World military expenditure rose for the ninth consecutive year to an all-time high of $2.4tn. For the first time since 2009, military expenditures went up in all five of the geographical regions defined by the Stockholm International Peace Research Institute (SIPRI).
According to Nan Tian, a Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme, the unprecedented rise in military spending is a direct response to the global deterioration in peace and security.
"States are prioritising military strength, but they risk an action-reaction spiral in the increasingly volatile geopolitical and security landscape,” he said.
Estimated military expenditure in the Middle East increased by 9% to $200bn in 2023, the highest annual growth rate in the region in the past decade. Israel’s military spending—the second largest in the region after Saudi Arabia—grew by 24% to reach $27.5bn, mainly driven by Israel’s large-scale offensive in Gaza.
