In 2019, defense spending in the world has reached its highest level in three decades, according to a study by the Stockholm International Institute for Peace Studies (SIPRI).

The institute estimates global military spending at 1.91 trillion USD in 2019, up by 3.8% from 2018, with the US, China, and India at the forefront of defense spending.

Military spending may have peaked, researchers at SIPRI noted, citing economic downturns due to the pandemic of the new coronavirus. “We assume that this was the peak of the economic recession caused by Covid-19, which will have a strong impact on national budgets and on all spending in 2020”, said SIPRI researchers.

According to them, the financial crisis in 2008-2009 was not as severe as the current one. Governments will have to match health, education, and infrastructure spending with the military.

According to their survey, the driving force behind the increase in defense spending in 2019 has been the increased US spending over the last two years, as well as the emergence of China and India among the top three countries with the most defense spending. The figures include the cost of salaries, operations, the purchase of weapons and equipment, as well as research and development.

The United States has spent most of its defense spending so far – 732 billion USD, which is 38% of total spending. The United States has spent as much as the next 10 countries in the ranking combined.

China is second with 261 billion USD, or 14% of global defense spending. India ranks third with 71.1 billion USD, followed by Russia and Saudi Arabia.

The top five countries account for 62% of the world’s total military spending. Unlike the other five countries in the top spot, Saudi Arabia has reduced its military spending by 16% to nearly 62 billion USD.

Other countries in the top 10 are France, Germany, the United Kingdom, Japan, and South Korea. Germany increased its military spending by 10% last year to 49.3 billion USD, which is the largest increase among the top 15 countries in the ranking, according to SIPRI researchers. In their words, this is due to Berlin’s ambition to separate NATO’s required two percent of its gross domestic defense product and the threat that is thought to come from Russia.

The Stockholm International Institute for Peace Studies has found relevant data for 155 of the 169 countries it has surveyed. North Korea is absent from the rankings as the country’s data cannot be verified. Turkmenistan and Uzbekistan did not provide information, while Vietnam announced in 2012 that information for the army is secret.