Led by US, Revenue of Major Weapons Makers Hit All-Time High in 2024

From [HERE] An annual report out Monday that tracks global arms sales shows that weapons makers in 2024 generated more revenue than at any time since the group behind the research began tracking the data over 35 years ago.

The annual report by the Stockholm International Peace Research Institute (SIPRI) shows that the top 100 weapons makers in the world—led by those in the United States—brought in a record-setting $679 billion over the course of the year, fueled mainly by the war in Ukraine, Israel’s genocidal assault on Gaza, and spending on nuclear weaponry.

“Last year global arms revenues reached the highest level ever recorded by SIPRI as producers capitalized on high demand,” said Lorenzo Scarazzato, a researcher with the SIPRI Military Expenditure and Arms Production Programme, which has been tracking global arms sales since 1989.

“In 2024,” the report explains, “the growing demand for military equipment around the world, primarily linked to rising geopolitical tensions, accelerated the increase in total Top 100 arms revenues seen in 2023. More than three-quarters of companies in the Top 100 (77 companies) increased their arms revenues in 2024, with 42 reporting at least double-digit percentage growth.” [MORE]