The world's 100 largest arms manufacturers increased their revenues last year to a total of 6,900 billion kronor, according to figures from the peace research institute Sipri. This is an increase of 4.2 percent compared to 2022.
The reasons for this, writes Sipri, are due to the wars in Gaza and Ukraine, as well as increased tensions in parts of East Asia.
In 2024, revenues are expected to have increased further.
"The revenues of the Top 100 arms manufacturers did not, however, match the scope of demand, and several companies have launched recruitment campaigns, which suggests optimism regarding future sales," says Lorenzo Scarazzato, researcher at Sipri's program for military expenditure and arms production, in a press release.
