Budget: $34 billion
Active frontline personnel: 320,000
Total aircraft: 760
The Italian military placed high on Credit Suisse's report because of the country's possession of two active aircraft carriers. These carriers, in addition to the country's relatively large submarine and attack-helicopter fleets, drastically boosted Italy's ranking.
An Italian air force Eurofighter Typhoon fighter patrols over the Baltics during a NATO air-policing mission from Zokniai air base near Siauliai on February 10, 2015.