America led the way, followed by China

Military spending and technology have come under the spotlight as the world tracked Western arms shipments, particularly in light of Russia’s invasion of Ukraine.

In 2021, global military spending reached US$2.1 trillion, rising for its seventh year in a row. Using data from the Stockholm International Peace Research Institute (SIPRI), the United States was the top nation in terms of military expenditure, spending US$801 billion to make up almost 38 per cent of global military spending in 2021.

America has been the top military spending nation since SIPRI began tracking in 1949, making up more than 30 per cent of the world’s military spending for the last two decades. US military spending increased year-over-year by US$22.3 billion, and the country’s total for 2021 was more than every other country in the top 10 combined.

China’s military might

The next top military spender in 2021 was China, which spent US$293.4 billion and made up nearly 14 per cent of global military spend. While China’s expenditure is still less than half of America’s, the country has increased its military spending for 27 years in a row.

In fact, China has the largest total of active military personnel and the country’s military spending has more than doubled over the last decade. While Russia was only the fifth top nation by military spending at US$65.9 billion in 2021, it was among the higher ranking nations in terms of military spending as a share of Gross Domestic Product (GDP).

Russia military expenditures amounted to 4.1 per cent of its GDP, and among the top 10 spending nations, was only beaten by Saudi Arabia whose spending was 6.6 per cent of its GDP.

Military Collaboration since the Russia-Ukraine Conflict

Russia’s invasion of Ukraine in February has resulted in seismic geopolitical shifts, kicking off a cascade of international military shipments and collaboration between nations.

The security assistance just sent by the US to Ukraine has totaled US$8.2 billion since the start of the war, and has shown how alliances can help make up for some domestic military spending in times of conflict.

Similarly, Russia and China have deepened their relationship, sharing military intelligence and technology along with beginning joint military exercises at the end of August, alongside other nations like India, Belarus, Mongolia, and Tajikistan.