While democracy doesn't automatically lead to peace, in fact it can be the opposite, democracy is a vital part of any global peace strategy. We need a global democratic government to ensure peace and to ensure many other things, but unfortunately that seems so far off it's almost utopian, unfortunately.
The situation a people are in matters more than whether they are democratic. A fascist regime or monarchy can easily flourish if the people are still not experiencing hardship. As long as the geopolitcal landscape is in favor of the people and the nation in general, the democracy is not needed.