The Gaza and Ukraine wars, as well as global and regional geopolitical tensions and ever-higher military expenditures, increased revenues generated by the companies from sales of military goods and services to customers domestic and abroad by 5.9 percent compared to the year before, the organisation said in a report published on Monday. Lockheed Martin, Northrop Grumman and General Dynamics led the pack in the US, where the combined arms revenues of arms companies in the top 100 grew by 3.8 percent in 2024 to reach $334bn, with 30 out of the 39 US companies in the ranking increasing their revenues. The regional drop was due to a combined 10 percent decline in arms revenues among the eight Chinese arms companies in the ranking, most prominently the 31 percent fall in the arms revenues of NORINCO, China’s primary producer of land systems.
Author: Maziar Motamedi
Published at: 2025-11-30 23:59:56
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