International military expenditure reaches new height of $2.1 trillion
The Stockholm International Peace Research Institute has reported that world defence spending has continued to grow in 2021, reaching a new peak of $2.1 trillion.
Dr Diego Lopes da Silva, Senior researcher with SIPRI’s Military Expenditure and Arms Production Programme stated: ‘There was a slowdown in the rate of real-term growth due to inflation. In nominal terms, however, military spending grew by 6.1%’.
The five largest spenders in 2021 were the US, China, India, the UK and Russia, which together account for 62% of expenditure.
US military spending dropped by 1.4% from 2020 levels, totalling $801 billion in 2021, while research and development rose by 24% between 2012 and 2021.
Russia increased its military expenditure by 2.9% in 2021, to $65.9 billion. This increase has been linked to the preparation and build up before the invasion of Ukraine. This was the third consecutive year of growth and Russia’s military spending reached 4.1% of GDP in 2021.
In contrast, Ukraine’s military spending has risen by 72 per cent since the annexation of Crimea in 2014, although spending fell in 2021 to $5.9 billion.
China is the world’s second-largest spender and allocated around $293 billion, an increase of 4.7% compared with 2020.
More from Defence Notes
After jointly receiving a new hypersonic missile prototype contract, Raytheon and Northrop Grumman are confident the weapon can be developed and designed to provide USAF with overmatch capabilities.
A recent report supports DoD claims that a new commercial broadband network would harm existing US military SATCOM and GPS services.
What do US policymakers make of UK strategic thinking in the wake of the Integrated Review, and how could subsequent events affect the transatlantic defence relationship?