Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Araghchi to Grossi: These parties will bear responsibility for the consequences of their actions
Araghchi to Grossi: Iran will respond to any unlawful action by European countries or parties attempting to turn the Agency into a tool for achieving their objectives
Araghchi to Grossi: We urge the Agency to warn against the consequences of any political move against Iran
Araghchi to Grossi: We call on the Agency to highlight Iran’s full cooperation during the upcoming Board of Governors meeting next week
Araghchi to Grossi: We demand that the Agency reflect the facts in a manner that prevents certain parties from exploiting it to advance their political agendas
Iranian Foreign Minister Abbas Araghchi holds a phone call with IAEA Director General Rafael Grossi
Trump envoy Witkoff has sent 'detailed and acceptable proposal' to Iran for nuclear deal; it's in their best interest to accept it: White House Press Secretary Leavitt
Hamas official says Witkoff's position toward group was 'unfair' and shows 'complete bias' to 'Israel'
Hamas official says it has considered Witkoff's proposal acceptable for negotiations, says 'Israel's' response was incompatible with what the group agreed on
Hamas official says group has not rejected Wikoff's proposal for Gaza ceasefire

Global arms sales hit $632Bln in 2023, US firms dominate with $317Bln

  • By Al Mayadeen English
  • Source: SIPRI
  • 7 Dec 2024 22:36
3 Min Read

The United States maintained its dominant position in the global arms market, with 41 companies featured in SIPRI's Top 100 arms manufacturers.

Listen
  • x
  • SIPRI AP
    In this photo released by the Taiwan Ministry of National Defense, Taiwan's military fire a US made M-1097 Avenger self-propelled ground-to-air weapon, during live fire exercises in Pingtung in southern Taiwan on Tuesday, April 16, 2024. (Taiwan Ministry of National Defense via AP)

The global arms industry experienced a significant revenue surge in 2023, with sales reaching $632 billion—a 4.2% increase from the previous year—according to a report by the Stockholm International Peace Research Institute (SIPRI).

The rise was largely driven by ongoing conflicts, such as the war in Ukraine and the Gaza genocide, as well as escalating geopolitical tensions in East Asia, fueling demand for military hardware worldwide.

US companies benefiting most from bloodshed 

The United States maintained its dominant position in the global arms market, with 41 companies featured in SIPRI's Top 100 arms manufacturers.

Together, these firms accounted for half of the total revenue, generating $317 billion in 2023—a 2.5% increase compared to 2022.

Of the US-based companies, 30 reported year-on-year revenue growth. The top five arms producers globally—Lockheed Martin, RTX, Northrop Grumman, Boeing, and General Dynamics—are all American, and their combined revenues made up 31% of the total arms sales from the Top 100. However, not all companies saw equal gains.

Read more: China sanctions 13 US defense firms over Taiwan arms deal

Related News

US Envoy calls Hamas ceasefire response 'totally unacceptable'

17 Palestinians killed in US-Israeli designated aid zones in Gaza

Northrop Grumman led the growth, with a 5.8% rise in arms revenues, reaching $35.6 billion. This was largely driven by heightened demand for ammunition for Ukraine and the US military's focus on upgrading missile defense systems and modernizing its nuclear arsenal.

Northrop Grumman's Space Systems division saw a particularly strong performance, recording a 9.2% revenue increase.

Lockheed Martin and RTX, despite their status as the largest arms producers, faced slight revenue declines in real terms due to ongoing supply chain disruptions, particularly in the production of solid-fuel rocket motors, a critical missile component.

Read more: US-UK strikes escalate Red Sea chaos, threaten supply chains

Staggering capabilities

The SIPRI report noted that US companies, while benefiting from high demand, faced logistical hurdles, including supply chain issues in sectors like aeronautics and missile defense.

These challenges impacted even industry leaders like Lockheed Martin and RTX. Nonetheless, the robust government focus on military modernization and strong international demand kept the US industry resilient.

Read more: US $138bln nuclear modernization plan fuels nuclear arms race concerns

With continued conflicts and geopolitical tensions, experts predict the upward trend in arms sales will persist.

Lorenzo Scarazzato, a SIPRI researcher, stated, "The rise in arms revenues in 2023 is likely to continue in 2024," citing ongoing recruitment drives and strategic investments by leading US manufacturers.

  • United States
  • Arms sale
  • Weapons
  • global arms sale
  • SIPRI

Most Read

US judges quietly consider private security amid Trump tensions

US judges quietly consider private security amid Trump pressures

  • US & Canada
  • 25 May 2025
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu arrive to a news conference in the East Room of the White House, Tuesday, Feb. 4, 2025, in Washington (AP)

Rift widens: Trump, Netanyahu clash in heated phone call over Iran

  • Politics
  • 26 May 2025
An Israeli army vehicle moves in the Gaza Strip as seen from southern occupied Palestine, Thursday, May 29, 2025 (AP)

Hamas rejects Witkoff ceasefire plan, says alters terms

  • Politics
  • 29 May 2025
Spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, announces a new operation against Ben Gurion Airport on May 29, 2025 (Yemeni Military Media)

Yemen announces successful hypersonic missile strike on Ben Gurion

  • Politics
  • 30 May 2025

Coverage

All
War on Gaza

Read Next

All
MIT bans class president who gave pro-Palestine speech
US & Canada

MIT bans class president over pro-Palestine speech

Arab ministers condemn Israel 'ban' on planned West Bank visit
Politics

Arab ministers condemn Israeli ban on planned West Bank visit

Major General Hu Gangfeng, Vice President, National Defense University, People's Liberation Army, China, leaves after a panel discussion during the 22nd Shangri-La Dialogue summit in Singapore, Saturday, May 31, 2025. (AP Photo/Anupam Nath)
Politics

China blasts Hegseth, calls US top 'troublemaker' in Asia-Pacific

US activists demand shutdown of Musk's 'dirty' supercomputer: Reports
Technology

US activists demand shutdown of Musk's 'dirty' supercomputer: NBC News

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS