Sales at major arms makers are set to surge in 2023 due to conflicts in Ukraine and Gaza as well as tensions in Asia, with increases seen at manufacturers based in Russia and the Middle East.
According to a report by the Stockholm International Peace Research Institute (SIPRI), the world's 100 largest arms companies' sales of weapons and military services will total $632 billion in 2023, an increase of 4.2%.
Global arms sales to surge by 2023. (Photo: Getty)
Meanwhile, 2022 sales are expected to decline as many global arms makers struggle to meet surging demand. In a sign of this surge in demand, all 100 companies tracked posted sales exceeding $1 billion for the first time last year.
“ Arms sales increased significantly in 2023 and are expected to continue to increase in 2024,” said Lorenzo Scarazzato, a researcher at SIPRI’s Military Expenditure and Arms Production Division.
Sales from the world's top 100 arms companies have yet to fully reflect the scale of demand, and many have launched recruitment campaigns, suggesting they are optimistic about future sales.
SIPRI said smaller producers were effective in meeting demand related to conflicts in Gaza and Ukraine, rising tensions in East Asia and rearmament programs elsewhere.
“ Many of them specialize in a particular component or build systems that require supply chains that allow them to react more quickly,” said Nan Tian, director of SIPRI’s Arms Production and Military Expenditure Programme.
Among the top manufacturers, US companies recorded a 2.5% increase in sales last year and accounted for half of the world's arms revenue, with 41 US arms manufacturers in the world's top 100.
In contrast, Lockheed Martin and RTX (formerly Raytheon Technologies), the world's two largest arms makers, reported revenue declines of 1.6% and 1.3%, respectively.
Source: https://vtcnews.vn/doanh-so-ban-vu-khi-toan-cau-tang-dot-bien-632-ty-usd-nam-2023-ar910919.html
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