Global military expenditures are growing at an alarming rate!
At present, due to the Ukraine-Russia war crisis, most countries in the world are going to be increasing their military and defense expenditures at an alarming rate. According to the data provided by several military research institutes and think tanks, due to the global war crisis and conflict situation, most countries around the world are going to spend approximately $2.56 trillion or more to strengthen the military and defense sectors in 2024. Due to the Ukraine war, countries around the world spent about $2.443 trillion on the military and defense sectors in 2023. The USA, the world’s number one military superpower, has set a new record by allocating approximately 36.27% of the total global military expenditure budget. The US administration has already allocated about $916 billion for the current fiscal year 2024–25. However, for the previous fiscal year 2023, a military budget of $886 billion was allocated. In April 2024, the US Senate approved an additional $95 billion to s
