In 2023, global arms sales saw a significant increase after a downturn in 2022, attributed to geopolitical tensions and conflicts, particularly in Ukraine and Gaza. The Stockholm International Peace Research Institute reported that sales by the top 100 arms manufacturers reached $632 billion, a 4.2% rise. American firms led the market, accounting for half of the total sales, while Russian producers notably increased their revenues by 40% amidst a war-focused economy. The upward trend in arms sales is anticipated to continue into 2024.