25 Most Powerful Countries in the World by Military

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In this article, we look at the 25 most powerful countries in the world by military. You can skip our detailed analysis on countries racking up their defense capabilities and its impact on the armaments manufacturing industry by directly heading over to our list of the 10 Most Powerful Countries In The World By Military.

The last three years have been marred by conflict, with no end in sight. Russia’s war in Ukraine has been ongoing for the last 650 days with scores dead and millions displaced. There are regular border skirmishes in the Caucasus between Azerbaijan and Armenia, with the former having seized parts of the Nagorno-Karabakh region from Armenian control during the fall of 2020. Afghanistan’s collapse to the Taliban in 2021 has also created a security challenge for regional countries. Worst of all, the Middle East is up in flames after Israel invaded the Gaza strip following hundreds of Hamas fighters launching an attack on Israel last month.

Driven by security challenges, several nations of the world are increasing defense spending to equip their militaries with advanced, sophisticated weapons required to enhance their capabilities. Global defense spending reached a record high of $2.2 trillion in 2022, according to the Stockholm International Peace Research Institute (SIPRI), with Europe having its steepest rise in expenditure in 30 years. The United States, China, and Russia accounted for more than half of all military spending that year, while defense expenditure of NATO member countries rose 0.9% to total $1.2 trillion.

The uptick in defense expenditure has meant a boom for the global defense industry. Lockheed Martin Corporation (NYSE:LMT) posted revenues of a whopping $66 billion in 2022, and earned $5.7 billion in profits. The company is the largest defense contractor in the US and received 11% of all DoD military-related contracts last year. RTX Corporation (NYSE:RTX) also reported an 8.9% increase in its net earnings compared to 2021. Northrop Grumman Corporation (NYSE:NOC)’s sales were also significantly higher in 2022 compared to the previous year.

The United States continues to retain its aerial and naval superiority over both China and Russia because of its fleet of the fifth-generation fighter jets and advanced aircraft carriers, including a $13.3 billion warship. In 2005, Lockheed Martin Corporation (NYSE:LMT)’s F-22 Raptor enabled the United States to become the first country to have a fifth-generation fighter jet. Later in 2015, Lockheed Martin Corporation (NYSE:LMT) developed the F-35B Lightning II to give the US Air Force a further edge over its rivals in aerial space.