The turmoil caused by wars like Russia-Ukraine, Gaza conflict, and numerous countries increasing military spending has led to a surge in demand for arms worldwide. A report by the Stockholm International Peace Research Institute reveals that earnings of the top 100 arms companies globally increased by 5.9% in 2024, reaching a total of $679 billion. Among these companies, American firms reaped the most benefits while Chinese companies experienced a decline in earnings.
Global Arms Manufacturers’ Earnings Rise to $679 Billion Amid Wars
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