According to new data from the Stockholm International Peace Research Institute (SIPRI), governments spent a total of €2.47 trillion on military expenditures—the highest amount ever recorded.
While U.S. military spending declined, Europe led the armament surge: Spain’s defense budget soared by 50%, Germany’s by 24%, and Poland’s by 23%. Together, NATO countries accounted for €1.35 trillion, or 55% of global spending.
The top three military spenders—the U.S., China, and Russia—accounted for 51% of global spending.
European governments blame Russia for the surge, but the increase is also driven by Europe’s hegemonic ambitions. The European arms industry logged record profits last year amid growing domestic production.
Worldwide military expenditures returned to the 2009 high of 2.5% of GDP, a shift that threatens to displace essential social services, development programs, and climate initiatives. Based on a review of pending orders, SIPRI assesses that the trend will continue through 2026.
