Defence spending in 2011 reached $1.738bn dollars globally according to new figures from the Stockholm International Peace Research Institute (SIPRI).
While the figure is actually higher than that of 2010 the falling value of the dollar and price changes mean the figure is essentially unchanged.
According to SIPRI the levelling out in defence spending is the result of a mixture of economic austerity measures and international security patterns.
Austerity measures in the US and western Europe has been balanced against significantly increased expenditure in the Middle East caused by upheaval during the Arab Spring, as well as more moderate increases in Asia, Oceania, Africa and Latin America.
According to Dr Sam Perlo Freedman, SIPRI Military Expenditure Project head, it is too early to say whether the flattening of military spending in 2011 represents a long-term trend change.
"While we are likely to see some further falls in the USA and Europe in the next few years, trends in Asia, Africa and the Middle East continue to be upward for now, and any major new war could change the picture dramatically," said Freedman.
"The after-effects of the global economic crisis, especially deficit-reduction measures in the USA and Europe, have finally brought the decade-long rise in military spending to a halt - at least for now."
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To read our full Global Military Spend report 2011 click here