Even as a percentage of GDP, US military spending is maybe 20th-highest in the world[0]. The countries spending more tend to be some combination of:

- at war, or civil war (ukraine, south sudan, iraq)

- with historical conflict with larger neighbours, and reaso to worry about it breaking out again (Pakistan, Israel)

- sitting on enough oil that GDP gets distorted anyway (saudi arabia, Azerbaijan

So yes, US military spending is way out of proportion to the rest of the world.

[0] http://data.worldbank.org/indicator/MS.MIL.XPND.GD.ZS?year_h...