The world is arming itself

According to data from the Stockholm International Peace Research Institute, worldwide conflicts have driven a surge in global military spending. It increased by 9% to a record $2.7 trillion in 2024, the steepest annual rise since at least 1992.

This global spending spree has meant record revenues for the defense industry: the world's top 100 defense companies earned a record $679 billion in 2024, the highest level ever recorded since SIPRI began tracking in 2002. 

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