Trends In World Military Expenditure, 2022 Report

• ‘Trends in World Military Expenditure’ Report 2022 was recently released by SIPRI.
  • Stockholm International Peace Research Institute (SIPRI) is a Sweden-based independent international institute dedicated to research into conflict, armaments, arms control, and disarmament.

Major findings

• Five biggest spenders in 2022 were United States, China, Russia, India and Saudi Arabia, which together accounted for 63% of world military spending.
• World military expenditure rose by 3.7% in real terms in 2022, to reach a record high of $2240 billion (2.2% of global GDP).
• With military expenditure of $81.4 billion, India was fourth largest spender in 2022.
• Personnel expenses (salaries and pensions) remained the largest expenditure category (around 50%) in Indian military budget.
• India’s expenditure on capital outlays amounted to 23% of total military spending in 2022.
• India’s defence exports have reached an all-time high of Rs 16,000 crore in FY 2022-23.
• India aims at achieving annual defence export target of ₹35,000 crore by 2025.
• India’s major platforms being exported include Dornier-228, 155 mm Advanced Towed Artillery Guns (ATAGs), Brahmos Missiles, Akash Missile System