Rising demand for wars, global arms companies’ revenue at record level In 2024, the total revenue of the world’s 100 largest arms companies increased by 5.9% to $679 billion (1830 trillion rupees), mainly due to the demand for weapons in Ukraine, Gaza war, the US, Europe, Russia, and the Middle East.

According to a report by the Stockholm International Peace Research Institute (SIPRI), the total revenue of the world’s 100 largest arms companies increased by 5.9% to a record $679 billion in 2024, mainly due to the ongoing wars in Ukraine and Gaza, global and regional tensions, and increasing military spending. Companies in the US, Europe, and Russia increased their revenue, while overall revenue decreased in Asia and Oceania due to problems with the Chinese arms industry.

European companies increased investment in production, Russian companies grew by 23% despite sanctions and a shortage of skilled labor, and nine companies in the Middle East made the top 100 for the first time.