Turkey defense firms break record with $10B in revenues: SIPRI
Turkey set a new record with five companies in the Stockholm International Peace Research Institute's Top 100 for 2024, which included nine Middle Eastern countries for the first time amid conflict-driven arms demand.
ANKARA — Turkey marked its strongest performance yet on the Stockholm International Peace Research Institute's Top 100 arms-producing list for 2024 with a record five defense companies whose total revenues exceeded $10 billion.
What happened: The leading Stockholm-based arms watchdog, which tracks global arms production and military-services revenue, released its 2024 ranking of the world’s 100 largest defense companies on Dec. 1.
In the Middle East, heightened geopolitical tensions including the wars between Israel and Hamas as well as Iran and other regional conflicts fueled demand for military equipment.
In total, nine Middle Eastern companies made SIPRI’s Top 100 in 2024, the most ever, helping the region rack up a record combined $31 billion in arms revenues.
