Record $91.4 billion spent on nuclear weapons in 2023
The world's major powers ramped up their nuclear weapons spending by 13% to a record $91.4 billion in 2023, as reported by the International Campaign to Abolish Nuclear Weapons (ICAN) on June 17, 2024. The United States led this increase with a contribution of $51.5 billion, accounting for more than the combined total of all other nuclear-armed countries and representing an 80% rise in nuclear weapons spending that year.
China, Russia follow US in nuclear spending
China was the second-largest spender on nuclear weapons in 2023 with an expenditure of $11.8 billion, followed by Russia at $8.3 billion. India allocated $2.7 billion to nuclear weapons, while Pakistan, despite financial challenges, spent one billion dollars on these arms last year. ICAN chief Melissa Parke told AFP, "I think it is fair to say there is a nuclear arms race underway."
US, Russia dominate nuclear warhead possession
The United States and Russia remain the world's two largest nuclear-armed nations, holding 90% of all nuclear warheads as per data from the Stockholm International Peace Research Institute (SIPRI). Despite a slight decrease in estimated nuclear warheads worldwide from 12,512 to 12,121 at the start of this year, SIPRI reports that there were still 9,585 warheads held in stockpiles. Of the 9,585 warheads held in stockpiles, 2,100 were kept in a state of "high operational alert" on ballistic missiles.
High alert warheads and China's new status
The United States and Russia hold nearly all of these high-alert warheads. For the first time, China is also believed to have some warheads on high operational alert. ICAN co-author Susy Snyder stated that nuclear nations are poised to spend $100 billion a year on nuclear weapons. SIPRI director Dan Smith expressed concern over the increasing prominence of nuclear weapons in international relations since the Cold War.
