The rising revenues of international defense companies

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China's Defense Sector Struggles With Corruption Allegations

In the course of Europe's rearmament efforts, Sipri experts are warning of increasing challenges in sourcing the materials needed for arms production, many of which must be imported from China. The dependence on critical minerals, in particular, is likely to complicate European rearmament plans. However, according to the peace researchers, China's arms industry is grappling with entirely different issues: a series of corruption allegations in Chinese arms procurement led to major defense contracts being postponed or canceled in 2024. As a result, Chinese arms sales dropped by ten percent. This caused overall sales in the Asia and Oceania region to decline by 1.2 percent to $130 billion, despite significant gains in Japan and South Korea. Thus, this was the only region worldwide to record declining figures.

The Defense Activities in War Zones

Russia's war of aggression against Ukraine has, of course, also impacted the figures of defense companies in both countries. According to Sipri, the Ukrainian company JSC Ukrainian Defense Industry increased its revenues by 41 percent to $3 billion. The two Russian companies Rostec and United Shipbuilding Corporation together achieved a 23 percent increase to $31.2 billion, despite international sanctions causing shortages of some defense components. Additionally, Russia's own military demand more than compensated for losses from declining arms exports, according to Sipri. Regarding the war in Gaza, Israel's military actions contributed both to increased revenues for the three listed Israeli companies, which collectively recorded a 16 percent rise to $16.2 billion, and to sustained global interest in advanced Israeli military equipment. Despite ongoing criticism of Israel's actions in Gaza, several states reportedly placed new orders with Israeli companies last year.

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Date: 08.12.2025

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