American defence companies claimed 50% of global arms sales in 2023, totalling $317bn, as conflicts like the Russia-Ukraine war and Israel-Hamas tensions drove demand.
The Sipri Top 100 defence companies recorded $632bn in revenues, a 4.2% increase from 2022.
The US Department of Defence set new records for military sales, particularly to European allies. Leading the charge were firms like Lockheed Martin, RTX, Northrop Grumman, Boeing and General Dynamics.
What does this dominance mean for global security, and how are ongoing conflicts shaping the future of the arms industry?
Produced by: Firstpost
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