SIPRI: Weapons trade booming worldwide, especially in Russia – DW – 12/02/2024
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SIPRI's report highlights a booming global weapons trade, with earnings reaching $632 billion. Russia and the Middle East emerged as key players in 2023 growth.

Summary

Global arms trade surged to $632 billion in 2023, driven by wars in Ukraine and Gaza, and rising tensions in East Asia, according to Stockholm International Peace Research Institute (SIPRI).

Russian arms revenue grew 40% amid increased weapons production, while Ukraine’s sole defense company saw a 69% rise.

German manufacturers, led by Rheinmetall, grew 7.5%, but Europe’s overall sector stagnated.

Asian countries like Japan and South Korea expanded significantly, responding to regional tensions.

Israeli arms makers hit record revenues, while U.S. giants faced supply chain challenges despite strong demand.