Global military spending surged by almost 3% in 2025, largely due to increased defense expenditures in Europe and Asia, according to a report by the Stockholm International Peace Research Institute (SIPRI). European defense spending jumped 14% from 2024 to $864 billion, and in Asia-Oceania the increase was 8.1%, to $681 billion. The report also revealed that almost $2.9 trillion was spent on military programs globally, a 2.9% increase from the previous year. The US, China, Russia, Germany and India were the biggest spenders, accounting for 58% of the global sum. Despite this, the US remains the world's No. 1 spender on the military, followed by China, and Russia with an estimated $336 billion. SIPRI also noted generational changes in spending by US allies in Asia and Oceania, including Australia, Japan and the Philippines.