This Country Has the Largest Defense Budget, and It's Not Even Close: The Top 25 Ranked

Military

Published: June 12, 2024 1:50 pm

The United States, China and Russia rank as some of the strongest militaries in the world and a large part of this is because they spend the most on their respective militaries. It’s no secret that how much countries spend on their militaries corresponds to their standing on the world stage. Here, 24/7 Wall St. is taking a closer look at which countries spend the most on their militaries. (See how the U.S. military budget has skyrocketed over the years.)

To identify the countries with the biggest defense budgets, 24/7 Wall St. reviewed the 2024 Military Strength Ranking from Global Firepower, an annually updated defense-related statistics website with information on 145 countries. Countries were ordered according to their defense budgets. We included supplemental information regarding total personnel, total population, aircraft, vehicles, as well as each country’s overall military strength score.

Russia ranks near the top of this list as a big spender, with much of these funds currently dedicated to its ongoing conflict with Ukraine. Although there was a slow start to the conflict and it initially looked like neither side was budging, Russia has proven successful in recent months in maintaining a hold on territories that it is claiming as its own. Much of this can be attributed to its targeted spending on its military.

On the other hand, the United States spends the most of any country in the world on its military. In fact, it spends more than the next ten nations combined on their respective militaries. Much of this spending goes to keeping U.S. forces outfitted with the most technologically advanced gear, aircraft and vehicles. (These are the U.S. military’s most expensive weapons programs, ranked.)

Across the board, these military budgets go towards paying soldiers, buying new assets, and maintaining current arsenals. With geopolitical tensions at all-time highs, this military spending may come into play sooner than later.

Here is a look at the countries with the largest defense budgets:

Why Are We Covering This?

Understanding the defense budgets for different countries gives context to their military capabilities. Outfitting troops with the newest technology costs money, but it also acts as a force multiplier. So there is a balance that must be struck by countries with limited budgets on what they can afford to get the most bang for their buck.

25. Mexico

Defense budget: $14.82 billion
Total population: 129,875,529
Total military personnel: 630,655
Total military aircraft: 462
Total military vehicles: 17,601
Total naval vessels: 194
Military strength score: 0.4274 – #31 out of 145

24. United Arab Emirates

Lockheed Martin F-35A Lightening II by Robert Sullivan

Lockheed Martin F-35A Lightening II (Public Domain) by Robert Sullivan

Defense budget: $15.50 billion
Total population: 9,973,449
Total military personnel: 207,000
Total military aircraft: 560
Total military vehicles: 12,253
Total naval vessels: 79
Military strength score: 0.8083 – #51 out of 145

23. Taiwan

Defense budget: $19.10 billion
Total population: 23,588,613
Total military personnel: 2,580,000
Total military aircraft: 750
Total military vehicles: 19,868
Total naval vessels: 93
Military strength score: 0.3302 – #24 out of 145

22. Algeria

Defense budget: $21.60 billion
Total population: 44,758,398
Total military personnel: 610,000
Total military aircraft: 605
Total military vehicles: 35,990
Total naval vessels: 213
Military strength score: 0.3589 – #26 out of 145

21. Spain

Defense budget: $22.00 billion
Total population: 47,222,613
Total military personnel: 226,902
Total military aircraft: 513
Total military vehicles: 15,046
Total naval vessels: 168
Military strength score: 0.2882 – #20 out of 145

20. Venezuela

Defense budget: $24.12 billion
Total population: 30,518,260
Total military personnel: 337,000
Total military aircraft: 242
Total military vehicles: 14,966
Total naval vessels: 32
Military strength score: 0.9447 – #57 out of 145

19. Israel

Defense budget: $24.40 billion
Total population: 9,043,387
Total military personnel: 670,000
Total military aircraft: 612
Total military vehicles: 43,407
Total naval vessels: 67
Military strength score: 0.2596 – #17 out of 145

18. Brazil

Defense budget: $24.75 billion
Total population: 218,689,757
Total military personnel: 900,000
Total military aircraft: 628
Total military vehicles: 44,044
Total naval vessels: 134
Military strength score: 0.1944 – #12 out of 145

17. Indonesia

Taruna akmil (CC BY-SA 4.0) by AWG97

Defense budget: $25.00 billion
Total population: 279,476,346
Total military personnel: 1,050,000
Total military aircraft: 474
Total military vehicles: 11,604
Total naval vessels: 333
Military strength score: 0.2251 – #13 out of 145

16. Canada

Defense budget: $26.50 billion
Total population: 38,516,736
Total military personnel: 100,500
Total military aircraft: 375
Total military vehicles: 18,054
Total naval vessels: 67
Military strength score: 0.3813 – #27 out of 145

15. Italy

Defense budget: $31.60 billion
Total population: 61,021,855
Total military personnel: 289,000
Total military aircraft: 800
Total military vehicles: 61,892
Total naval vessels: 309
Military strength score: 0.1863 – #10 out of 145

14. Poland

Defense budget: $38.36 billion
Total population: 37,991,766
Total military personnel: 602,100
Total military aircraft: 468
Total military vehicles: 13,956
Total naval vessels: 45
Military strength score: 0.2917 – #21 out of 145

13. Turkey

Defense budget: $40.00 billion
Total population: 83,593,483
Total military personnel: 883,900
Total military aircraft: 1,069
Total military vehicles: 55,104
Total naval vessels: 186
Military strength score: 0.1697 – #8 out of 145

12. Ukraine

On Day of Defenders of Ukraine President presents orders of Gold Star, Cross of Combat Merit awards, awards military units with honorary titles. by President Of Ukraine

On Day of Defenders of Ukraine President presents orders of Gold Star, Cross of Combat Merit awards, awards military units with honorary titles. (CC0 1.0) by President Of Ukraine

Defense budget: $42.00 billion
Total population: 43,306,477
Total military personnel: 2,200,000
Total military aircraft: 321
Total military vehicles: 22,110
Total naval vessels: 104
Military strength score: 0.2598 – #18 out of 145

11. South Korea

Flag of South Korea on soldiers arm. Flag of South Korea on military uniforms (collage). by Bumble Dee

Flag of South Korea on soldiers arm. Flag of South Korea on military uniforms (collage). (Shutterstock.com) by Bumble Dee

Defense budget: $44.70 billion
Total population: 51,966,948
Total military personnel: 3,820,000
Total military aircraft: 1,576
Total military vehicles: 66,492
Total naval vessels: 200
Military strength score: 0.1416 – #5 out of 145

10. France

Defense budget: $49.73 billion
Total population: 68,521,974
Total military personnel: 376,000
Total military aircraft: 972
Total military vehicles: 85,023
Total naval vessels: 128
Military strength score: 0.1878 – #11 out of 145

9. Australia

170408-A-TW998-009 by West Point - The U.S. Military Academy

170408-A-TW998-009 (Public Domain) by West Point - The U.S. Military Academy

Defense budget: $52.56 billion
Total population: 26,461,166
Total military personnel: 89,400
Total military aircraft: 325
Total military vehicles: 16,162
Total naval vessels: 43
Military strength score: 0.2515 – #16 out of 145

8. Japan

Defense budget: $53.00 billion
Total population: 123,719,238
Total military personnel: 328,150
Total military aircraft: 1,459
Total military vehicles: 37,662
Total naval vessels: 155
Military strength score: 0.1601 – #7 out of 145

7. Germany

Defense budget: $55.94 billion
Total population: 84,220,184
Total military personnel: 215,600
Total military aircraft: 618
Total military vehicles: 79,317
Total naval vessels: 64
Military strength score: 0.2847 – #19 out of 145

6. United Kingdom

Defense budget: $62.82 billion
Total population: 68,138,484
Total military personnel: 1,108,860
Total military aircraft: 664
Total military vehicles: 27,203
Total naval vessels: 117
Military strength score: 0.1443 – #6 out of 145

5. Saudi Arabia

Defense budget: $71.72 billion
Total population: 35,959,806
Total military personnel: 407,000
Total military aircraft: 914
Total military vehicles: 20,694
Total naval vessels: 57
Military strength score: 0.3235 – #23 out of 145

4. India

Defense budget: $74.00 billion
Total population: 1,399,179,585
Total military personnel: 5,137,550
Total military aircraft: 2,296
Total military vehicles: 151,248
Total naval vessels: 294
Military strength score: 0.1023 – #4 out of 145

3. Russia

Defense budget: $109.00 billion
Total population: 141,698,923
Total military personnel: 3,570,000
Total military aircraft: 4,255
Total military vehicles: 161,382
Total naval vessels: 781
Military strength score: 0.0702 – #2 out of 145

2. China

Defense budget: $227.00 billion
Total population: 1,413,142,846
Total military personnel: 3,170,000
Total military aircraft: 3,304
Total military vehicles: 174,300
Total naval vessels: 730
Military strength score: 0.0706 – #3 out of 145

1. United States

Defense budget: $831.78 billion
Total population: 339,665,118
Total military personnel: 2,127,500
Total military aircraft: 13,209
Total military vehicles: 360,069
Total naval vessels: 472
Military strength score: 0.0699 – #1 out of 145

Take Charge of Your Retirement In Just A Few Minutes (Sponsor)

Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.

Here’s how it works:

Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.

Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!

Read more: Military, military, military expenditure, military spending

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.