For the first time in more than two decades, a new Gallup survey has found that less than half of Americans believe the U.S. military remains the strongest in the world.

The survey, released Monday, finds that just 49 percent of Americans view the U.S. as the top global military power, marking the lowest percentage reported by Gallup in 23 years. In 2015, the percentage of Americans who viewed the U.S. military as the world's strongest was 10 percentage points greater at 59 percent.

While approximately two-thirds of respondents said the federal government spends too much on "national defense and military purposes," 37 percent said the U.S. is spending "too little" and 27 percent said defense spending is "about right."

The latest poll comes as national security has taken a front-and-center position in the 2016 presidential race and as more surveys show the American public fears the growing threat of militant Islamic terrorism.

Gallup surveyed 1,021 U.S. adults between Feb. 3-7. Results contain a margin of error of plus or minus 4 percent.