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Report says world's biggest arms producers increased revenue by 5.9% last year to record level

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"We're on a pathway [to a third world war]."

"World War III is on its way."

"Another world war is likely to occur within the next 5-10 years."

"We're gonna have World War III."

"We are sleepwalking our way into World War III with one foolish decision after the other."

The Russia-Ukraine conflict "could lead to World War III, very easily."

Will There Be World War III?

Sales by the world's top 100 arms makers reached a record $679 billion in 2024, representing a 5.9 percent increase from the previous year, according to a report by the Stockholm International Peace Research Institute released Monday.

Sales by the world's top 100 arms makers reached a record $679 billion in 2024, representing a 5.9 percent increase from the previous year, according to a report by the Stockholm International Peace Research Institute released Monday.

The United States is home to 39 of the world's top 100 arms manufacturers, including Lockheed Martin, RTX and Northrop Grumman, with combined revenues rising 3.8 percent to $334 billion in 2024, nearly half of the global total.

The United States is home to 39 of the world's top 100 arms manufacturers, including Lockheed Martin, RTX and Northrop Grumman, with combined revenues rising 3.8 percent to $334 billion in 2024, nearly half of the global total.

European arms companies saw aggregate revenues grow by 13 percent to $151 billion, with Czech company Czechoslovak Group recording the sharpest increase of 193 percent to reach $3.6 billion, benefiting from the Czech Ammunition Initiative for Ukraine.

European arms companies saw aggregate revenues grow by 13 percent to $151 billion, with Czech company Czechoslovak Group recording the sharpest increase of 193 percent to reach $3.6 billion, benefiting from the Czech Ammunition Initiative for Ukraine.

The Asia and Oceania region was the only area to see revenues decline, dropping 1.2 percent to $130 billion, driven by a 10 percent fall among Chinese arms companies amid corruption allegations that led to postponed or cancelled contracts in 2024.

The Asia and Oceania region was the only area to see revenues decline, dropping 1.2 percent to $130 billion, driven by a 10 percent fall among Chinese arms companies amid corruption allegations that led to postponed or cancelled contracts in 2024.

Two Russian arms makers, Rostec and United Shipbuilding Corporation, increased combined revenues by 23 percent to $31.2 billion despite international sanctions, as domestic demand more than compensated for falling exports and component shortages.

Two Russian arms makers, Rostec and United Shipbuilding Corporation, increased combined revenues by 23 percent to $31.2 billion despite international sanctions, as domestic demand more than compensated for falling exports and component shortages.

Three Israeli arms companies in the ranking increased combined revenues by 16 percent to $16.2 billion in 2024, with researchers noting that backlash over actions in Gaza appeared to have little impact on international interest in Israeli weapons systems.

France 24

Three Israeli arms companies in the ranking increased combined revenues by 16 percent to $16.2 billion in 2024, with researchers noting that backlash over actions in Gaza appeared to have little impact on international interest in Israeli weapons systems.

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Global Arms Sales Hit Record $679B in 2024, Up 5.9%

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Global Arms Sales Hit Record $679B in 2024, Up 5.9%

Global Arms Sales Hit Record $679B in 2024, Up 5.9%

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Global Arms Sales Hit Record $679B in 2024, Up 5.9%

Global Arms Sales Hit Record $679B in 2024, Up 5.9%

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