According to the Stockholm International Peace Research Institute (SIPRI), the world’s 100 largest arms producers increased their sales by 4.2% last year. Total sales amounted to about $632 billion.
Last year, several arms producers increased their production in line with the increased demand caused by the wars in Ukraine and Gaza. Revenues from arms sales rose in all regions among the 100 largest companies.
Of these 100 companies, 41 are based in the United States and reported revenues of around $317 billion, accounting for half of the total arms revenues on the list.
Six of the companies on the top list are based in the Middle East and their total revenues increased by 18% last year. The three Israeli companies on the list increased their revenues by $13 billion. This is the highest figure recorded by Israeli arms producers in the list.
Furthermore, the two Russian companies on the list increased their revenues by 40%.
Lorenzo Scarazzato, a researcher at SIPRI’s Military Expenditure and Arms Production Program, predicts that arms revenues are likely to continue to grow next year.
– The arms revenues of the Top 100 arms producers still did not fully reflect the scale of demand, and many companies have launched recruitment drives, suggesting they are optimistic about future sales, he said in a press release.
