Global arms sales hit $632 billion in 2023, a 4.2% rise, fueled by conflicts and regional tensions.

In 2023, global arms sales by the 100 largest arms companies increased by 4.2%, reaching $632 billion, driven by conflicts in Ukraine and Gaza, and regional tensions in Asia. Sales for Russian and Middle Eastern manufacturers saw significant growth, with Russia's Rostec experiencing a 49% rise. The US accounted for half of the global arms revenue, while smaller producers were more efficient in meeting demand. SIPRI expects the trend to continue in 2024.

December 01, 2024
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