The New Zealand Defence Force worked with Australia to monitor a People’s Liberation Army – Navy (PLA-N) Task Group in the Tasman Sea in late February 2025. ANALYSIS: As small and middle powers work closer together to hedge against global volatility, many - including Australia and New Zealand - are also boosting military spending. Global military expenditure reached $2887 billion in 2025, according to data published by the Stockholm International Peace Research Institute (SIPRI).