The Stockholm International Peace Research Institute (SIPRI) reported that world military spending rose to a record high of $2.24 trillion in 2022, with Europe experiencing its largest annual increase in three decades. Russia's military spending rose by an estimated 9.2% and Ukraine's rose by 640% in the same year.
Global military spending reached a new high in 2022, with Europe seeing its sharpest increase in 30 years. India emerged as the 4th largest military spender, but still lags behind the US and China. Read on for analysis on rising military expenditure, its implications for the security environment, and trends in military spending by region and country.