A Swedish think tank says the world’s top weapons producers posted record combined revenues last year due mainly to rising geopolitical tensions.
The Stockholm International Peace Research Institute said in a report published on Monday that the total revenues of the 100 largest arms producers increased 5.9 percent from a year earlier to 679 billion dollars.
Of them, 39 are US companies, including Lockheed Martin, which tops the list. They account for almost half of the total revenues.
Eight Chinese firms are among the top 100. Their sales declined from the year before, but they still have the second-largest share of the total revenues.
From Japan, Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Fujitsu and two others made it into the top 100. The Japanese companies’ revenues surged by 40 percent to 13.3 billion dollars.
The institute said, “Global arms revenues rose sharply in 2024, as demand was boosted by the wars in Ukraine and Gaza, global and regional geopolitical tensions, and ever-higher military expenditure.”