Global arms manufacturers failed to significantly increase production volumes in 2022 despite a very large increase in global demand for arms, according to a study by the Stockholm International Peace Research Institute (SIPRI).
“The income of the world’s 100 largest companies from the sale of weapons and military services, despite a sharp increase in demand, amounted to 597 billion dollars in 2022, which is 3.5 percent less than in 2021, taking into account price fluctuations,” the report states.
According to SIPRI’s research, American and European military industrial companies have not managed to increase production volumes due to labor shortage, inflation, supply interruptions, the problems are caused by the situation in Ukraine.
“Many companies have struggled to keep up with the high-intensity combat operations, but new contracts, particularly for ammunition production, have been signed, suggesting an increase in revenue in the period ahead,” the report said.
According to the presented data, in 2022, 42 American companies had a 7.9 percent, 302 billion dollars less income, while European companies had an increase in income. we are talking about arms manufacturers operating in Germany, Norway and Poland.
22 companies in the Asia-Pacific region received 3.1% more revenue ($134 billion). SIPRI considers the fact that for the second year in a row the total income of companies in this region exceeds the income of those operating in Europe.
“In 2022, the largest increase in income by region, in percentage ratio, was recorded in the Middle East, mainly at the expense of Turkey,” the report states.
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