World military spending grew for the eighth consecutive year in 2022 to an all-time high of $2.24 trillion, an increase of 3.7% compared to 2021. Military expenditure in Europe saw its steepest year-on-year increase (+13%) in at least 30 years and was largely accounted for by Russian and Ukrainian spending.
The three largest spenders in 2022 — the United States, China and Russia — accounted for 56% of the world total, according to new data by the Stockholm International Peace Research Institute (SIPRI).
“The continuous rise in global military expenditure in recent years is a sign that we are living in an increasingly insecure world”, according to Nan Tian, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme.
“States are bolstering military strength in response to a deteriorating security environment, which they do not foresee improving in the near future.”
