Global defence spending jumped to record $2.2 trillion last year
Political
Spending set to rise in 2024 with Israel’s war on Gaza, Russia-Ukraine conflict, tensions in Indo-Pacific.
Global defence spending jumped 9 percent to a record $2.2 trillion last year, a British military think tank said, and is set to rise in 2024 with Israel’s war on Gaza, the conflict in Ukraine and rising tensions in the Indo-Pacific region.
“The current military-security situation heralds what is likely to be a more dangerous decade, characterised by the brazen application by some of military power to pursue claims,” read the annual report of the IISS.
The conflicts are not just overlapping, but they are also involving an increasing number of non-Western countries compared to two decades ago, said Samir Puri, a visiting lecturer in war studies from King’s College London.
Defence spending is also being fueled by rising tensions in Asia where countries are arming themselves for deterrence, but also by the growing demand for modern technologies such as unmanned aerial vehicles and Global Position Systems.
Lessons learned from the war in Ukraine are starting to influence military planning in other countries, the IISS said, with many countries recognising that they need to increase production of military hardware and build up bigger stockpiles in case they are forced to fight a protracted war.
“The current military-security situation heralds what is likely to be a more dangerous decade, characterised by the brazen application by some of military power to pursue claims,” read the annual report of the IISS.
The conflicts are not just overlapping, but they are also involving an increasing number of non-Western countries compared to two decades ago, said Samir Puri, a visiting lecturer in war studies from King’s College London.
Defence spending is also being fueled by rising tensions in Asia where countries are arming themselves for deterrence, but also by the growing demand for modern technologies such as unmanned aerial vehicles and Global Position Systems.
Lessons learned from the war in Ukraine are starting to influence military planning in other countries, the IISS said, with many countries recognising that they need to increase production of military hardware and build up bigger stockpiles in case they are forced to fight a protracted war.
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