Stockholm International Peace Research Institute

Türkiye was among the world's top military spenders in 2023, according to a new report by the Stockholm International Peace Research Institute (SIPRI).

The country's military spending amounted to $15.8 billion last year, ranking 22nd in the world, climbing one spot from 2022.

Bulgaria has experienced a staggering increase in arms imports, rising by 920% between 2019 and 2023 compared to the period of 2014 to 2018. This significant surge in arms procurement was revealed in a report by the Stockholm International Peace Research Institute (SIPRI), highlighting a notable shift in Bulgaria's defense strategy.

With a combined arms revenue of $5.5 billion, four Turkish companies, namely Aselsan, Baykar, Turkish Aerospace Industries and Roketsan, have made it to the Stockholm International Peace Research Institute's (SIPRI) Top 100 list for 2022 — two more than in 2021.

Baykar (ranked 76th) and Roketsan (ranked 100th) entered the Top 100 for the first time.

Global military spending rose to a record last year because of Russia's war on Ukraine. Annual military spending in Europe is at its highest level since the end of the Cold War three decades ago. This was announced in a statement today by the Stockholm International Peace Research Institute (SIPRI), quoted by Reuters.

Turkish President Recep Tayyip Erdogan visits a drone factory. Photo: Turkish Presidency

Turkey's global share of the trade also increased in the period 2018-2022, by 0.5 per cent. Turkey's arms exports comprise 1.1 per cent of all global arms exports.

Global military spending rose again in 2021, setting new records as Russia continued to beef up its military prior to its invasion of Ukraine, researchers said yesterday, predicting the trend would continue in Europe in particular.

The world's biggest weapons manufacturers largely avoided the economic downturn caused by COVID-19 and recorded a growth in profits last year for the sixth year in a row, according to a report published on Dec. 6.

World military expenditure rose 3.6 percent year-on-year in 2019, the largest annual rise in a decade, according to an international survey released on April 27.

The Stockholm International Peace Research Institute (SIPRI) said the global military spending reached $1.9 trillion last year.

China ranks second in the world in weapons production after the United States. Four Chinese companies in the industry are among the top 20 arms dealers in the world, according to a report by a Swedish research institute published today.

The arms sales of Turkish companies rose by 24 percent in 2017, according to a report released on Dec. 10 by the Stockholm International Peace Research Institute (SIPRI).