Artillery shells of German arms manufacturer Rheinmetall in Unterluess, Germany, on Aug. 27, 2025. Markus Schreiber/AP Photo
The revenues of the world’s 100 largest military service providers and arms manufacturers increased by 5.9 percent in 2024, reaching a record $679 billion, according to a research institute’s report published on Dec. 1.
“Last year global arms revenues reached the highest level ever recorded by SIPRI as producers capitalized on high demand,” said Lorenzo Scarazzato, co-author of the report and researcher at the Stockholm International Peace Research Institute (SIPRI).
