The Stockholm International Peace Research Institute (SIPRI) reported a 4.2% increase in arms sales by the world’s 100 largest defense companies in 2023, totaling $632 billion, fueled by wars and regional tensions. U.S. companies, led by Lockheed Martin and RTX, contributed $317 billion, reflecting a 2.5% rise despite a slight decline in Lockheed Martin’s sales. European firms maintained stable sales at $133 billion but saw a surge in orders driven by the Ukraine conflict. SIPRI researcher Lorenzo Scarazzato highlighted that current arms revenues still fall short of reflecting the full demand, suggesting room for future growth. The report underscores growing global defense spending amid heightened security challenges.
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