Tag: arms manufactuers

2023 Was a Profitable Year for Arms Manufacturers

Buck Banks

$632 billion

Major companies in the arms industry saw a 4.2% increase in overall revenue in 2023 with sharp rises for producers based in Russia and the Middle East, a new report said Monday, reported the Associated Press. The report by the Stockholm International Peace Research Institute, or SIPRI, said revenues from the top 100 arms companies totaled $632 billion last year in response to surging demand related to the wars in Ukraine and Gaza.