STOCKHOLM – Global defense spending hit $1.917 trillion in 2019, a 3.6 percent increase over previous year figures and the largest increase in one year since 2010, according to the annual report by the Stockholm International Peace Research Institute (SIPRI) in Stockholm. Defense News reports. Continue reading original article
The Military & Aerospace Electronics take:
11 May 2020 -- The United States remains the world’s largest defense spender in 2019, with its $732 billion representing 38 percent of global military spending, SIPRI has reported.
This increase was followed by China ($261 billion, at 14 percent of global total); India ($71.1 billion, at 3.7 percent); Russia ($65.1 billion, at 3.4 percent); and Saudi Arabia ($61.9 billion, at 3.2 percent).
All told, the top five nations accounted for 62 percent of overall global military spending. Large year-over-year increases were seen in China (5.1 percent), India (6.8 percent), Russia (4.5 percent), Germany (10 percent) and South Korea (7.5 percent).
John Keller, chief editor
Military & Aerospace Electronics
