Regulations and Government
World Military Spending Inches Up; Top Spenders Trade Places
Saudi Arabia overtook Russia as the third largest spender on military activities and equipment in 2015, following the U.S. and China.
U.S. airmen attend to an F-35A Lightning II fighter at Mountain Home AFB, Idaho, in February. (Photo: U.S. Air Force)
U.S. airmen attend to an F-35A Lightning II fighter at Mountain Home AFB, Idaho, in February. (Photo: U.S. Air Force)

World militaries spent nearly $1.67 trillion on defense activities and equipment in 2015, an increase of 1 percent in real terms over the previous year and the first uptick since 2011, according to the Stockholm International Peace Research Institute (Sipri). Saudi Arabia overtook Russia as the third biggest-spending nation behind the U.S. and China, but this was mainly due to the decline in the value of the Russian ruble, the institute said.