Over $2.7 trillion was spent on the sector in 2024, according to the Stockholm International Peace Research Institute Global military spending increased more year-on-year in 2024 than at any time since the Cold War, according to research by the Stockholm International Peace Research Institute (SIPRI). The report, published on Monday, noted particularly rapid growth in Europe and the Middle East. Overall expenditure has exceeded $2.7 trillion, marking the steepest annual rise in more than 30