Global military spending reaches record $2.24 trillion amid geopolitical tensions: Report

Ukraine's military spending rose by 640% in 2022, the largest annual increase ever recorded.
European military spending increased 13% in 2022, the steepest rise in 30 years, largely driven by Russia's invasion of Ukraine.
The United States, China and Russia accounted for over half of total global military expenditure.
Many former Soviet states doubled defense budgets since 2014 due to concerns over Russian aggression.
Tensions in Asia surrounding China also contributed to increased military spending by major Asian powers like Japan.