It's no small slice of the global pie: in 2024, the world's top 100 arms producers recorded $679B in total revenue, and US firms took home nearly half—$334B! 😮💰 That's according to a fresh report from the Stockholm International Peace Research Institute (SIPRI).
Among the 39 US companies on the list, collective revenue jumped 3.8% year on year. 🚀 Even SpaceX made its debut in the Top 100, doubling its arms sales from last year to $1.8B. Yep, the rocket-makers are also suiting up for defense deals!
Why the surge? Ongoing conflicts like the Russia-Ukraine and Israel-Palestine clashes, plus rising tensions around the globe, have pushed many governments to boost military budgets. The result: arms revenue hit an all-time high in 2024. 🌍⚔️
For tech-savvy youths juggling budgets and trends, these figures highlight how money can flow fast when geopolitics heats up. SIPRI, founded in 1966, has been tracking these shifts to shed light on global arms control and disarmament.
With tensions still simmering, it'll be worth watching if 2025 sets a new high or if spending plateaus. Stay tuned for more insights! 🔍
Reference(s):
U.S. firms account for nearly half of global arms revenue in 2024
cgtn.com
