Global military spending rose 2.9% in 2025 to nearly $2.9 trillion, driven mainly by sharp increases in Europe and Asia, according to a new report from the Stockholm International Peace Research Institute (SIPRI).

The figure marks the highest share of global GDP spent on the military since 2009, at around 2.5%, with Europe and Asia-Oceania recording the fastest growth in defence budgets.

European military spending jumped 14% to $864 billion, while Asia-Oceania rose 8.1% to $681 billion, reflecting growing regional tensions and increased investment in defence capabilities.

The United States, China, Russia, Germany and India remained the world’s biggest military spenders, collectively accounting for 58% of global expenditure. The United States remained the largest single spender at $954 billion, followed by China at $336 billion and Russia at $190 billion.

The report noted that overall growth slowed compared to 2024, when spending rose by 9.7%, partly due to changes in US foreign military assistance allocations.

However, excluding US figures, global defence spending still increased by 9.2%, highlighting broad-based growth across other regions.

SIPRI said NATO members in Europe recorded their fastest spending increases in decades, with countries including Belgium, Spain, Norway, Denmark, Germany, Poland and Canada significantly raising defence budgets.

In Asia, Japan increased military spending by 9.7% to $62.2 billion, reaching its highest share of GDP since 1958.

Analysts linked the rise to regional security concerns and uncertainty over long-term US support.

Taiwan also saw a 14.2% increase in defence spending, its largest rise in decades, while China continued its multi-year expansion, increasing military expenditure by 7.4% as it advances long-term modernisation goals.

India, driven by regional tensions, raised its defence budget by 8.9% to $92.1 billion, ranking it among the top five global spenders.

SIPRI researchers said rising global insecurity and long-term military planning targets suggest defence spending is likely to continue increasing into 2026 and beyond.