US Firms recorded 51% share in global arms revenues in 2022
Defence
Forty-two American companies accounted for 51% of the total arms revenue of the top 100 firms in 2022 despite a 3.5% fall in revenues from sales of arms and military services compared to 2021. According to the latest Stockholm International Peace Research Institute (SIPRI) report, the 100 largest companies in the industry earned revenues totalling $597 billion in 2022 due to production challenges and backlog and falling arms revenues among major companies in the United States. Among top 100 companies, the arms revenues of 42 American companies fell by 7.9% to $302 billion in 2022 with 32 recording a fall in year-on-year revenue due to supply chain issues and labour shortage caused by the pandemic.
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