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Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
The more companies and countries become dependent on the profits of war, the harder it will be to shift funding towards other urgent priorities.
Revenues at the world’s top 100 global arms and military services producing companies totaled $632 billion in 2023, a 4.2% increase over the prior year, according to new data released by the Stockholm International Peace Research Institute (SIPRI).
The largest increases were tied to ongoing conflicts, including a 40% increase in revenues for Russian companies involved in supplying Moscow’s war on Ukraine and record sales for Israeli firms producing weapons used in that nation’s brutal war on Gaza. Revenues for Turkey’s top arms producing companies also rose sharply — by 24% — on the strength of increased domestic defense spending plus exports tied to the war in Ukraine.
The United States remains the world’s dominant arms producing nation, with $318 billion in revenues flowing to American firms in the world’s top 100 for 2023, more than half of the global total. And the five highest revenue earners globally were all based in the United States — Lockheed Martin, Raytheon (now RTX), Northrop Grumman, Boeing, and General Dynamics.
The United States remains the world’s dominant arms producing nation, with $318 billion in revenues flowing to American firms in the world’s top 100 for 2023, more than half of the global total.
China ranked second to the United States in arms industry revenues, with nine firms accounting for 16% of the revenue received by companies in the global top 100. Two of the fastest growing countries in terms of revenue growth for top companies were also in Asia, South Korea (plus 39%) and Japan (plus 35%). South Korea’s increase was tied to major export deals with Poland and Australia, while Japan’s was driven by its largest military buildup since World War II.
SIPRI’s analysis takes a “just the facts” approach, tracking sales numbers and correlating them with increases in domestic and export spending tied to specific events. It does not address the dire humanitarian circumstances that underlie the growing revenues of top arms companies, most notably Israel’s unconscionable attacks on Gaza, which have killed over 44,000 people directly and many more through indirect causes, including over 62,000 who have died from starvation. The companies and countries fueling this mass slaughter — including U.S. firms that have supplied a substantial share of the bombs, missiles, and aircraft used in Gaza — should be held to account for their actions, even as they halt the supply of weapons and services that the Israeli government is using to commit ongoing war crimes.
Another major impact of the revenue surge for top arms makers is the diversion of funding and talent from addressing urgent global problems, from climate change to poverty to outbreaks of disease. And the more companies and countries become dependent on the profits of war, the harder it will be to shift funding towards other urgent priorities. The continuing militarization of the global economy has a double cost — lives lost in conflict and devastating problems left unsolved. The situation needs to be treated as far more than a grim parade of statistics about who benefits from a world at war. It should be treated as an urgent call to action for a change in global priorities.
"Someone tell Trump that Israel already unleashed hell on Gaza, and hostages were not released."
In an early signal of U.S. President-elect Donald Trump's foreign policy plans for when he returns to office next month, the Republican said Monday "there will be ALL HELL TO PAY in the Middle East" if Hamas does not release hostages taken from Israel, the occupying military force in both the West Bank and Gaza Strip.
Trump demanded hostages seized during the October 7 attack of last year be released or his promised retribution would follow. Nearly 45,000 Palestinians have already been killed—mostly civilian men, women, and children—since Israel launched a full-scale invasion of Gaza in the wake of the Hamas-led operation.
Of the 251 people taken captive last year, 63 are believed to be still alive in Gaza, according toThe Washington Post's tracker, which was updated last week. So far, 117 others have been freed or rescued and 71 have been confirmed killed.
After dining with Sara Netanyahu, the wife of Israel's prime minister, at the Trump International Golf Club in Florida Sunday night, the U.S. president-elect made his threat about the hostages on his Truth Social platform Monday afternoon.
"Everybody is talking about the hostages who are being held so violently, inhumanely, and against the will of the entire World, in the Middle East," Trump wrote. "But it's all talk, and no action! Please let this TRUTH serve to represent that if the hostages are not released prior to January 20, 2025, the date that I proudly assume Office as President of the United States, there will be ALL HELL TO PAY in the Middle East, and for those in charge who perpetrated these atrocities against Humanity."
"Those responsible will be hit harder than anybody has been hit in the long and storied History of the United States of America," Trump added. "RELEASE THE HOSTAGES NOW!"
Stephen Pollard, editor-at-large The Jewish Chronicle, responded that "this is the message the president of the USA should have sent on October 8, 2023."
Noting Pollard's comments, Rohan Talbot, director of advocacy and campaigns at the U.K.-based Medical Aid for Palestinians, said: "Genuinely interested to know what Stephen thinks the U.S. could have supported Israel to do in Gaza beyond what it currently has. Nukes?"
"This statement is unhinged—'there will be ALL HELL TO PAY in the Middle East,'" Talbot added.
Andreas Krieg, a senior lecturer in the School of Security Studies at King's College London, said, "Someone tell Trump that Israel already unleashed hell on Gaza, and hostages were not released."
Drop Site Newshighlighted that "Trump's statement—which follows a video released over the weekend by Hamas' armed wing featuring U.S.-Israeli captive Edan Alexander and explicitly addressing Trump—does not acknowledge that Netanyahu has repeatedly sabotaged cease-fire deals that could have freed Israeli hostages. It also appears timed to position himself to claim credit for any progress in cease-fire talks, as negotiations between Hamas and Egyptian mediators are already underway."
As the American Jewish outlet Forwardreported Monday:
The White House is attempting a final push to get... a deal done. President Joe Biden said last week that the cease-fire between Israel and Hezbollah in Lebanon had created an opportunity to reignite stalled negotiations for a similar deal in Gaza. "We will use every day we have in office to try to generate as much progress towards that end as possible," Jake Sullivan, Biden's national security adviser, said Sunday morning on ABC's "This Week."
Given the failed efforts in the past, the families of the American hostages are hoping Trump could leverage his popularity in Israel and his relationship with Israeli Prime Minister Benjamin Netanyahu to take immediate action during the transition period. "Trump must not wait until he is inaugurated to help reach a deal that secures the freedom for Edan, six other Americans, and the rest of the hostages," Adi and Yael Alexander, the parents of Edan, said on Saturday.
Despite an abundance of evidence showing how Israel is using U.S. weapons to slaughter civilians in Gaza and severely restricting the flow of humanitarian aid while claiming to target Hamas, Biden and Congress have refused to cut off arms to Netanyahu's government. In fact, just hours after the cease-fire between the Israeli government and Hezbollah took effect—a deal that Israel has since violated approximately 100 times—the Financial Times reported last week that "Biden has provisionally approved a $680 million weapons sale to Israel."
"All of you here are beacons of hope in this darkness," said one demonstrator in a speech to the massive crowd.
Tens of thousands marched through central London on Saturday demanding an immediate end to Israel's "genocidal" campaign in Gaza that has continued for nearly 14 months, forcing the civilian population in the besieged enclave into what humanitarians have called an "apocalyptic" hellscape.
Led by a coalition of humanitarian and anti-war groups, including Stop the War and the Palestine Solidarity Campaign, organizers said the weekend demonstration was just the latest expression of collective outrage over the Israeli assault on Gaza made possible by the international backing of powerful allies like the United States and the United Kingdom.
"It's vital we continue to take to the streets in huge numbers to demand an end to British complicity in Israel'a genocide and apartheid, including through an end to all arms trade with Israel," said the Palestine Solidarity campaign ahead of the march.
Stop the War coalition rebuked BBC's reporting for downplaying the size of the march, saying: "For the record, it was at least 125,000!" Various news outlets put the size of the march in the tens of thousands.
Tens of thousands are already out on the streets of London for the 22nd National Demonstration for a Free Palestine and for an end to the genocide!
Free Palestine 🇵🇸 pic.twitter.com/w62yXwi7G3
— Palestine Solidarity Campaign (@PSCupdates) November 30, 2024
In his remarks to the demonstrators, actor and human rights activist Khalid Abdalla heralded those who attended.
"All of you here are beacons of hope in this darkness," said Abdalla. "Here you stand embodied, with the fullness of your voice, in a world that demands we are always in motion, numb to the reality that enters our lives through our phones, and the images that come to us day after day of this genocide in Gaza."
Marchers carried banners and chanted in unison as they made their way through central London, passing by counter-protesters near Piccadilly Circus and then making stops at 10 Downing Street, home of Prime Minister Keir Starmer, before concluding their demonstration in Parliament Square.
"The demonstrators voiced an uncompromising call to the UK government to end its support for Israel’s brutal occupation and its violations of international law," reported the Middle East Monitor. "Protestors demanded that the U.K. cut all diplomatic, military, and economic ties with Israel and impose an arms embargo. The march was a call for the U.K. to uphold its moral and legal obligations, including complying with the ICC arrest warrants and ensuring that Israeli war criminals face justice."
LONDON, ENGLAND - NOVEMBER 30: The march approaches Piccadilly from Hyde Park during a national demonstration for Palestine in Central London on November 30 on November 30, 2024 in London, England. The Palestine Solidarity Campaign has once again convened a national demonstration for Palestine, asking the UK government to stop arming Israel. (Photo by Guy Smallman/Getty Image)
Former Labour leader Jeremy Corbyn spoke at the rally and assailed Starmer's current government for complicity in the Israel military campaign that claimed the lives of over 45,000 Palestinians, mostly civilian men, women, and children.
"I say to our government: if you knowingly supply weapons to a government led by someone wanted for war crimes, the long arm of international law will extend to you too," Corbyn declared.
In a plea to the world from Gaza on Saturday, poet and writer Nour Elassy said she and her family are currently starving as she expressed disbelief over the international community's failure to put a stop to Israeli atrocities.
"It is difficult for me to explain and capture the feeling of hunger for someone who does not understand the depths of its pain, and it is even more challenging to explain this experience while being under constant bombardment and shelling from Israel for more than 400 days now," Elassy wrote in a column for Al-Jazeera.
With her nieces and nephews, all under age six, also crying out in hunger, Elassy says this makes everything more difficult. "Hunger has affected everyone I see," she reports. "People are visibly thinner, they walk around with an empty look in their eyes, dark circles underneath. The streets are filled with children and elderly people begging for food. I see misery and hunger everywhere I turn."
"While Israel may hope that we starve in silence, we will not," she concluded. "The world can and must stop the starvation of Gaza."