Military spending hit a record in 2025. New data published by a peace research institute said global defence spending was nearly $2.9 trillion last year. This was a three per cent rise from 2024. Spending has gone up for eleven years in a row. Europe's defence spending increased by 14 per cent, to $864 billion. The Asia-Oceania region increased its spending by 8.1 per cent. The USA is the biggest spender. It spent $954 billion on its military last year.

There are several reasons for the record levels of spending. One reason is that NATO members met their spending targets. Another reason is the Russia-Ukraine war. This is now five years old. Russia spent around 7.5 per cent of its GDP. Ukraine spent 40 per cent. The peace institute said countries are spending more because of today's wars. It added: "This trend will probably continue through 2026 and beyond."