Global military spending reached nearly $2.9 trillion in 2025, marking an 11th consecutive year of growth, researchers said Monday, as insecurity and rearmament fuelled defence budgets.

The three top spenders -- the United States, China and Russia -- spent a combined total of $1.48 trillion, just over half of global expenditure.

Spending rose by 2.9 per cent compared with 2024, despite a reduction by the US, the world's biggest spender, according to a report by the Stockholm International Peace Research Institute (SIPRI).

Researcher Lorenzo Scarazzato told AFP the decrease from the US was more than offset by increases in Europe and Asia, as the world marked "another year of wars and increased tensions".