Source: Responsible Statecraft
by William Hartung
“Revenues at the world’s top 100 global arms and military services producing companies totaled $632 billion in 2023, a 4.2% increase over the prior year, according to new data released by the Stockholm International Peace Research Institute (SIPRI). The largest increases were tied to ongoing conflicts, including a 40% increase in revenues for Russian companies involved in supplying Moscow’s war on Ukraine and record sales for Israeli firms producing weapons used in that nation’s brutal war on Gaza. Revenues for Turkey’s top arms producing companies also rose sharply — by 24% — on the strength of increased domestic defense spending plus exports tied to the war in Ukraine. The United States remains the world’s dominant arms producing nation, with $318 billion in revenues flowing to American firms in the world’s top 100 for 2023, more than half of the global total.” (12/03/24)