Global arms sales rose to record $679 billion in 2024: Report
The combined arms revenues of the world's top 100 arms-producing and military services companies reached a record $679 billion in 2024, SIPRI reported. The number represents a 26% increase from 2015 and a nearly 6% increase from the prior year. This rise is mainly linked to the ongoing battles in Ukraine and Gaza, while Europe has mostly driven the demand.