💨 Abstract

World military expenditure reached $2.72 trillion in 2024, a 9.4% increase from 2023, marking the steepest year-on-year rise since the end of the Cold War. Increased military spending was observed across all world regions, with Europe and the Middle East experiencing rapid growth. The war in Ukraine and doubts over US commitment to NATO led to a 17% rise in European military spending.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖