Overview
- Revenues for the Top 100 arms makers rose 5.9% to $679 billion in 2024, up 26% since 2015, according to SIPRI’s new ranking.
- U.S. firms generated about $334 billion (+3.8%) and European companies $151 billion (+13%), with SIPRI flagging persistent U.S. program delays and budget overruns alongside material sourcing risks for Europe.
- Asia and Oceania recorded a 1.2% decline to $130 billion, driven by a 10% drop among Chinese companies after corruption-linked delays or cancellations of major contracts.
- Russia’s Rostec and United Shipbuilding Corporation saw combined revenues rise 23% to $31.2 billion on domestic demand despite sanctions, with skilled‑labor shortages remaining a constraint.
- Notable shifts included SpaceX entering the Top 100 with about $1.8 billion in arms revenue, the Czechoslovak Group jumping 193% to $3.6 billion on Ukraine-related artillery, and a larger Middle East footprint with nine firms as Israel’s three companies rose 16% to $16.2 billion.