The world is arming itself

Our graphics team shows how defense contractors are reaping the benefits.

Get full access to Reuters.com for just $1/week. Subscribe now. One Essential Read One Essential Read Recommended by Kate Turton, Newsletter Editor Business is booming for defense contractors   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.  Read the full article Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website Reuters One Essential Read is sent three days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. This email includes limited tracking for Reuters to understand whether you've engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement. Terms & Conditions © 2025 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036