Stockholm, April 28 -- Amid the major global conflicts, including the Russia-Ukraine war, and the Israel-Palestine conflict, world military expenditure reached USD 2718 billion in 2024, an increase of 9.4 per cent in real terms from 2023 and the steepest year-on-year rise since at least the end of the cold war, according to new data by the Stockholm International Peace Research Institute (SIPRI).

Military spending increased in all world regions, with particularly rapid growth in both Europe and the Middle East. The top five military spenders--the United States, China, Russia, Germany and India--accounted for 60 per cent of the global total, with combined spending of USD 1635 billion.

SIPRI, an independent international institute dedicat...