent to reach $997 billion, which was 66 per cent of total NATO spending and 37 per cent of world military spending in 2024.
• Military expenditure in the Middle East reached an estimated $243 billion in 2024, an increase of 15 per cent from 2023, with Israel and Lebanon emerging as the biggest spenders in the region.
• India’s military spending in 2024 was nearly nine times that of Pakistan’s expenditure.