The top five Japanese defense firms tallied sales of $10 billion in 2023, up 35 percent from the year before, according to an international security think tank, as the country continues its defense buildup amid Chinese and North Korean threats.
Globally, the combined arms revenues of the world’s 100 largest arms-producing and military services companies rose 4.2 percent to $632 billion, the Stockholm International Peace Research Institute said in an annual report, citing increased demand for weapons worldwide.
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