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The military-industrial complex (MIC), located in different parts of the world, functions as a sophisticated business strategic network where corporate profit and national security strategy are closely interlinked, a reality documented by the Stockholm International Peace Research Institute (SIPRI) from time to time. In the United States, the ‘Big Five’ – Lockheed Martin, RTX (Raytheon), Boeing, Northrop Grumman, and General Dynamics – control almost half of the global market, acting as the primary architects of modern aerial and missile warfare.

These firms drive a ‘battle lab’ economy where active conflicts, such as in Ukraine and West Asia, serve as real-world testing grounds for high-tech systems like the HIMARS and Patriot missiles. SIPRI’s recent data confirms that while these American giants face supply chain bottlenecks, their order backlogs have reached historic levels, reinforcing a cycle of economic dependency where military spending remains a non-negotiable pillar of the domestic economy, often at the expense of social sector budgeting.

Beyond the US, the record turns toward rapid regional rearmament and strategic patronage. Europe is now acknowledged as the fastest-growing arms hub, with companies like Germany’s Rheinmetall and France’s Dassault shifting to a ‘war economy’ trying to replenish continental stockpiles, while the Czechoslovak Group has registered unprecedented revenue growth by supplying heavy artillery. Meanwhile, Russia’s state-owned conglomerates, such as Rostec, have turned inward to sustain a closed-loop production cycle amidst international isolation.

Also read: Why is India Ducking the Iran War Issue?

In Asia, China utilises its massive state firms like AVIC and NORINCO as diplomatic levers, dominating the defense imports of countries like Pakistan to secure regional influence. According to SIPRI, this global trade is increasingly defined by a ‘technological arms race,’ where traditional manufacturers are aggressively acquiring AI and cyber-security startups, ensuring that the future of conflict is as much about algorithmic dominance as it is about kinetic force.

Amid all reports of war, the latest findings of SIPRI present a world that is continuously moving into a new phase of militarisation. Military expenditure and arms transfers have risen again, even as the global economy struggles with inflation, debt, and uneven recovery.

Global revenues from arms sales and military services by the world’s top 100 defence companies increased by 5.9% in 2024, reaching a record $679 billion, according to SIPRI. The increase in arms flows reveals a major turn in global priorities. Security concerns are taking centre stage, often at the........

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