Key Takeaways
- In 2024, defense spending totaled $2.5 trillion, up from $2.2 trillion in 2023.
- North America, led by the U.S., was the largest spender with $995 billion, followed by Asia’s $534 billion.
- Europe’s $457 billion was over twice as large as Russia-Eurasia’s $184 billion.
Global defense spending has consistently increased over the last decade, driven by numerous ongoing conflicts in the Middle East, Ukraine, and other parts of the world.
In this graphic, the first in a three-part Investing in Defense series, Visual Capitalist has partnered with Global X ETFs to explore the global landscape of defense spending.
| Region | Defense Spending |
|---|---|
| North America | $995B |
| Asia | $534B |
| Europe | $457B |
| Middle-East and North-Africa | $209B |
| Russia-Eurasia | $184B |
| Latin America & The Caribbean | $59B |
| Sub-Saharan Africa | $19B |
Read more: Visual Capitalist