Sales of arms by the industry's 100 largest companies totalled $531 billion in 2020 — an increase of 1.3 percent in real terms compared with the previous year, a new report says.
US, China, India, Russia and the UK were the top five spenders, contributing 62% of total global military expenditure, according to Stockholm International Peace Research Institute.
A study by the Stockholm International Peace Research Institute showed that the world's nations spent a combined $1.9 trillion on their militaries in 2019.
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