World military spending continued to grow in 2021, reaching an all-time high of US$ 2.1 trillion. This was the seventh consecutive year that spending increased, according to the latest data on military spending published by the Stockholm International Peace Research Institute (SIPRI).
A new report says the UK moved into the world's top five military spenders in 2021 as the US remains the biggest spender by some distance. The annual report by the Stockholm International Peace Research Institute (SIPRI) also revealed that for the first time ever, global military expenditure exceeded US$ 2 trillion.
The region with the largest increase in military expenditure in 2010 was South America, with a 5.8% increase in real terms, reaching a total of 63.3 billion US dollars according to the latest report from the Stockholm International Peace Research Institute, SIPRI.
India replaced China as the world’s top weapons importer, according to a study by the Stockholm International Peace Research Institute, SIPRI, as it aims to modernize its armed forces and project power through the region.
Despite the continuing global economic recession in 2009, the total arms sales of the SIPRI Top 100 of the world’s largest arms-producing companies increased by 14.8 billion USD from 2008 to reach 401 billion USD, a real increase of 8%, according to new data on international arms production released by Stockholm International Peace Research Institute (SIPRI).