25 Countries with the Strongest Armies in the World - InvestingChannel

25 Countries with the Strongest Armies in the World

In this article, we look at 25 countries with the strongest armies in the world. You can skip our detailed analysis on trends in the defense industry and head over directly to the 10 Countries with the Strongest Armies in the World.

The world has been embroiled in one-after-another conflict since the last few years. Afghanistan has collapsed to the Taliban. Azerbaijan and Armenia exchange regular fire in the Caucasus after the former seized parts of the Nagorno-Karabakh region from Armenian control in 2020. Russia’s war on Ukraine has gone beyond two years (737 days), with no immediate end in sight. And if that was not it, the Middle East is facing what analysts describe as the worst crisis in the region since 1973 after Israel launched a full-scale invasion of Gaza in response to Hamas’ attacks on Israel in October last year.

Defense spending reached a record-high of $2.2 trillion in 2022, according to the Stockholm International Peace Research Institute, with Europe witnessing its steepest rise in military expenditure in three decades. While final figures for 2023 are still awaited, the need for weapons across the world amid ongoing escalations suggests the defense industry is set to continue booming, with companies such as Lockheed Martin Corporation (NYSE:LMT), RTX Corporation (NYSE:RTX), General Dynamics Corporation (NYSE:GD), and Northrop Grumman Corporation (NYSE:NOC) financially benefiting from the situation.

Lockheed Martin Corporation (NYSE:LMT)’s revenue has grown 2.4% compared to 2022, to total a whopping $67.6 billion in 2023. The company’s net earnings are also $1.2 billion higher than in the previous financial year. RTX Corporation (NYSE:RTX)’s annual revenue figure of $68.9 billion was also 3% higher than in 2022. On the other hand, General Dynamics Corporation (NYSE:GD) posted its record highest revenue in history of $42.3 billion in 2023, registering a 7.7% growth in comparison with 2022. 

In October last year (2023), it was reported that Lockheed Martin Corporation (NYSE:LMT)’s stocks had risen 2% after the company beat estimates and posted a higher than anticipated revenue during the third quarter of the year. According to analysts, the improved financial performance was owed to a sustained demand for weapons amid the ongoing military crises in different parts of the world.

RTX Corporation (NYSE:RTX) has received orders worth $3 billion since Russia waged war on Ukraine in February 2022, with the aim being to replenish Kyiv. General Dynamics Corporation (NYSE:GD)’s combat systems unit also generated a 25% YoY higher revenue during the third quarter of 2023. The unit, which manufactures tanks, armored vehicles, and artillery, has already seen the output of its artillery increase from 4,000 rounds per month to 20,000. General Dynamics Corporation (NYSE:GD) is the sixth largest defense contractor in the world heading into 2024. You can read more on this here.

Northrop Grumman Corporation (NYSE:NOC)’s share price has risen 6% since the declaration of Israel’s war against Hamas in Gaza in October last year. The company expects its revenue to be between $40.8 billion and $41.2 billion in 2024 due to an increasing demand for its weapons. The US Army awarded a $522 million contract to Global Military Products and Northrop Grumman Corporation (NYSE:NOC) in early 2023 to manufacture artillery ammunition for Ukraine.

Let’s now head over to the list of the strongest armies in the world.

25 Countries With The Strongest Armies In The World BPTU/Shutterstock.com

Methodology

Several weighted metrics have been considered in preparing the list of countries with the strongest armies in the world. These include manpower (10%), tanks (10%), armored fighting vehicles (10%), rocket projectors (10%), attack helicopters (15%), nuclear weapons (15%), GDP (10%), defense spending (10%), and technological capabilities (10%).

Data on tanks, manpower and nuclear weapons have been sourced from our recent article 24 Most Powerful Militaries in the World in 2024. For the fleet size of armored fighting vehicles, attack helicopters, and rocket projectors, we referred to figures stated by the Global Firepower Index 2024.

25 Largest Economies in the World in 2024 and 20 Countries With Highest Military Spending In The World were consulted for data related to GDP and defense spending. It must be noted that the GDP figures are for 2023, while for defense spending, 2022 is the latest year for which data is currently available. Lastly, the Global Innovation Index 2023 was used to determine the technological capabilities of countries.

We observed where countries ranked on each metric, and then multiplied their ranking with the weight for that metric. That gave us a weighted ranking for that country on a particular metric. For example, if a country ranked 1st on a metric weighed at 10%, it received a weighted ranking score of 0.1 (1×10%). This was done for all metrics considered in our research. Finally, all weighted ranking scores were aggregated to get an overall weighted ranking. Our list of the 25 countries with the strongest armies in the world is sorted in descending order of their overall weighted rankings.

Please note that the list is about strongest armies, not necessarily strongest militaries. 

By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.

25 Countries with the Strongest Armies in the World

25. Australia

Manpower: 57,350

Tanks: 59

Armored Fighting Vehicles: 16,162

Rocket Projectors: None

Attack Helicopters: 22

Nuclear Weapons: None

GDP (2023): $1.69 trillion

Defense Spending (2022): $32.3 billion

Technological Capabilities: 24/132

Weighted Ranking: 21.30

Australia boasts one of the most powerful armies in the world. Its personnel and officers are deployed in various overseas locations as well to safeguard Australian interests. 

24. United Arab Emirates

Manpower: 65,000

Tanks: 354

Armored Fighting Vehicles: 12,253

Rocket Projectors: 162

Attack Helicopters: 30

Nuclear Weapons: None

GDP (2023): $509 billion

Defense Spending (2022): $22.7 billion

Technological Capabilities: 32/132

Weighted Ranking: 20.80

The United Arab Emirates is next on our list. It is one of the most powerful countries in the Middle East, and a key ally of the United States in ensuring security in the region. The Emirati Army plays an active role in regional conflicts – most notably in Yemen.

23. Vietnam

Manpower: 600,000

Tanks: 2,029

Armored Fighting Vehicles: 18,578

Rocket Projectors: 450

Attack Helicopters: 0

Nuclear Weapons: None

GDP (2023): $433 billion

Defense Spending (2022): $5.5 billion

Technological Capabilities: 46/132

Weighted Ranking: 19.70

Vietnam is among countries with the strongest ground forces in the world, with a sizable manpower of about 600,000 troops, and a large fleet of battle tanks and armored fighting vehicles.

22. Poland

Manpower: 202,100

Tanks: 612

Armored Fighting Vehicles: 13,956

Rocket Projectors: 221

Attack Helicopters: 30

Nuclear Weapons: None

GDP (2023): $842 billion

Defense Spending (2022): $16.6 billion

Technological Capabilities: 41/132

Weighted Ranking: 18.95

The Polish army’s strength is set to be further enhanced after a $1.4 billion deal with General Dynamics Corporation (NYSE:GD) last year for 116 M1A1 Abrams tanks. Poland’s defense spending as a share of the GDP (2.42%) is the fourth highest among NATO member nations.

21. Brazil

Manpower: 360,000

Tanks: 469

Armored Fighting Vehicles: 44,044

Rocket Projectors: 78

Attack Helicopters: 0

Nuclear Weapons: None

GDP (2023): $2.13 trillion

Defense Spending (2022): $20.21 billion

Technological Capabilities: 49/132

Weighted Ranking: 18.45

Brazil has the ninth largest economy in the world. The country is leveraging its economic strength to build a strong armed forces. Its ground forces are 360,000 personnel strong and boast a large fleet of armored fighting vehicles. Brazil spent over $20 billion on defense expenditure in 2022, according to SIPRI.

20. Algeria

Manpower: 325,000

Tanks: 1,632

Armored Fighting Vehicles: 35,990

Rocket Projectors: 236

Attack Helicopters: 75

Nuclear Weapons: None

GDP (2023): $224 billion

Defense Spending (2022):$9.14 billion

Technological Capabilities: 119/132

Weighted Ranking: 17.95

Algeria is the third most powerful military in Africa, with its ground forces considered to be among the strongest in the world. The country has the fifteenth largest fleet of battle tanks, along with a huge number of armored fighting vehicles and attack helicopters. Algeria ranks low on technological capabilities and sources most of its military equipment from Russia.

19. Iran

Manpower: 610,000

Tanks: 1,996

Armored Fighting Vehicles: 65,765

Rocket Projectors: 775

Attack Helicopters: 13

Nuclear Weapons: None

GDP (2023): $366 billion

Defense Spending (2022): $6.84 billion

Technological Capabilities: 62/132

Weighted Ranking: 17.70

Despite being under heavy sanctions from the West for several decades, Iran still manages to boast a powerful, battle-hardened army that is over 600,000 personnel strong, and has a large fleet of battle tanks and armored fighting vehicles. The Iranian military has been actively involved in the conflicts in the Middle East, especially in Iraq and Syria.

18. North Korea

Manpower: 1,320,000

Tanks: 5,845

Armored Fighting Vehicles: 24,696

Rocket Projectors: 2,920

Attack Helicopters: 20

Nuclear Weapons: 40

GDP (2023): $21 billion

Defense Spending (2022): $1.6 billion

Technological Capabilities: Not Listed

Weighted Ranking: 17.25

North Korea has one of the largest standing armies in the world, with a manpower in excess of 1.3 million people. Much of the equipment possessed by their soldiers, however, is old and outdated. The size of the North Korean economy coupled with international sanctions hinders the military upgradation efforts of Pyongyang.

17. Ukraine

Manpower: 900,000

Tanks: 1,777

Armored Fighting Vehicles: 22,110

Rocket Projectors: 491

Attack Helicopters: 33

Nuclear Weapons: None

GDP (2023): $173 billion

Defense Spending (2022): $44 billion

Technological Capabilities: 55/132

Weighted Ranking: 16.10

Ukraine’s resistance against Russian invasion has received wide praise from defense experts across the world. The country channeled about $44 billion in defense spending in 2022, and has been aided by its western allies as well in the form of financial, military and humanitarian support – most notably, the United States. RTX Corporation (NYSE:RTX) is working on providing six advanced surface-to-air missile system batteries to Kyiv under a $1.2 billion order placed by the US. You can read more about this in our article, 15 Countries that Provided the Highest Military Aid to Ukraine.

16. Italy

Manpower: 165,500

Tanks: 200

Armored Fighting Vehicles: 61,892

Rocket Projectors: 21

Attack Helicopters: 57

Nuclear Weapons: None

GDP (2023): $2.19 trillion

Defense Spending (2022): $33.49 billion

Technological Capabilities: 26/132

Weighted Ranking: 16.10

Next on our list of countries with the strongest armies in the world is Italy, whose troops are well known for their contribution to peacekeeping missions worldwide. The country has high military technological capabilities and spent over $33 billion in 2022 to upgrade its armed forces. 

15. Saudi Arabia

Manpower: 257,000

Tanks: 1,485

Armored Fighting Vehicles: 20,694

Rocket Projectors: 490

Attack Helicopters: 34

Nuclear Weapons: None

GDP (2023): $1.07 trillion

Defense Spending (2022): $75 billion

Technological Capabilities: 48/132

Weighted Ranking: 15.25

Saudi Arabia was the fifth largest military spender in the world in 2022, having incurred about $75 billion in defense expenditure that year. The Saudi army has a sizable manpower of over 250,000 active troops, and a large number of battle tanks, armored fighting vehicles, rocket projectors, and attack helicopters.

14. Israel

Manpower: 170,000

Tanks: 1,370

Armored Fighting Vehicles: 43,407

Rocket Projectors: 150

Attack Helicopters: 48

Nuclear Weapons: 90

GDP (2023): $522 billion

Defense Spending (2022): $23.41 billion

Technological Capabilities: 14/132

Weighted Ranking: 14.95

Israel is the most technologically advanced country in the Middle East and while much of its military strength is derived from its aerial power, it still boasts one of the strongest armies in the world. It is among the few nations of the world to be equipped with nuclear weapons.

13. Taiwan

Manpower: 215,000

Tanks: 1,010

Armored Fighting Vehicles: 19,868

Rocket Projectors: 223

Attack Helicopters: 91

Nuclear Weapons: None

GDP (2023): $752 billion

Defense Spending (2022): $12.51 billion

Technological Capabilities: 7/132

Weighted Ranking: 14.90

Taiwan has one of the strongest armies in the world. The government in Taipei, right since independence, has focused on building a potent armed forces due to the perceived threat of aggression from China. The country ranks high on military technological capabilities, and spent over $12 billion on defense expenditure in 2022.

12. Pakistan

Manpower: 654,000

Tanks: 3,742

Armored Fighting Vehicles: 50,523

Rocket Projectors: 602

Attack Helicopters: 57

Nuclear Weapons: 165

GDP (2023): $340 billion

Defense Spending (2022): $10.33 billion

Technological Capabilities: 88/132

Weighted Ranking: 14.25

Pakistan boasts one of the strongest militaries in the world. Its battle-hardened ground forces are one of the rare armies that have managed to push back terrorist groups, having achieved great success against militants in the volatile Af-Pak border region. Another key strength of Pakistan’s army is its access to nuclear weapons. The country has leaped ahead of arch-rival India as well in the nuclear realm.

11. Egypt

Manpower: 440,000

Tanks: 5,340

Armored Fighting Vehicles: 77,596

Rocket Projectors: 1,119

Attack Helicopters: 100

Nuclear Weapons: None

GDP (2023): $398 billion

Defense Spending (2022): $4.65 billion

Technological Capabilities: 86/132

Weighted Ranking: 14.15

Egypt is the most powerful military in Africa. The country’s ground forces have a sizable manpower of 440,000 troops, and are equipped with large fleets of armored fighting vehicles, battle tanks, and attack helicopters. Instability in Libya and rising terrorist activities in Egypt’s Sinai peninsula have forced the government led by President Sisi to increase defense expenditure to further strengthen the armed forces.

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Disclosure: None. 25 Countries with the Strongest Armies in the World is originally published on Insider Monkey.

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