United States and the Military Industrial Complex

The USA’s arms exports grew by 21 per cent between 2015–19 and 2020–24, and its share of global arms exports went from 35 per cent to 43 per cent,

The report was published by the Stockholm International Peace Research Institute (SIPRI) on Monday, December 1, 2025. It states that the world's 100 largest arms-producing companies saw a 5.9% increase in revenue from arms and military services in the previous year (2024), reaching a record $679 billion. 

Key Details from the Report

• Driving Factors: The increase in revenue was primarily driven by the high demand for weapons and military equipment due to the ongoing wars in Ukraine and Gaza, as well as general rising global military spending and geopolitical tensions.
• Regional Performance:
  • United States: U.S. companies accounted for the largest share of revenue at $334 billion (3.8% increase).
  • Thirty of the 39 U.S. companies in the top 100 — including Lockheed Martin, Northrop Grumman and General Dynamics — posted increases. 
    
  • ​Europe: The 26 European companies in the top 100 saw a combined 13% increase in revenue, totaling $151 billion, as countries worked to replenish stockpiles and expand their militaries.
  • Russia: The two Russian firms listed recorded a 23% rise in combined revenues.
  • Middle East: Nine companies from the Middle East were in the top 100, with the three Israeli companies increasing their revenue by 16%.
  • Asia and Oceania: This was the only region to see a slight decline in revenue, largely due to issues within the Chinese arms industry.

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