• The Stockholm International Peace Research Institute (SIPRI) has released its 2024 report, offering critical insights into global military spending and arms transfers.

Key Highlights

Global Military Spending Surge

• Total Expenditure: In 2023, global military expenditure reached a record high of $2.24 trillion, marking a 3.7% increase from the previous year. This increase is driven by ongoing conflicts and rising geopolitical tensions.
• Ukraine: Ukraine's military spending surged by 51% to $64.8 billion, primarily due to the conflict with Russia and substantial international military aid, including $25.4 billion from the USA​​.

Major Arms Exporters

• United States: The USA remains the largest arms exporter, with a 17% increase in exports between 2014–2018 and 2019–2023. The USA supplied 55% of Europe's arms imports during this period​.
• France and Russia: France's arms exports grew by 47%, making it the second-largest exporter, surpassing Russia, whose exports fell by 53% due to sanctions and reduced demand​.

Arms Imports in Europe

• Ukraine: Ukraine became the largest arms importer in Europe, reflecting the significant military aid received amid the ongoing war with Russia.
• Overall Increase: European arms imports nearly doubled, with a 94% increase from 2014–2018 to 2019–2023, largely due to heightened security concerns​.

Asia

• China: China’s military expenditure rose by 6% in 2023, continuing its 29-year trend of annual increases. This has prompted neighboring countries like Japan and Taiwan to increase their military budgets by 11% each​ ​.
• Pakistan: In 2023, Pakistan's military expenditure was approximately $11.4 billion, marking a 3.5% increase from the previous year​ ​.

India's Military Spending & other perspective

• Top Three Spender: India remains one of the top military spenders globally, following the USA and China. India’s military expenditure was $81.4 billion in 2023, reflecting a 6% increase from the previous year​.
• Focus Areas: India’s spending is directed towards modernization of its armed forces, acquisition of advanced weapon systems, and strengthening of its defense infrastructure.
• Largest Arms Importer: India continues to be the world's largest arms importer, accounting for a significant share of global arms imports from 2019 to 2023​.
• Key Suppliers: The major suppliers of arms to India include Russia, France, and Israel. The decline in Russian arms exports has impacted India, prompting diversification of suppliers.
• Strengthening Ties with France and the USA: The SIPRI report highlights India's increasing arms imports from France and the USA. This shift aligns with India's strategic partnerships and efforts to diversify its defense procurement to reduce dependency on any single country​.
• Indigenous Defense Production: The Indian government is pushing for 'Atmanirbhar Bharat' (self-reliant India) in defense, promoting indigenous production and reducing reliance on imports​ ​.
• China's Military Rise: The report underscores China's growing military capabilities and expenditure, which has implications for India's security and defense planning​.
• Border Tensions: Ongoing tensions with China, particularly along the Line of Actual Control (LAC), have necessitated increased defense spending and strategic deployments by India.

Middle East

• Key Importers: Saudi Arabia, Qatar, and Egypt are major arms importers in the region, with Saudi Arabia being the second-largest globally. The region accounted for 30% of global arms imports​.

Regional Military Spending Dynamics

• Middle East: Military expenditure in the Middle East increased by 9% to $200 billion in 2023, driven by ongoing conflicts and security concerns. Israel’s military spending grew by 24% due to its operations in Gaza​ .
• Central America: Increased military spending in Central America is largely attributed to efforts to combat organized crime, with notable increases in the Dominican Republic and Mexico​​.

About SIPRI (Stockholm International Peace Research Institute)

• Established: 1966 by the Swedish Parliament
• Headquarters: Stockholm, Sweden
• Purpose: Conduct research into conflict, armaments, arms control, and disarmament to promote transp