Global Military Expenditure Reaches New High in 2022, with Steepest Increase in Europe in 30 Years: SIPRI Report

Global military expenditure reached an all-time high of $2240 billion in 2022, with a 3.7% increase in real terms, according to new data published by the Stockholm International Peace Research Institute (SIPRI). The United States, China, and Russia were the three largest spenders, accounting for 56% of global military spending. Europe saw its steepest year-on-year increase in military spending in over 30 years, with Russia and Ukraine leading the way. The ongoing conflict in Ukraine and escalating tensions in East Asia continued to drive increased military spending. The report also highlighted Japan’s increased military spending and a loosening of post-war restraints on its military capabilities.