2014 will be the first year that global defence budgets will grow overall since 2009, according to the IHS Jane’s Annual Defence Budgets Review from IHS Inc the leading global source of information and analytics. Total global defence spending in 2014 will be USD1.547 trillion up from USD 1.538 trillion in 2013 - 0.6% increase in real terms.
By 2015, China will spend more than the UK, France and Germany combined. In 2015, China is expected to spend USD159.6 billion, while the sum of the three largest Western European markets is expected to reach just USD149.0 billion. Defence budgets in the five largest Western European markets (UK, France, Germany, Italy and Spain) decreased by 1.3 per cent in 2013. Regional spending totalled USD242.8 billion in 2013 and this is expected to decrease to USD237 billion by 2018 in real terms.”
IHS projections suggest that official Chinese defence spending for 2014 is likely to be in the region of USD130 billion, around 10 times the size of Taiwan’s budget. Taking adjustments for pensions and military R and D into account, Beijing’s military expenditure is now thought to account for around 9 percent of the global total.
The IHS defence budgets are not adjusted for lower wages in China or other purchasing power parity factors. They also do not include spending on actual military operations (like the US Afghanistan war) In 2012 based on purchasing power parity, China is expected to have a defence budget of $238 billion in 2015. This would be about half of the US defence budget
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By 2015, China will spend more than the UK, France and Germany combined. In 2015, China is expected to spend USD159.6 billion, while the sum of the three largest Western European markets is expected to reach just USD149.0 billion. Defence budgets in the five largest Western European markets (UK, France, Germany, Italy and Spain) decreased by 1.3 per cent in 2013. Regional spending totalled USD242.8 billion in 2013 and this is expected to decrease to USD237 billion by 2018 in real terms.”
IHS projections suggest that official Chinese defence spending for 2014 is likely to be in the region of USD130 billion, around 10 times the size of Taiwan’s budget. Taking adjustments for pensions and military R and D into account, Beijing’s military expenditure is now thought to account for around 9 percent of the global total.
The IHS defence budgets are not adjusted for lower wages in China or other purchasing power parity factors. They also do not include spending on actual military operations (like the US Afghanistan war) In 2012 based on purchasing power parity, China is expected to have a defence budget of $238 billion in 2015. This would be about half of the US defence budget
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Top Twenty Ranking
Defence Budget Ranking 2013
Rank Country $(millions)
1 USA 582,424
2 China 139,203
3 Russia 68,887
4 UK 58,854
5 Japan 56,842
6 France 53,091
7 India 46,183
8 Germany 44,688
9 Saudi Arabia 42,858
10 Korea,South 31,561
11 Brazil 29,516
12 Australia 29,444
13 Italy 27,790
14 Turkey 20,618
15 Canada 19,636
16 Taiwan 14,834
17 Spain 13,199
18 Colombia 13,190
19 Israel 13,097
20 Algeria 10,778
Source: IHS Jane’s Aerospace, Defence and Security
