Global Military Expenditure Set New Record In 2008

A.V.

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Worldwide military expenditure in 2008 totalled an estimated US$1,464 billion, according to new figures released today by Stockholm International Peace Research Institute (SIPRI). This represents an increase of 4 per cent in real terms compared to 2007, and an increase of 45 per cent since 1999. SIPRI today launched the 2009 edition of its Yearbook on Armaments, Disarmament and International Security.

The Yearbook shows that the USA accounted for the majority (58%) of the global increase between 1999 and 2008, with its military spending growing by $219 billion in constant 2005 prices over the period. Even so, it was far from the only country to pursue such a course. China and Russia, with absolute increases of $42 billion and $24 billion respectively, both nearly tripled their military expenditure over the decade. Other regional powers—particularly India, Saudi Arabia, Iran, Israel, Brazil, South Korea, Algeria and the UK—also made substantial contributions to the total increase.


‘The idea of the “war on terror” has encouraged many countries to see their problems through a highly militarized lens, using this to justify high military spending,’ comments Dr Sam Perlo-Freeman, Head of the Military Expenditure Project at SIPRI. ‘Meanwhile, the wars in Iraq and Afghanistan have cost $903 billion in additional military spending by the USA alone.’


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Military spending sets new record

Global military spending rose 4% in 2008 to a record $1,464bn (£914bn) - up 45% since 1999, according to the Stockholm-based peace institute Sipri.

In contrast with civilian aerospace and airlines, the defence industry remains healthy.

"The global financial crisis has yet to have an impact on major arms companies' revenues, profits and order backlogs," Sipri said.

Peace-keeping operations - which also benefit defence firms - rose 11%.

Missions were launched in trouble spots such as Darfur and the Democratic Republic of the Congo.

"Another record was set, with the total of international peace operation personnel reaching 187,586," said Sipri, or Stockholm International Peace Research Institute.

Growth industry

As the world's aerospace and defence industry prepares for next week's Paris air show centenary, it seems much of the focus is set to shift away from troubled civilian aircraft makers, which are struggling with reduced orders from recession-hit airlines, towards the companies that make fighter jets and other military hardware.

In total, the 100 leading defence manufacturers sold arms worth $347bn during 2007, the most recent year for which reliable data are available.

Almost all the companies were American or European. Some 61% of the total was accounted for by 44 US companies, with 32 West European companies accounting for a further 31%. Other companies were Russian, Japanese, Israeli and Indian.

"Since 2002, the value of the top 100 arms sales has increased by 37% in real terms," Sipri said. "The US presidency of George W Bush... was a period of continuity in the arms industry. This followed a period of consolidation in the 1990s and early 2000s."

The US aerospace and defence giant Boeing remains the world's largest, with arms sales of $30.5bn during 2007. The UK's BAE Systems ranked a close second, with arms sales of $29.9bn, while Lockheed Martin was third with $29.4bn in sales.

Big spender

The US remains the biggest spender, accounting for 58% of the total global spending increase during the decade, though China and Russia have reduced the gap.

Both tripled military spending over the decade, and Russia "is maintaining plans for further increases despite severe economic problems".

Military spending in the Middle East fell slightly during 2008, but Sipri saw this as a temporary drop. "Many countries in the region [are] planning major arms purchases," Sipri said.

One exception was Iraq, whose military budget rose 133% during 2008 when compared with 2007. "Iraq remains highly dependent on the US for ams supplies, with numerous orders planned," Sipri says.

US military spending accounted for 58% of the total global spending increase during the decade, with extra funds set aside to fight the "war on terror".

In addition, the wars in Afghanistan and Iraq cost the US $903bn.

"The idea of the 'war on terror' has encouraged many countries to see their problems through a highly militarised lens, using this to justify high military spending," said Sam Perlo-Freeman, head of the military expenditure project at Sipri, or Stockholm International Peace Research Institute.

Trouble ahead?

High levels of military spending can cause economic difficulties for even the wealthiest of nations, Sipri insisted.

"During the eight-year presidency of George W Bush, US military expenditure increased to the highest level in real terms since World War Two," Sipri said.

"This increase has contributed to soaring budget deficits," the yearbook states, pointing to how both the Iraq and Afghanistan conflicts were funded "primarily through emergency supplemental appropriations outside the regular budgetary process", funded by borrowing.

"Arms companies may face reduced demand in the future if governments cut military spending in response to rising budget deficits," Sipri observed.

The top 10 global arms producers
Eurofighter Typhoon
Boeing $30.5bn
BAE Systems $29.9bn
Lockheed Martin $29.4bn
Northrop Grumman$24.6bn
General Dynamics $21.5bn
Raytheon $19.5bn
EADS (West Europe) $13.1bn
L-3 Communications $11.2bn
Finmeccanica $9.9bn
Thales $9.4bn
Source: Sipri

he top 10 military spenders
Military spending rose under George W Bush
USA $607bn
China $84.9bn
France $65.74bn
UK $65.35bn
Russia $58.6bn
Germany $46.87bn
Japan $46.38bn
Italy $40.69bn
Saudi Arabia $38.2bn
India $30.0bn
Source: Sipri. All figures from 2008.

BBC NEWS | Business | Military spending sets new record
 

pyromaniac

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Global arms spending hits record

Global military spending reached a record $1,464 billion last year with the United States taking up by far the biggest share of the total, Stockholm International Peace Research Institute (SIPRI) said on Monday.

Arms shipments were up 4 percent worldwide from 2007 and 45 percent higher than in 1999, the think tank said in its annual study of the global arms trade.

"The idea of the 'war on terror' has encouraged many countries to see their problems through a highly militarized lens, using this to justify high military spending," Sam Perlo-Freeman, head of the Military Expenditure Project at the think tank said in a statement.

"Meanwhile, the wars in Iraq and Afghanistan have cost $903 billion in additional military spending by the USA alone."

The United States accounted for 58 percent of the worldwide increase between 1999 and 2008. China and Russia both nearly tripled their military spending over the decade, SIPRI said.

Other countries such as India, Saudi Arabia, Iran, Israel, Brazil, South Korea, Algeria and Britain also contributed substantially to the total increase.

The institute, which conducts independent research on international security, armaments and disarmament, said last year's military spending comprised about 2.4 percent of global gross domestic product, corresponding to $217 per capita.

Last year there were around 8,400 operational nuclear warheads in the world, according to SIPRI estimates. Of them, almost 2,000 were kept on high alert and capable of being launched within minutes.

Counting spare warheads, those in storage and those due for dismantlement, there were some 23,300 nuclear weapons in the arsenals of eight states: the United States, Russia, China, Britain, France, India, Pakistan and Israel, it said.

U.S. Boeing remained the top arms producer in 2007 -- the most recent year for which reliable data is available -- with arms sales worth $30.5 billion.

All the top 20 companies among the 100 top producers in 2007 were either U.S. or European firms, the think tank said.

The total staff involved in peacekeeping operations also reached a record high of 187,586, an increase of 11 percent from a year earlier.

"Despite this, some of the ambitious missions being deployed in trouble spots like Darfur and the Democratic Republic of the Congo remain far short of their envisioned strengths," SIPRI said.

Global arms spending hits record in 2008: think tank | International | Reuters
 

MMuthu

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I am not sure what is meant by 'nonesence'. The Chinese are always right..... and what comes from their government sources is the correct data.... All other data is Non-sense. Heed to their advice. Wise people
 

F-14

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all hail the great Chinies
 

Arjak

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i didnt know s arabia spends that much in defence.............wow!!!!!!!!!! provided they dont spend much behind R&D and also TOT during acquisitions...........they must have heck of an imported force
 

F-14

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the GCC armed forces are all Total Import based forces
 

SATISH

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$607 billion of $1 trillion is being spent by the US on arms. They come here and tell us to cut down our defence spending. They are the most ridiculous people in the whole world.
 

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