Revenues from sales of weapons and military services by the 100 largest global arms-producing companies reached a record $679bn in 2024, according to new data released by the Stockholm International Peace Research Institute (SIPRI).

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.

The bulk of the global rise was attributed to companies based in Europe and the United States, but there were year-on-year increases in all regions except for Asia and Oceania, where issues within the Chinese arms industry dro

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