Revenue Of Weapons Manufacturers Continues To Rise
US weapon manufacturers and military contractors registered an unprecedented increase in sales of arms and military services in 2024, according to a US State Department fact sheet. This made 2024 one of the most profitable years ever, in large part thanks to wars in Ukraine and Gaza as well as the military build up around China.
According to the figures released by the US State Department, the total revenue from arms sales in 2024 reached a record USD 318.7 billion registering a 29% increase from the previous year. The top US military contractors include Lockheed Martin, Raytheon (RTX), and General Dynamics, among others.