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84% Informative
Global defense spending for 2023 at a record high of $2.44 trillion , having risen 6.8% compared to the previous year .
The United States accounted for 37.5% of the world's total military spending in 2023 .
The surge in defense spending over the last two years , specifically after Russia 's invasion of Ukraine in 2022 , has created a boom in the global defense industry.
Lockheed Martin Corporation ( NYSE : LMT )'s share price has gained 29% since the start of the Ukraine war in early 2022 .
The United States has the best military in the world.
The country outranks all counterparts in ground forces, aerial, and naval strength.
In 2023 , Washington spent a staggering $916 billion on defense expenditure.
Washington spent two-fifths of the world's military spending and 68% of NATO 's defense expenditure during the year .
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