Wars, Regional Tensions Boost Arms Sales: Report
Sales by major arms makers were boosted last year by wars in Ukraine and Gaza and tensions in Asia, with marked increases for manufacturers based in Russia and the Middle East, a report said Monday.
Sales of arms and military services by the world's 100 largest arms companies totalled $632 billion in 2023, up 4.2 percent, according to a report by the Stockholm International Peace Research Institute (SIPRI).
Revenues had dipped in 2022 as global weapons makers struggled to meet the increase in demand, but many of them managed to increase production last year, the authors of the report noted.
