AI-Summary – News For Tomorrow
In 2024, the world’s top 100 arms-producing companies experienced a record 5.9% revenue increase, reaching $679 billion, driven by the conflicts in Ukraine and Gaza and rising military spending. European and US companies spearheaded this growth, with Europe seeing a 13% surge to $151 billion and the US a 3.8% rise to $334 billion. Notably, the Czech Republic’s Czechoslovak Group and Ukraine’s JSC Ukrainian Defense Industry saw huge gains. Middle Eastern and Israeli arms revenues also increased. Asia and Oceania were the exceptions to this global trend. Despite controversy over Israeli actions, interest in Israeli weapons remained high.
News summary provided by Gemini AI.
Published on: Dec 01, 2025 08:52 am IST
The bulk of the increase was down to companies based in Europe and the United States, but there were increases around the world — except in Asia and Oceania.
The world’s biggest weapons-producing companies saw a 5.9% increase in revenue from sales of arms and military services last year as demand was fed by the wars in Ukraine and Gaza as well as countries’ rising military spending, according to a report released Monday.
Twenty-three of the 26 companies in Europe, excluding Russia, saw their arms revenue increase as the continent boosted spending. Their aggregate income rose by 13% to $151 billion, fueled by demand linked to the war in Ukraine and the perceived threat from Russia.(AFP/Representational)
The Stockholm International Peace Research Institute, or SIPRI, said the revenues of the 100 largest arms makers grew to $679 billion in 2024, the highest figure it has recorded.
Thirty of the 39 U.S. companies in the top 100 — including Lockheed Martin, Northrop Grumman and General Dynamics — posted increases. Their combined revenue was up 3.8% at $334 billion. But SIPRI noted that “widespread delays and budget overruns continue to plague development and production” in major U.S.-led programs, including the F-35 fighter jet.
There were notably big gains for the Czech Republic’s Czechoslovak Group, whose revenue soared by 193% thanks in part to a government-led project to source artillery shells for Ukraine; and for Ukraine’s JSC Ukrainian Defense Industry, which had a 41% gain.
Arms revenue also grew in the Middle East, and the three Israeli companies in the ranking had a 16% increase to $16.2 billion. In 2024, the backlash over Israeli actions in Gaza “seems to have had little impact on interest in Israeli weapons,’ SIPRI researcher Zubaida Karim said, and many countries continued to place new orders.
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