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As Global Uncertainty Grows, So Does Arms and Defense Spending

A new report from Jane’s Defence Budgets reported that arms and defense spending has reached $1.57 trillion, a notable increase from last year.

And we’re not talking about your grandpa’s gun-range hobbies. The U.S. retained its long-held spot at No. 1 in defense spending with a cool $622 billion. China followed behind at $191.8 billion and the U.K.’s budget took third place at £53.8 billion.

The increase in spending is a direct reflection of rising global tensions, particularly as China continues to insulate itself from attacks from neighboring countries.

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India also climbed two spots in defense spending rank from sixth place to fourth. Its budget of $50.7 billion surpassed Saudi Arabia and Russia. If the increase in spending continues for India at its current rate, it is forecasted to surpass the U.K. by 2018.

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