Many Western arms companies failed to ramp up production in 2022 despite a strong increase in demand for weapons and military equipment, a watchdog group said Monday, adding that labor shortages, soaring costs and supply chain disruptions had been exacerbated by Russia’s invasion of Ukraine.
In its Top 100 of such firms, the Stockholm International Peace Research Institute, or SIPRI, said the arms revenue of the world’s largest arms-producing and military services companies last year stood at $597 billion — a 3.5% drop from 2021.
