🚀 Big numbers alert! SIPRI's new report, released last Monday, reveals that in 2024 the world's arms industry hit a record $679 billion in revenue. U.S. firms alone pulled in $334 billion—almost half of the total!
📈 Overall, the Top 100 arms producers and military services companies saw a 5.9% rise in revenue compared to 2023. European and U.S. companies led the charge, with 39 U.S. firms boosting their sales by 3.8%.
🌌 SpaceX made its Top 100 debut this year, doubling its arms sales to $1.8 billion and showing that even space-focused companies are joining the defense game.
🔥 SIPRI points to the Russia–Ukraine conflict, tensions in the Middle East, and growing geopolitical rivalries worldwide as key drivers behind this surge in military spending.
🔍 Founded in 1966, the Stockholm International Peace Research Institute (SIPRI) is a leading source for data on arms control and disarmament, making sense of these big trends.
Reference(s):
U.S. firms account for nearly half of global arms revenue in 2024
cgtn.com
