World's 10 Largest Military Powers US leads the way, by a lot, with China No. 2 By 247wallst, Newser User Posted Apr 14, 2011 10:22 AM CDT Promoted on Newser Apr 14, 2011 4:12 PM CDT 19 comments Comments In this image made on Feb. 22, Marines patrol the main road in the Wishtan area of Afghanistan. (AP Photo/ Sebastian Abbot) (User Submitted) – In 2010, the countries of the world spent a combined $1.63 trillion on their militaries, according to 24/7 Wall Street. That includes money for weapons, soldiers, and maintaining infrastructure. The US led the way by far with just below $700 billion, more than the other top nine countries combined. Others in the top 10 list: Italy (No. 10) $37 billion: Since 2001, military spending in the country has dropped 5.4%, the greatest decrease among all the countries featured on this list. The cutbacks are the result of Italy trying to tame its large debt. India (No. 9) $41.3 billion: Although military spending decreased by $1 billion in 2010, it increased by 11.6% in February in response to China and Pakistan's strong programs. Click for the full list, which has China at No. 2 with $119 billion in defense spending.