China and America.. Which one sells more weapons in 2024? | policy

A report published by the American magazine Newsweek compared the revenues of American arms companies with their Chinese counterparts in 2024, indicating a decline in Chinese revenues in the face of US dominance, despite Beijing strengthening its efforts in the military field.

The magazine confirmed – based on a report prepared by the Stockholm International Peace Research Institute – that American arms companies achieved revenues amounting to $334 billion in 2024, an increase of 3.8%, compared to only $88.3 billion for Chinese companies, which witnessed a decline of 10%.

The author of the report and Middle East correspondent, Amira Al-Feki, pointed out the decline in the ranking of several Chinese companies on the Stockholm Institute’s list of “the 100 largest arms companies generating revenues,” despite China’s persistent attempts to develop its military production.

The assessment comes amid the escalation of the intense military competition between Beijing and Washington, while a report published by US intelligence agencies last March confirmed that China is still considered the biggest military and electronic threat to the United States.

Chinese companies

The magazine pointed out that the revenues of the Chinese company Norinco – the largest producer of land systems – witnessed the largest decline, as they fell by 31% to 14 billion dollars, while the revenues of the Chinese Aerospace Science and Technology Corporation (CASC) fell by 16% to 10.2 billion, following the dismissal of leaders due to suspicions of corruption.

The report also stated that the Aviation Industry Corporation of China, the largest Chinese arms producer, lost 1.3% of its revenues, reaching $20.3 billion, due to the slow supply of aircraft.

On the other hand, the company advanced a degree in the list to reach eighth place, supported by its position as a producer of the J-20 stealth fighter, an aircraft that competes with the American F-22 fighter.

It is noteworthy that a previous report prepared by the Stockholm International Institute indicated that China’s average arms exports during the past five years increased by more than three times what it was between 2000 and 2004.

American companies

As for the United States, several American companies topped the Stockholm Institute’s list, including Lockheed Martin, Boeing, Northrop Grumman, Raytheon Technologies, and General Dynamics.

According to the report, Lockheed Martin achieved an increase of 3.2%, bringing its revenues to $64.7 billion, thanks to the delivery of 110 F-35 fighters. While Boeing’s revenues fell 4.6% to 30.6 billion due to the delay in production of the KC-46A aircraft.

The US State Department said at the beginning of this year that sales of US military equipment to foreign governments – last year – rose by 29% to a record level of $318.7 billion as a result of countries seeking to replenish stocks after sending weapons to Ukraine and preparing for major conflicts.