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☆ Global military spending saw its steepest spike in more than a decade, with the US vastly outspending everyone else
▼ + stars: | 2024-04-23 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Global military spending in 2023 rose to the highest levels ever recorded, analysts said. All five of the institute's defined geographical regions saw rises in military spending for the first time since 2009, with Europe, the Middle East, Asia, and Oceania recording particularly large increases, it said. This, in turn, has ramped up military spending. It also highlighted Ukraine, which ranked eighth in terms of overall defense spending, following a 51% year-on-year increase. At the same time, Israel saw its defense spending rise by 24% to reach $27.5 billion in 2023, mostly due to its large-scale offensive in Gaza, SIPRI's report found.

Persons: —, SIPRI, Nan Tian, Diego Herrera Carcedo, Lorenzo Scarazzato, spender, Israel Organizations: Global, Stockholm International Peace Research Institute, Service, International Crisis, Getty, NATO Locations: Stockholm, Europe, East, Asia, Oceania, Ukraine, Gaza, Ethiopia, Myanmar, Bakhmut, Donetsk Oblast, Anadolu, China

☆ Ukraine War Helped Push World Military Spending to 35-Year High, Study Says
▼ + stars: | 2024-04-22 | by ( Lara Jakes | ) www.nytimes.com time to read: +1 min

The study, by the Stockholm International Peace Research Institute, concluded that global military spending reached $2.4 trillion last year — a 6.8 percent increase from 2022. “The unprecedented rise in military spending is a direct response to the global deterioration in peace and security,” said Nan Tian, a senior researcher at the institute, which has tracked military expenditures since at least 1988. He described an “increasingly volatile geopolitical and security landscape.”Ukraine, in its first full year of war with Russia, devoted $64.8 billion to its military in 2023. That accounted for 58 percent of the government’s overall spending last year and 37 percent of the country’s gross domestic product. Only seven other countries spent more on military and defense costs than Ukraine in 2023, analysts found.

Persons: spender, ”, Nan Tian Organizations: Stockholm International Peace Research Institute Locations: Ukraine, Stockholm, Asia, United States, Russia

☆ Global military spending hit all-time high in 2023 after 7% jump, report finds
▼ + stars: | 2024-04-22 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

The figure marked a 6.8% increase from 2022 and the sharpest year-on-year jump since 2009, the institute said in a report on military spending trends. "The unprecedented rise in military spending is a direct response to the global deterioration in peace and security," Nan Tian, senior researcher in SIPRI's military expenditure and arms production programme, said in a statement. Military expenditure has been rising for nine years straight, and military spending bolstered in all regions of the world for the first time since 2009, the report found. Ukraine's military spending meanwhile totaled around $64.8 billion — around 59% the amount of Russia's spending, but 37% of Ukraine's GDP, the report said. Tensions in the Middle East also significantly contributed to the overall rise in global military spending, the report said.

Persons: Nan Tian, spender, Lorenzo Scarazzato, Donald Trump, Jens Stoltenberg Organizations: 1st Tank Brigade, Ukrainian Ground Forces, Getty Images, Stockholm International Peace Research Institute, Kyiv, NATO, U.S Locations: Ukraine, Stockholm, Central America, Caribbean, Russia, China, U.S, East, Israel, Gaza

STOCKHOLM (AP) — Many Western arms companies failed to ramp up production in 2022 despite a strong increase in demand for weapons and military equipment, a watchdog group said Monday, adding that labor shortages, soaring costs and supply chain disruptions had been exacerbated by Russia’s invasion of Ukraine. “Many arms companies faced obstacles in adjusting to production for high-intensity warfare,” said Lucie Béraud-Sudreau, director of the independent institute's Military Expenditure and Arms Production Program. SIPRI said the revenues of the 42 U.S. companies on the list — accounting for 51% of total arms sales — fell by 7.9% to $302 billion in 2022. Of those, 32 recorded a fall in year-on-year arms revenue, most of them citing ongoing supply chain issues and labor shortages stemming from the COVID-19 pandemic. ”However, despite the year-on-year drop, the total Top 100 arms revenue was still 14% higher in 2022 than in 2015 — the first year for which SIPRI included Chinese companies in its ranking.

Persons: ”, Lucie Béraud, SIPRI, Nan Tian, Lockheed Martin, ” SIPRI, Sudreau Organizations: STOCKHOLM, Stockholm International Peace Research Institute, Lockheed, Raytheon Technologies, ” Companies Locations: Ukraine, Stockholm, U.S, Asia, Israel, South Korea

☆ The US spent $877 billion on military in 2022, a new report says — more than 10 times federal education spending
▼ + stars: | 2023-04-25 | by ( Peter Gelling | ) www.businessinsider.com time to read: +3 min

The US spent $877 billion in 2022, which accounts for almost 40 percent of all spending. By comparison, the US federal government allocated just $76.4 billion for education in 2022. "In 2022 the USA allocated $295 billion to military operations and maintenance, $264 billion to procurement and research and development, and $167 billion to military personnel," the report says. Total global military spending reached an all-time high in 2022, the report found. The report found that, in real terms, European military spending had returned to levels not seen since the Cold War.

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