Overview
- Global arms revenue rose 5.9% to $679 billion in 2024, driven by procurement linked to the wars in Ukraine and Gaza and by higher defense budgets.
- U.S. companies in the top 100 grew 3.8% to $334 billion and European firms (excluding Russia) climbed 13% to $151 billion, with standouts including Czechoslovak Group (+193%) and Ukraine’s state defense group (+41%); Middle East producers reached $31 billion, and Israel’s three firms increased sales 16% to $16.2 billion.
- Asia–Oceania recorded a 1.2% drop as revenues at eight Chinese firms fell 10% after corruption investigations led to postponed or canceled contracts.
- Russia’s Rostec and United Shipbuilding posted a combined 23% sales increase to $31.2 billion, with domestic demand offsetting export losses despite sanctions and component shortages.
- Manufacturers expanded production capacity, yet SIPRI highlights persistent program delays, cost overruns, labor strains and critical‑minerals supply risks, with U.S. efforts like the F‑35, Columbia submarines and Sentinel facing ongoing setbacks.