The United States spent  on its military in 2019, 36% of global military spending. At 4.7% of GDP, the rate was the second-highest among the top 15 military spenders, after Saudi Arabia. Defense spending plays a major role in science and technology investment, with roughly half of U.S. federal research and development funded by the Department of Defense. Defense's share of the overall U.S. economy has generally declined in recent decades, from early Cold War peaks of 14.2% of GDP in 1953 and 69.5% of federal spending in 1954 to 4.7% of GDP and 18.8% of federal spending in 2011. In total number of personnel, the United States has the third-largest combined armed forces in the world, behind the Chinese People's Liberation Army and Indian Armed Forces.