Money & Markets1960–2024
Military Spending by Country
Six decades of the world's defense budgets, from the Cold War arms race to today. The United States outspends everyone throughout, surging after 9/11, while the Soviet Union's massive military collapses with the USSR in 1991 and China rises to a clear #2. Russia's spending spikes sharply after its 2022 invasion of Ukraine.
1×
Source: SIPRI Current-USD estimates; Soviet and Chinese figures are approximate. Updated 2026-07-03
The race in numbers
2lead changes
64years covered
12contenders
United Stateslongest reign — 34 yrs at #1
Final standings · 2024
- 1United States$968B
- 2China$314B
- 3Russia$149B
- 4Germany$89.0B
- 5India$86.0B