The world is arming itself and arms manufacturers in almost all countries reap big profits. New data from the Stockholm Peace Research Institute SIPRI show that the turnover of the world's hundred largest arms manufacturers increased by almost 6% last year.
A record that has never been reached before
The German public media ARD quotes SIPRI researcher Lorenzo Scarazzato as stating that in 2024 arms turnover reached $679 billion - a record that has never been recorded before.
The main driver for this development is geopolitical tensions such as the war in Ukraine and the war in Gaza. According to Scarazzato, countries are currently relying less on diplomacy and more on military power. What are the facts? Almost all 26 European arms companies on the SIPRI list reported growth in turnover, with European companies in total recording an increase of 13 percent.
Germany invests significantly more in armaments
The German arms concerns “Rheinmetall“, “ThyssenKrupp“, “Hensoldt“ and “Diehl Defence“ have increased their sales by as much as 36 percent. The four largest arms concerns in Germany are benefiting greatly from the current rapid armament programs in Europe, Scarazzato told ARD. The publication recalls the fact that Germany is among the countries that have decided to invest significantly more funds for military purposes - both for arming its own army and for Ukraine. The same applies to other European countries that buy weapons from German concerns.
Globally, Germany still plays a modest role in terms of armaments, the SIPRI expert points out. “Rheinmetall“, which also signed a cooperation agreement with Bulgaria, is the only German company that climbed into the top 20 of the SIPRI list. The first place in arms sales there remains the American concern “Lockheed Martin“ (Lockheed Martin). The Russian state company “Rostec“ ranks seventh.
Russian companies have increased their turnover by another 23%
„In 2024, the turnover of arms companies in Russia increased by another 23 percent“, says Scarazzato. Due to the lack of transparency in this case, one must rely on approximate estimates. „However, it is clear that the Russian arms industry continues to produce large quantities of weapons, mainly to cover its own needs“.
Due to the ongoing wars, there is no prospect of arms production decreasing in the foreseeable future. „My forecast is that arms sales will continue to grow in the coming years. I hope I am wrong“, the SIPRI expert tells ARD.
Author: Jana Sinram ARD