According to data from the Stockholm International Peace Research Institute (SIPRI), the global arms trade has steadily increased over the past two decades.
In 2021, sales reached an estimated US$592 billion, a 7.6% increase compared to 2020, marking the highest record since SIPRI began its data collection.
SIPRI has yet to release global arms sales data for 2022 and 2023.
However, sales are expected to have continued to rise during these years, given the ongoing Russia-Ukraine war, which began in February 2022, and the outbreak of the Israel-Palestine conflict in early October 2023.
According to investigative journalist Eric Lipton of *The New York Times*, global demand for weapons had already strengthened even before the escalation of the Israel-Palestine war.
He stated this in his article, *Middle East War Adds to Surge in International Arms Sales*, published by *The New York Times* on Tuesday, October 17, 2023.
"Before Israel retaliated against Hamas attacks, a combination of Russia's invasion of Ukraine and the perceived growing threat from China had triggered a global rush to buy fighter jets, missiles, tanks, artillery, ammunition, and other lethal equipment," said Eric Lipton.
"The surge in arms sales is also driven by rapid advancements in warfare technology, even pressuring powerful nations to purchase new-generation military equipment to remain competitive," Lipton continued.
Meanwhile, Michael Klare, a board member of the non-profit organization Arms Control Association, believes the increase in arms sales reflects a heightened risk of conflict and could exacerbate the scale of wars.
"We live in a very fragile world, with many unresolved conflicts, such as tensions between Pakistan and India, or between Azerbaijan and Armenia, all of which have recently increased the purchase of military equipment," said Michael Klare, as reported by *The New York Times* on Tuesday, October 17, 2023.
"There is a risk that these arms sales will worsen regional conflicts and ultimately trigger wars between major powers," he added.