Top 10: List of Countries with Highest Military Expense [Updated 2024]

In today’s world, how much a country spends on its military is a big deal. It tells us a lot about the focus and strength of that country. Referring to data from 2020, countries around the world spent a huge $1981 billion on their military. This was the highest military spending since 1988. Given the fact that the economy was struggling because of Covid-19, countries kept spending a lot on their defense.

In this article, we will look at the top 10 countries spending most on their military. We will also compare this expense and understand how this spending fits into their whole economy. Analyzing the facts like USA’s huge defense budget, China’s growing military spending, and why India is spending more on its army.

Based on Latest report by Statista –

In 2022, the world spent a massive $2.2 trillion on the military. The US topped the list with $877 billion, making up almost 40% of global spending. China was next with $292 billion, and Russia was third in this line. Factors like the Russia-Ukraine conflict fueled this increase in military expenses.

Let’s understand the detailed military spending of each country, looking at how much they spend and why. This will help provide better understanding of questions like how military money affects the world, how countries get along with each other, and what these countries are planning for the future. Let’s dive in and see where countries are putting their money when it comes to defense.

Top 10 Countries with Highest Military Expense 2023-24

1. America

United States ranks First in world in military spending. For 2024, the budget is a record $886 billion. Comparing with US expense in previous years, this is a big jump, showing how much the U.S. focuses on its military power.

Below is the summary on US military spending, areas of expenditure, budget for 2024, and the overall trend in defense spending:

Aspect	Details
Personnel Costs	Significant budget for salaries and benefits, including a 5.2% pay raise for soldiers.
Technology Investment	Major funding for modern weapons development, such as hypersonic missiles.
Operations	Substantial allocation for training and global military missions.
Budget Trend	2024 budget exceeds previous years, continuing the trend of increased defense spending.
Economic Resilience	Despite economic challenges, the U.S. ensures its military remains strong and advanced.
Overall Focus	The 2024 budget shows the U.S.’s commitment to maintaining its military at the forefront.

2. China

China is the world’s second-largest military spender. For 2024, the estimated budget is around $292 billion. This marks a significant increase, reflecting China’s strategic focus on expanding and modernizing its military capabilities.

Aspect	Details
Personnel and Training	Lots of money goes into training the army and improving skills.
Naval Expansion	Big spending on making the navy stronger, including new ships and submarines.
Air Force Modernization	Investing in new fighter jets, drones, and air defense.
Missile Development	Working on new missiles, including really fast ones.
Cyber and Space	More focus on cyber warfare and space missions.
Infrastructure	Updating military bases and equipment.
Global Presence	Increasing military activities in places like Africa and the South China Sea.
Budget Trend	Every year, China is spending more on its military.
Economic Strategy	Military spending is part of China’s bigger plan for its economy and tech growth.
Overall Strategy	Aiming to make its military one of the best in the world, especially in technology.

3. India

In 2023, India’s defense budget reflects its strategic priorities and regional security concerns. With an estimated budget of $70.6 billion, India ranks as one of the top global military spenders, emphasizing its commitment to strengthening defense capabilities.

Below is the summary on India’s 2023 military spending, focusing on key areas of expenditure and the overall defense strategy:

Aspect	Details
Personnel Costs	Major portion allocated for military personnel salaries and benefits.
Border Security	Increased funding for border security, particularly with neighboring countries.
Modernization Efforts	Investment in modernizing military equipment, including upgrading aircraft and naval fleets.
Research & Development	Focus on developing advanced defense technologies.
Strategic Initiatives	Funding for critical projects like missile systems and enhancing nuclear capabilities.
Infrastructure Upgrades	Improvements in military bases and facilities for better operational efficiency.
International Partnerships	Budget allocated for joint military exercises and collaborations with allies.
Budget Trend	Consistent growth in defense budget, reflecting India’s focus on comprehensive security.
Economic Alignment	Defense spending aligned with broader economic goals, including technological self-reliance.
Overall Strategy	Emphasis on self-reliance in defense production and boosting operational capabilities.

4. Russia

In recent years, Russia has consistently increased its military spending. This clearly reflects its strategic focus on defense and global influence. Expected Military Budget for 2024 has seen a significant rise. In comparison to 2022 budget (approx. $65.9 billion).

Aspect	Details
Personnel Costs	Substantial budget allocation for military personnel, including salaries and training.
Military Modernization	Investment in modernizing military equipment, focusing on advanced weaponry and technology.
Strategic Forces	Enhanced funding for strategic forces, including nuclear capabilities and missile systems.
Cybersecurity	Increased emphasis on cybersecurity and information warfare capabilities.
Naval Expansion	Continued development of naval forces, including submarines and surface vessels.
Aerospace Defense	Funding for aerospace defense, including air defense systems and space capabilities.
Global Operations	Allocation for global military operations and exercises.
Budget Trend	Marked increase in defense budget, aligning with Russia’s strategic military objectives.
Economic Impact	Defense spending reflecting Russia’s focus on maintaining a strong military presence despite economic challenges.
Overall Strategy	Emphasis on strengthening military power and maintaining strategic deterrence.

5. Saudi Arabia

Saudi Arabia is well known for its high defense spending. In 2023, this country has allocated about $67.6 billion to its military. This significant investment clearly shows Saudi Arabia’s focus on maintaining strong defense capabilities.

Saudi Arabia’s military spending, focusing on key areas of expenditure:

Aspect	Details
Personnel Costs	Significant budget, around $15 billion, for salaries and benefits of military personnel.
Air and Missile Defense	Approximately $20 billion invested in advanced air defense systems and missile technology.
Naval Modernization	Around $10 billion allocated for naval upgrades, including new ships and submarines.
Advanced Weaponry	Over $12 billion spent on purchasing state-of-the-art weaponry from global suppliers.
Internal Security	About $5 billion dedicated to internal security measures and counter terrorism efforts.
Military Infrastructure	Investment of $3 billion in enhancing military bases and facilities.
Strategic Partnerships	Around $2 billion spent on defense agreements and collaborations with key allies.
Budget Trend	High military spending, over 8% of GDP, showing a consistent focus on defense.
Economic Strategy	Defense spending is a major part of Saudi Arabia’s national security and economic diversification plans.
Overall Strategy	Emphasis on maintaining a strong military presence for regional security and operational readiness.

6. United Kingdom

In recent years, United Kingdom has consistently increased its defense spending, in order to address various security challenges within and globally. In 2023, United Kingdom has spent approx. $68.5 billion on military. Which makes this country to be one of the top military spenders globally. This amount indicates a significant commitment to national and international security, considering UK’s strategic roles in NATO and other global alliances.

Aspect	Details
Personnel Costs	Around $20 billion allocated for salaries and benefits of military and defense staff.
Naval Power	Approximately $15 billion invested in the Royal Navy, focusing on aircraft carriers and submarines.
Air Force Modernization	$10 billion for upgrading the Royal Air Force, including new fighter jets and drones.
Army Equipment	$8 billion dedicated to modernizing army equipment, vehicles, and artillery.
Cybersecurity and Intelligence	$5 billion towards enhancing cybersecurity and intelligence capabilities.
NATO Commitments	Around $4 billion for NATO commitments and international defense collaborations.
Research and Development	$3 billion invested in defense R&D, focusing on advanced military technologies.
Budget Trend	Steady increase in defense budget, reflecting the UK’s focus on comprehensive security.
Economic Strategy	Defense spending integrated into broader national security and economic objectives.
Overall Strategy	Emphasis on maintaining a strong military presence and adapting to modern warfare challenges.

7. France

France’s defense budget for 2023 is approx $53.6 billion. This indicates its commitment to maintaining a strong military presence both within country and globally. In recent years, France has focused on upgrading its armed forces and enhancing its defense capabilities.

France’s military spending, highlighting key areas of expenditure:

Aspect	Details
Personnel Costs	Around $15 billion dedicated to military personnel salaries and benefits.
Naval Power	Approximately $10 billion for the French Navy, focusing on ship and submarine upgrades.
Air Force Modernization	$8 billion allocated for upgrading the French Air Force, including new fighter jets and UAVs.
Land Forces Equipment	$7 billion for modernizing tanks, armored vehicles, and other land force equipment.
Nuclear Deterrence	$5 billion towards maintaining and developing France’s nuclear capabilities.
Cybersecurity and Space	$4 billion invested in cybersecurity measures and space defense projects.
International Operations	$3 billion for international military missions and peacekeeping efforts.
Research and Development	$2 billion in defense R&D, focusing on next-generation military technologies.
Budget Trend	Steady increase in defense budget, reflecting France’s focus on comprehensive security and modernization.
Overall Strategy	Emphasis on enhancing military capabilities and playing a key role in global defense and security.

8. Germany

In recent years, Germany has significantly increased military budget, which reflects a strategic shift in its defense policy. In 2023, Germany has spent approx. $55.8 billion. This increase is part of Germany’s strategic shift to enhance its military capabilities and involve more active role in international security.

Aspect	Details
Personnel Costs	Approximately $15 billion allocated for salaries and benefits of military personnel.
Equipment Modernization	Around $12 billion invested in modernizing military equipment, including vehicles and weaponry.
Air Force Upgrades	$10 billion dedicated to upgrading the German Air Force, including new aircraft and technology.
Naval Expansion	$8 billion for enhancing the German Navy, focusing on new ships and maritime technology.
Cybersecurity and IT	$5 billion towards strengthening cybersecurity infrastructure and IT systems.
International Commitments	$3 billion for NATO commitments and international military operations.
Research and Development	$2 billion in defense R&D, focusing on innovative military technologies.
Budget Trend	Notable increase in defense budget, in line with Germany’s evolving defense and security strategy.
Economic Strategy	Defense spending as part of broader national security and economic stability goals.
Overall Strategy	Focus on modernizing the military and enhancing Germany’s role in global and European security.

9. Japan

In 2023, Japan’s defense budget known to be around $46 billion, which shows a strategic shift in its military approach. This pattern of increasing military expense is a clear response to two major issues, growing regional tensions and need to modernize its Self-Defense Forces. Japan is currently focusing on enhancing defensive capabilities, especially due to the recent challenges posed by neighboring countries’ military activities.

Aspect	Details
Personnel Costs	Around $10 billion allocated for salaries and benefits of the Self-Defense Forces personnel.
Naval Power	Approximately $9 billion for modernizing the Japan Maritime Self-Defense Force, including new vessels.
Air Defense Upgrades	$8 billion dedicated to upgrading the Japan Air Self-Defense Force, focusing on aircraft and technology.
Ground Forces Equipment	$7 billion for modernizing Japan Ground Self-Defense Force equipment, like vehicles and artillery.
Missile Defense Systems	$6 billion invested in enhancing missile defense capabilities with new systems.
Cybersecurity and Space	$3 billion towards cybersecurity and space defense projects.
International Cooperation	$2 billion for international defense cooperation and peacekeeping missions.
Research and Development	$1 billion in defense R&D, focusing on next-generation military technologies.
Budget Trend	Notable increase in defense budget, reflecting Japan’s focus on security and modernization.
Overall Strategy	Emphasis on adapting to regional security challenges and enhancing defense capabilities.

10. South Korea

In 2023, South Korea’s defense budget is approx. $46.4 billion. This amount is a significant increase from previous years. This budget reflects South Korea’s commitment to empowering its military in response to regional tensions, particularly with North Korea.

Aspect	Details
Personnel Costs	About $15 billion for military staff salaries and benefits.
Naval and Air Force Modernization	$10 billion for updating the navy and air force, including new ships and jets.
Missile Defense	$8 billion invested in missile defense systems against regional threats.
Ground Forces Equipment	$7 billion for army equipment upgrades, focusing on advanced weaponry.
Research and Development	$3 billion in defense tech R&D, emphasizing new military technologies.
Cybersecurity	$2 billion towards enhancing cybersecurity measures.
International Cooperation	$1 billion for defense collaborations and peacekeeping missions.
Budget Trend	Noticeable increase in defense budget, aligning with South Korea’s security priorities.
Overall Strategy	Focus on a strong defense posture and advanced technological capabilities.

List of countries spending most on Military

These are top 10 counties with highest spending on Military:

Rank	Country	Spending (US$ Bn)	% of GDP	% of Global Spending
1	United States	877.0	3.5%	39%
2	China	292.0	1.6%	13%
3	Russia	86.4	4.1%	3.9%
4	India	81.4	2.4%	3.6%
5	Saudi Arabia	75.0	7.4%	3.3%
6	United Kingdom	68.5	2.2%	3.1%
7	Germany	55.8	1.4%	2.5%
8	France	53.6	1.9%	2.4%
9	South Korea	46.4	2.7%	2.1%
10	Japan	46.0	1.1%	2.1%

It’s implied that these Military expenses are only going to increase every year. Let’s refer to the Military spending forecast for 2024 and 2030.

Military Expected Expense Budget for 2024

USA’s Military Budget for 2024:

• President Joe Biden authorized a record $886 billion in annual military spending.
• This includes a 5.2% pay raise for service members and a 3% increase in the total national security budget.
• The budget focuses on modernizing nuclear weapons, developing hypersonic missiles, and expanding Indo-Pacific operations.

Japan’s Military Budget for 2024:

• Japan approved a 16% increase in military spending, totaling 7.95 trillion yen (about $56 billion).
• This marks a significant shift from Japan’s post-WWII pacifist stance, including easing the ban on lethal weapons exports.
• The budget is part of a larger 112.7 trillion-yen national budget and still requires approval by Japan’s National Diet.

Russia’s Military Budget for 2024:

• Russia’s military spending in 2024 is estimated to be around 12.8 trillion rubles (approximately $140 billion), according to the Stockholm International Peace Research Institute (SIPRI).
• Expected 2024 budget is 29% increase from the previous year and accounts for 35% of the total government spending.
• Military spending in 2024 will constitute 7.1% of Russia’s gross domestic product (GDP).

China’s Military Budget for 2024:

• China announced a defense budget of $227 billion for 2024, which many experts believe significantly undercounts actual spending.
• The Stockholm International Peace Research Institute (SIPRI) estimated China’s defense spending to be more than $290 billion in 2022, about 25% more than China’s official numbers.
• Senator Dan Sullivan suggested that China’s defense spending might be closer to $700 billion.

India’s Military Budget for 2024:

• The Union Budget for the Financial Year 2023-24 envisages a total outlay of Rs 45,03,097 crore.
• The Ministry of Defense has been allocated a total budget of Rs 5,93,537.64 crore, which is 13.18% of the total budget.
• The total Defense Budget represents an enhancement of Rs 68,371.49 crore (13%) over the Budget of 2022-23.
• Allocation to Defense Research and Development Organisation (DRDO) increased by 9% to Rs 23,264 crore.

Based on the Lowy Institute’s Asia Power Index for 2023, here’s a crisp summary of the 2030 military spending forecast:

• The US leads with a projected $977 billion military budget.
• China follows at $531 billion, maintaining its second position.
• India’s budget is expected to reach $183 billion, ranking third.
• Russia’s forecasted spending is $123 billion.
• South Korea plans to spend $82.4 billion.
• Japan’s projected budget is $62.9 billion.
• Other significant increases are expected in Australia, Pakistan, Taiwan, and Indonesia.

FAQs: Highest spending Countries on Military –

1. Which country has the highest military expenditure?

The United States has the highest military expenditure, with a budget of $877 billion.

2. Which countries are spending most on military?

Most spending countries on military in 2023 are: US, China, Russia, India, Germany, The UK, France, Japan, Saudi Arabia, South Korea

3. What are the top 10 military spending countries in 2023?

The United States, China, Russia, India, Saudi Arabia, the United Kingdom, Germany, France, South Korea, and Japan.

4. What country spends the least on military?

Countries like Costa Rica and Panama, which don’t have standing armies, spend the least on military.

5. How much of US GDP is spent on military?

The United States spends about 3.5% of its GDP on the military.

6. Who has the richest army in the world?

The United States has the richest army in the world in terms of military spending.

7. Who will be the strongest military in the world in 2030?

Based on prediction and gathered researched data from various sources, the United States, China, and Russia are often cited as contenders for the strongest military in 2030.

8. What country spends the most on military per capita?

Saudi Arabia is one of the countries that spends the most on military per capita.