The combined arms revenues of the world’s largest arms-producing and military services companies (the SIPRI Top 100) increased by 5.9 per cent in 2024 to reach $679 billion, the highest level ever recorded by SIPRI. The total arms revenues of the Top 100 went up by 26 per cent over the decade 2015–24.

The rise in the total arms revenues of the Top 100 in 2024 was mostly due to overall increases in the arms revenues of companies based in Europe and the United States. There were year-on-year increases in all the geographical areas covered by the ranking apart from Asia and Oceania, which saw a slight decrease, largely as a result of a notable drop in the total arms revenues of Chinese companies.