Whether it is the Russia-Ukraine war, Israel-Hamas-Hezbollah war, the Syrian civil war or the tense situation in the Indo-Pacific region, the entire world may be living in fear, but the fortunes of the defense company have changed.
The defense company has made tremendous profits and made a record sale of weapons worth a total of $632 million in 2023.
Defense companies from the US, China and India account for 50% of total sales. NATO has increased defense spending in the wake of the war.
The Stockholm International Peace Research Institute has released details about the world’s top 100 arms manufacturers.
According to the figures given in it, the revenue of global arms companies increased by 4.2% year-on-year to $632 billion in 2023.
This increase is particularly significant amid the Russian April war and other conflicts, as well as the growing Indo-Pacific sector.
Considering that the war is still going on, it would not be surprising if sales even in 2014 exceeded the current figures.
The report highlights the defense spending of the leading countries, the United States, China and India. Of the top 100 companies, 41 of them contributed $317 billion, which is 50 percent of the global revenue of defense companies.
Whether it is to be cut or whether allies have increased military spending by 2022, American manufacturers have benefited significantly. American companies such as Lockheed Martin R&D and Northrop Grumman supply sophisticated weapons such as missiles, drones and air defense systems.
China is the second largest contributor to global, with nine of the world’s top 100 companies and a revenue of $103 billion. Talking about India, India’s Defense equipment revenue has reached $6.7 billion, a growth of 5.8% over the previous year.
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