Global military expenditure stands at over $1.7 trillion in annual expenditure at current prices for 2011 (or $1.63 trillion dollars at constant 2010 prices), and has been rising in recent years.

(1991 figures are unavailable. Chart uses 2010 constant prices for comparison.)

Summarizing some key details from the Stockholm International Peace Research Institute (SIPRI)’s recent trends summary:

• World military expenditure in 2010 is estimated to have reached $1.63 trillion at 2010 prices;
  
• This represents a 1.3 per cent increase in real terms over 2008 and a 50 per cent increase since 2001;
  
• This corresponds to 2.6 per cent of world gross domestic product (GDP), or approximately $236 for each person in the world;

The USA with its massive spending budget, is the principal determinant of the current world trend, and its military expenditure now accounts for just under half of the world total, at 41% of the world total;

SIPRI has commented in the past on the increasing concentration of military expenditure, i.e. that a small number of countries spend the largest sums. This trend carries on into 2010 spending. For example,

• The 15 countries with the highest spending account for over 81% of the total;
  
• The USA is responsible for 41 per cent of the world total, distantly followed by the China (8.2% of world share), Russia (4.1%), UK and France (both 3.6%)

Military spending is concentrated in North America, Europe, and increasingly, Asia