Global military spending is soaring, fueling a new arms race and placing immense pressure on national budgets and priorities.
According to the Stockholm International Peace Research Institute, a staggering $2.7 trillion was spent on militaries in 2024. This marks a more than 9 per cent jump from the previous year—the steepest increase since the Cold War and the tenth consecutive year of growth.
The Cost to Sustainable Development and Peace
This unprecedented military spending surge is occurring as global security deteriorates and progress on the Sustainable Development Goals (SDGs)—the world’s blueprint for a more equitable future—is falling short. In response, UN Secretary-General António Guterres has released a new report, The Security We Need: Rebalancing Military Spending for a Sustainable and Peaceful Future.
The report offers a stark warning: if current trends persist, global military spending could reach $4.7 to $6.6 trillion by 2035. A $6.6 trillion annual military budget would be nearly five times the level at the end of the Cold War and more than twice of what was spent in 2024.
This trajectory of accelerated militarization poses a serious threat to humanity’s future by diverting critical resources from sustainable development and peace-building initiatives.
The Security We Need
Rebalancing Military Spending for a Sustainable and Peaceful Future
Global military spending is rising significantly across all regions driven by escalating geopolitical tensions, conflicts and perceived security threats. But does increasing military spending truly guarantee security? No, it often fuels arms races, deepens mistrust among countries and further destabilizes international relations.
The Secretary-General’s report, as requested by UN Member States in the 2024 Pact for the Future, examines the difficult trade-offs presented by the increasing global military spending, making a powerful case for investing in peace and in people’s futures.
It proposes a shift towards a human-centered and multidimensional approach to security, one that prioritizes diplomacy, cooperation, sustainable development and disarmament over military build ups.
Source: www.un.org