Global sales of arms and military services by the 100 largest defense contractors increased in 2010 to $411.1 billion, according to the Stockholm International Peace Research Institute. The increase reflects a decade-long trend of growing military spending. Since 2002, total arms sales among the 100 largest arms manufacturers have increased 60%.
The institute recently published its annual report on the leading arms producing companies in the world — SIPRI Top 100. The report identifies the largest companies in the sector and provides each company’s arms sales as a percentage of its total sales.
Based on the report, 24/7 Wall St. identified the 10 companies with the highest revenue from arms sales. These companies alone account for $230 billion — over half of all arms sales that year.
While many industries continued to suffer in 2010 as a result of the financial crisis, leaders in the arms and military services were largely unaffected. According to SIPRI arms industry expert Dr. Susan Jackson, when sales dropped, it was not because of the financial crisis. Instead, Dr. Jackson notes that loss in sales was due to “the withdrawal of foreign troops from Iraq and the subsequent expected decrease in related equipment sales.”