As tensions rise in a number of global hotspots, the military budgets of
many world powers have been on the increase, too. In fact, a new
analysis of arms spending from Jane’s Defence Budgets report found that
outlays on weapons and equipment rose in 2016 to a global total of
$1,570,000,000,000. We reveal the countries that spend the most on their
militaries, and give you the heads-up on the nations that have been
upping their expenditure to fight existing and emerging threats.
|
SOUTH KOREA – $33.4 BILLION
The threat from North Korea appears to have intensified over the last
couple of years. Ever vigilant, the South Korean government is upping
its military spending to a colossal $214.7 billion between 2016–20, a
figure that dwarfs the Australian government's $26 billion defense
budget boost. The bulk of the extra money will go toward increasing
personnel levels and improving the country's missile defense systems. |
|
GERMANY – $35.7 BILLION
The German government recently announced an increase in military
spending after years of stable expenditure. Chancellor Angela Merkel has
highlighted the need for the German military to deal with
ever-increasing 'external threats', and earlier this year, Defense
Minister Ursula von der Leyen introduced plans to recruit an additional
14,300 soldiers, the country's first army expansion since the Cold War. |
|
JAPAN – $41.6 BILLION
Responding to rising tensions in the South China Sea and the increasing
threat from North Korea, the Japanese government expanded the nation's
defense budget earlier this year. Though the government is keen to
maintain Japan's pacifist ethos, Prime Minister Shinzo Abe's
administration is planning to invest in anti-missile defense systems and
increase the country's military presence on its southern islands. |
|
FRANCE – $44.3 BILLION
The French government recently announced an increase in military
spending for 2017. The increase in spending comes as France remains in a
state of emergency and faces an unprecedented threat from terrorism. The
boost will also provide funding for new military hardware, including a
new generation nuclear missile submarine. |
|
RUSSIA – $48.4 BILLION
The Russian defense budget increased year by year from 1998 to 2015 with
the country exerting its military might during conflicts in Chechnya,
South Ossetia and, more recently, Ukraine. The collapse in the price of
oil and the ensuing Russian financial crisis has hit the economy hard
and the military budget was slashed by 5.3% this year, with the
country's navy taking the brunt of the cuts.
|
|
SAUDI ARABIA – $48.6 BILLION
Saudi Arabia boasts the highest military spending in the world as a
percentage of GDP. While most countries devote around 2% max to defense,
the Gulf State channels a huge 13.9% of its GBP into its military. The
world's second-largest arms importer, Saudi Arabia buys most of its
weapons from the U.S., France and the UK. The military has been engaged
in operations in Yemen, assisting the government of President Abd Rabbuh
Mansur Hadi.
|
|
INDIA – $50.6 BILLION
India has broken into the world top-five defense spenders’ club for
first time, out-gunning the likes of Russia and Saudi Arabia. The
world's largest arms importer and a nuclear power to boot, India spends
a huge amount of money on its military. The country boasts Asia’s
third-largest economy, and spent $50.6 billion in 2016 - up from $46.6
billion in 2015. A large portion of the budget will be spent modernizing
the armed forces and updating combat aircraft.
|
|
UK – $53.8 BILLION
One of the few NATO members that meets the 2% target of GDP on defense,
the UK has the second-largest budget in the organization. Defense
spending is projected to increase by 0.5% above inflation until 2021 to
maintain the 2% ratio, funding everything from combat ships and maritime
patrol aircraft to cutting-edge equipment for UK Special Forces. The
government also plans to increase naval forces by recruiting 700 extra
personnel.
|
|
CHINA – $191.7 BILLION
China's territorial claims on islands in the South China Sea have raised
tensions in the Asia-Pacific region and the huge increase in the
emerging superpower's defense budget hasn't helped to diffuse the
situation. In the last five years, China's military spending has
skyrocketed by 43% in real terms, and although the economy is slowing
down, the defense budget is projected to grow to $255 billion by 2020.
|
|
UNITED STATES – $622 BILLION
Well out in the front, the United States spends more on its military
than the previous eight countries combined. While defense expenditure is
expected to remain flat through 2020, the Pentagon's vast budget will
still account for more than 3% of the nation's GDP. An estimated 60% of
the military's budget will be put aside for various aircraft, mission
support, combat shipbuilding and surveillance programs to improve
national security.
|
|