Arms Industry

News

Arms Industry Revenue Soars Amid Global Conflicts

The world’s 100 largest arms manufacturers experienced a 5.9% revenue increase in 2024, reaching a record $679 billion, fueled by conflicts in Ukraine and Gaza and global military spending. European and U.S. companies led the growth, with European arms revenue rising by 13% due to demand related to the war in Ukraine and U.S. revenue up 3.8%. While revenue increased in the Middle East and Russia, Asia and Oceania saw a slight decline due to issues in the Chinese arms industry.

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John Q. Hosedrinker
Russo-Ukrainian War

Pope Francis Criticizes Ukraine, Remains Silent on Russian Atrocities

In a recent interview, Pope Francis criticized the hypocrisy of simultaneously advocating for peace while supplying arms to Ukraine, highlighting Europe’s profitable arms industry as a key contradiction. He expressed concern over ignored peace appeals and the devastating impact of the war, particularly on Ukrainian youth. While calling for an urgent peace treaty, the Pope did not directly condemn Russia’s aggression, instead focusing on the need for dialogue and a cessation of hostilities. He reiterated his Christmas message urging a ceasefire across multiple global conflict zones.

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John Q. Hosedrinker

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