Global Military Spending Rises $2T After EU Defense Upgrade

The global military spending rose to $2.1 trillion in 2021, an all-time high, as the European Union boosted its military defenses.

Stockholm International Peace Research Institute (SIPRI) reported a 0.7 percent increase in global military spending in 2021. Amid the economic fallout of the COVID-19 pandemic, the previous year marked the seventh consecutive year of increase in spending.

European members of the North Atlantic Treaty Organization (NATO) spent two percent or more of their GDP on armed forces.

EU’s spending in 2021 made up 20 percent of the global total.

Germany, the largest spender in Central and Western Europe, spent $56 billion.

Russia spent $65.9 billion, a 2.9 percent increase, as the country geared up to occupy Ukrainian borders. Director of SIPRI’s Military Expenditure and Arms Production Programme Lucie Béraud-Sudreau said high oil and gas revenues aided Russia’s military spending.

SIPRI reported the United States, China, India, the United Kingdom, and Russia as the largest spenders, accounting for 62 percent of the global expenditures.

The US military spent $801 billion in 2021. Its research and development funding rose by 2.4 percent between 2012 and 2021 but decreased in 2021. According to Alexandra Marksteiner, a Researcher with SIPRI’s Military Expenditure and Arms Production Programme, the US government stressed it needed to preserve its military’s technological edge over its competitors.

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