Global military spending in 2023 surged to an all-time high of $2.4 trillion, according to a new report from the Stockholm International Peace Research Institute (SIPRI).

The Details: This marks a 6.8% increase from 2022 and the ninth straight year of rising military expenditures; it was also the steepest annual rise since 2009. The United States remains the highest spender with a $916 billion defense budget in 2023, while China ranks second with $296 billion. 

For Context: The report shows that recent increases in military expenditure are largely due to the ongoing war in Ukraine and escalating geopolitical tensions in Asia, Oceania, and the Middle East. Within regions such as Europe, Asia, and the Middle East, increases in defense spending could reflect not just a response to immediate conflicts, but a rethinking of broader national security priorities and policies.

How the Media Covered It: Coverage across the spectrum appeared to take a somewhat negative tone; Reuters (Center bias) noted that the spending occurred “as international peace and security deteriorated.” Echoing some hard-line conservatives’ opposition to Ukraine aid, Breitbart (Right bias) highlighted that the “Defence Industry Rakes in Billions” and embedded an X post including a report of embezzlement by Ukrainian officials. This summary was developed with the help of AllSides' AI technology.