Reuters Article:

"World military spending rose for a sixth year running in 2004, growing by 5 percent to $1.04 trillion on the back of 'massive' U.S. budgetary allocations for its war on terror, a leading research institute said on Tuesday. With expenditure of $455 billion, the United States accounted for almost half the global figure, more than the combined total of the 32 next most powerful nations."