US EditionReport Says World’s Biggest Arms Producers Increased Revenue by 5.9% Last Year to Record Level
- On Monday, the Stockholm International Peace Research Institute reported that 2024 global arms revenues reached a record $679bn, a 5.9% increase from 2023, driven by conflicts in Ukraine and Gaza.
- Jade Guiberteau Ricard, SIPRI researcher, said demand surged as Ukraine and supporting countries replenished stockpiles while European states expanded militaries amid heightened Russia threat.
- US companies accounted for $334bn in combined revenue with 39 top-100 firms, while the 26 European arms companies grew 13% to $151bn and Russian firms Rostec and United Shipbuilding Corporation rose 23% to $31.2bn amid boosted 152mm artillery production.
- European arms companies are investing in new production capacity but face sourcing challenges for critical minerals as China tightens export controls; US defence programmes like the F-35 and Columbia-class submarines suffer delays and overruns.
- Nan Tian noted the recent revenue surge, saying `In the last two years, the revenues have gone up substantially in these arms companies`; the nine Middle East companies posted $31 billion and the three Israeli arms companies increased revenues 16% to $16.2 billion.
43 Articles
43 Articles
Global Arms Industry Booms Amid Rising Conflicts and Military Spending
Global Arms Industry Booms Amid Rising Conflicts and Military Spending The world's largest weapons manufacturers experienced a 5.9% boost in revenue from arms and military services sales last year, driven mainly by ongoing conflicts in Ukraine and Gaza, as well as increasing military expenditures, a SIPRI report has disclosed.The revenues from the 100 leading arms makers soared to $679 billion in 2024, marking the highest level recorded by SIPRI…
Attracted by the conflicts in Ukraine and Gaza, sales of the world's 100 largest weapons manufacturers reached a new record in 2024, despite production problems that hamper deliveries, according to a report published on Monday.
Associated Press News
Report says world's biggest arms producers increased revenue by 5.9% last year to record level
A new report says that the world’s biggest weapons-producing companies saw a 5.9% increase in revenue from sales of arms and military services last year as demand was fed by the wars in Ukraine and Gaza as well as countries’ rising military spending.
SIPRI: War in Ukraine boosts arms manufacturers' profits
Arms manufacturers have never earned as much as they did in 2024. This is according to a report by the Stockholm International Peace Research Institute (SIPRI) on the 100 most important arms manufacturers worldwide. Their revenues from the sale of weapons and military services amounted to $679 billion (€582 billion) last year. This represents an inflation-adjusted increase of 5.9% compared to 2023. Even then, increasing geopolitical tensions and…
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