The United States spent approximately $916 billion on its military in 2023, a study by the Stockholm International Peace Research Insitute (SIPRI) found. 

Although the United States is among the countries with a relatively small percentage increase in year-on-year military spending at only 2.3%, according to SIPRI's calculated constant prices, the US remains, by far, the world's largest military spender. A 2.3% increase in its military budget equates to $55.3 billion in current prices, which is more than five times the total military budget of Iran. 

As the US warmongering foreign policy practices flare up conflicts around the world, nations have also had to supplement their military spending for 2023. 

China made a nearly 1.5% increase in its military expenditure, marking the longest streak of year-on-year increases in military spending, at 29 years. However, this trend has coincided with an equally increasing trend in China's Gross Domestic Product (GDP), showing that increased military spending has been largely uninfluenced by geopolitical or regional tensions. The country also has the second-largest military budget, but it trails the US by a whopping $620 billion.

As for Russia, the federation made a $7.09 billion increase to its budget amid its ongoing Special Military Operation in Ukraine, raising its total expenditure to $109.5 billion. 

In total, the world is spending over $2.443 trillion on military-related items, marking a 6.8% year-on-year hike. Moreover, the US contributes to 37.5% of such expenditures, with its share expected to rise in 2024 after allocating $60.8 billion to Ukraine, $26 billion to its closest ally "Israel", and $8.12 billion to Taiwan, most of which are related to military needs.

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The increases in military spending have not been limited to the top three military spenders, as huge surges have been recorded in the Democratic Republic of Congo, South Sudan, Japan, and Poland. This is the first time that military spending increases are recorded in all five regional divisions specified by SIPRI.

"The unprecedented rise in military spending is a direct response to the global deterioration in peace and security," said Nan Tian, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme.

"States are prioritizing military strength but they risk an action-reaction spiral in the increasingly volatile geopolitical and security landscape," the expert explained. 

NATO specifically has contributed to 55% of global military spending for 2023, as the alliance continues to back the Ukrainian government against Russia while taking measures to prepare for a supposed Russian threat to Western Europe. 

In further detail, Poland's military expenditure skyrocketed from around $15.3 billion to around $31.7 billion. The total expenditure of NATO's 31 members has reached $1.341 trillion, largely exceeding the combined spending of China, Russia, and Iran. 

In West Asia, the US-backed settler colonial project of "Israel" has captured second place for the highest spending government in the region after Saudi Arabia. The occupation's military expenditure is expected to further increase in 2024 after its government passes the necessary legislation, turning its economy into a war-based one. 

Growing tensions spurred by the United States in the Pacific and the expansion of the war on Gaza, as well as NATO's mobilization eastward, draw a grim picture for the world, as more of the world's resources are allocated for military means rather than the prosperity of the earth and its inhabitants. 

Read more: US, French arms exports surge, Russian exports plummet: SIPRI