This is the Highest Level in the History of the Defense Industry

The United States and the European Union's defense industrial complex (DIC) has received approximately $750 billion in weapon and ammunition production orders by the end of 2023 from eight major companies. According to calculations by experts and data from international research centers, reported by the leading Japanese economic newspaper Nikkei, this is the highest level in the history of the sector.

In response to this record surge in orders, the eight largest companies in the U.S. and EU defense industry will invest $10.5 billion in production expansion in 2024. This is also noted to be the highest level in history, Nikkei reports. The volume of these investments exceeds the 2019 levels by more than 30% and is 8% higher than the figures for 2023.

It is noteworthy that the newspaper links the growth in arms production to the military supplies being sent to Ukraine by Western countries, as well as the tense situation in the Middle East.