Regional Defense Capacity Grows Amid Conflict Demand
The Stockholm International Peace Research Institute has reported a record number of Middle Eastern firms in its annual list of Top 100 arms producers or military service providers. Nine regional companies, including five from Turkey, three from Israel, and one from the United Arab Emirates, generated approximately $31 billion in revenue for 2024. The top-ranked firm, Israel’s Elbit Systems, pulled in $6.3 billion in arms sales, up from $5.5 billion the year before. This growth is attributed to ongoing military operations and high global demand for advanced military equipment. The report was published by the Stockholm International Peace Research Institute and reported by Breaking Defense.