Global Arms Sales Surge Amid Rising Conflicts and Tensions
TL;DR Summary
A report by the Stockholm International Peace Research Institute (SIPRI) reveals that global arms sales reached $632 billion in 2023, a 4.2% increase driven by conflicts in Ukraine and Gaza, and rising tensions in Asia. Russian and Middle Eastern manufacturers saw significant sales boosts, while U.S. companies maintained a dominant market share despite supply chain challenges. European and Asian arms producers also experienced growth, with notable increases in South Korea and Japan. The report suggests continued demand for arms in 2024.
- Wars, Regional Tensions Boost Arms Sales: Report Barron's
- Russia races ahead of NATO in weapons production for Ukraine war: SIPRI Al Jazeera English
- SIPRI: Weapons trade booming worldwide, especially in Russia DW (English)
- Global arms trade soars in 2023 amid deadly conflicts The Hill
- Have European arms companies increased their profits due to wars? Euronews
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