The Stockholm International Peace Research Institute (SIPRI) has published its annual report on global military expenditures. According to the report, the global defense budget will reach a record high of $2.887 trillion in 2025. This represents a 2,9% increase over the 2024 target and marks the eleventh consecutive year of growth.

The United States remains the leader in the rankings, with defense spending amounting to $954 billion. Although this is 7,5% below 2024 levels, analysts attribute the decline to the fact that no new financial military aid packages for Ukraine were approved during the year. However, the decline is expected to be short-lived—the already approved 2026 budget exceeds $1 trillion.

China ranks second with $336 billion. Beijing's annual growth was 7,4%, marking its 31st consecutive annual increase. Russia rounds out the top three with $190 billion. In 2025, the country increased its military spending by 5,9%.

The top five largest military budgets also included Germany ($114 billion) and India ($92 billion). For the first time since 1990, Germany exceeded NATO's 2% of GDP target, spending 2,3% of its national income on the military. India strengthened its defenses in anticipation of the conflict with Pakistan in May 2025, increasing its spending by 8,9%.