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The top 100 global companies in the arms goods and services industry actually saw their revenues decrease last year as conflicts and weapons demand soared. How come?
According to the AP news agency, citing the Stockholm Peace Research Institute (SIPRI), Western arms companies could not cope with the volume of orders
An independent watchdog says many Western arms companies failed to ramp up production in 2022 despite a strong increase in demand for weapons and military equipment. Labor shortages, soaring costs and supply chain disruptions were exacerbated by Russia’s invasion of Ukraine, according to the Stockholm International Peace Research Institute, or SIPRI. It said the arms revenue of the world’s 100 largest arms-producing and military services companies last year was $597 billion — a 3.5% drop from 2021.
Top 100 arms companies with $597 billion in sales. 51 percent of which were U.S. companies. Sales figure during 2022 was 3.5% lower than in 2021. Decline was mainly due to lower arms revenues among major companies in the United States. Revenues increased significantly in Asia, Oceania and the Middle East, report says.. pending orders and an increase in new contracts suggest that global arms revenues could rise significantly in the next few years, SIPRI says.
An independent watchdog says many Western arms companies failed to ramp up production in 2022 despite a strong increase in demand for weapons and military equipment. Labor shortages, soaring costs