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.
John Q. Hosedrinker