Global Military Spending Doubles Since the 1990s

Kokcha News Agency: Global military spending has surged over the past decades, more than doubling from its lowest point in the late 1990s. In 2024, global military expenditures reached $2.7 trillion, up from $1.2 trillion in the late 1990s.

The increase began in the 2000s, partly due to U.S. spending on the wars in Iraq and Afghanistan, pushing global expenditures to $2 trillion by 2010. After a period of stability, military spending has risen sharply in recent years, fueled by conflicts such as the war in Ukraine.

1. Historical Low:
   • Global military spending hit its lowest point in the late 1990s at $1.2 trillion.
2. Surge in the 2000s:
   • Spending increased significantly in the 2000s, driven by U.S. military operations in Iraq and Afghanistan, reaching $2 trillion by 2010.
3. Recent Spike:
   • In 2024, global military expenditures reached $2.7 trillion, with the war in Ukraine being a major contributing factor.

The rise in military spending reflects growing geopolitical tensions and conflicts worldwide. The war in Ukraine has particularly accelerated defense budgets in Europe and beyond, as nations prioritize security and defense capabilities.