Armaments makers are the only winners in Ukraine and other conflicts

NO PRIZES for guessing the winners of the Ukraine war and indeed other conflicts.

Armaments manufacturers of traditional military hardware, such as guns and tanks, and those who make expensive sophisticated guided missiles and drones are on a growth trajectory.

The Stockholm International Peace Research Institute (SIPRI) estimates that the 100 largest armaments manufacturers already had sales totalling US$592 billion in 2021, prior to Russia’s invasion of Ukraine. Out of that total, the top 10 arms producers – Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics in the US; BAE Systems in the UK; and AVIC, Norinco, CETC and CASC in China – accounted for a whopping US$294 billion.