Even with the war in Ukraine fueling demand, revenue for the world's top arms suppliers dipped in 2022, as production issues kept companies unable to increase production, researchers said Monday.
The sales of weapons and military services by the 100 largest arms companies in the world totaled $597 billion in 2022, a decrease of 3.5% compared to 2021, according to a new report by the Stockholm International Peace Research Institute (SIPRI).
At the same time, geopolitical tensions coupled with Russia's invasion of Ukraine fueled increased demand for weapons and military equipment.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.