Global Arms Sales Decline for First Time Since 2015

US and Russian Defense Companies Suffer Revenue Drops, While Chinese Contractors See Continued Growth

Global arms sales fell by 3.5% in 2022, marking the first decline since 2015, despite a surge in conflicts, according to the Stockholm International Peace Research Institute (SIPRI).
US defense companies saw their revenues fall significantly by 7.9% to $302 billion due to production problems, labor shortages, rising costs, and supply chain disruptions.
Russian arms companies Rostec and the United Shipbuilding Corporation saw their combined revenue fall by 12% to $20.8 billion, amid the war on Ukraine and international sanctions.
European-based companies saw a modest sales growth of 0.9% to $121 billion, driven by the war in Ukraine and demand for ammunition and armored vehicles.
Chinese defense contractors saw income grow for the fourth straight year, with combined revenue for the top eight companies growing by 2.7% to $108 billion.