Global arms revenues reached an all-time high of $679 billion in 2024, marking a 5.9% increase in real terms, according to the latest SIPRI Top 100 ranking. This global expansion occurred amidst notable regional divergences.
China's arms revenues experienced a 10% decline, a setback linked to reported corruption scandals and significant contract delays within its defense establishment. Conversely, India's three firms listed in the Top 100—Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL), and Mazagon Dock Shipbuilders—collectively generated $7.5 billion in arms revenue in 2024, up from $6.9 billion in 2023. BEL notably led this growth with a 24% revenue jump, reaching $2.47 billion.
Meanwhile, 39 American companies in the Top 100 accounted for $334 billion in arms revenues, a 3.8% increase, comprising just under half of global Top 100 sales. Furthermore, nine companies from an unspecified region appeared in the Top 100 for the first time, achieving combined arms revenues of $31.0 billion, an increase of 14% where comparable data were available.
Source: https://timesofindia.indiatimes.com/india/sipri-2024-arms-report-india-and-china-arms-race-xi-jinping-pla-purge/articleshow/125696987.cms
