- 14 Mar 2002
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Japan's defence industry is experiencing significant growth, with top companies seeing a 35% increase in sales in 2023. This surge is driven by Tokyo's efforts to strengthen its defence capabilities and production base.
A recent report by the Stockholm International Peace Research Institute (SIPRI) highlights the global boom in the arms industry. The top 100 companies generated $632 billion in revenue in 2023. Among Asian companies, Japanese and South Korean firms led the way. The five major Japanese defence companies—Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Fujitsu, NEC, and Mitsubishi Electric—collectively saw their arms sales rise to $10 billion in 2023.
South Korean defence companies also saw significant growth, with a 39% increase in arms sales, reaching $11 billion. Experts attribute this surge in Japanese and South Korean defence industries to growing regional tensions and the perceived threat of potential conflicts, similar to the ongoing war in Ukraine.
A recent report by the Stockholm International Peace Research Institute (SIPRI) highlights the global boom in the arms industry. The top 100 companies generated $632 billion in revenue in 2023. Among Asian companies, Japanese and South Korean firms led the way. The five major Japanese defence companies—Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Fujitsu, NEC, and Mitsubishi Electric—collectively saw their arms sales rise to $10 billion in 2023.
South Korean defence companies also saw significant growth, with a 39% increase in arms sales, reaching $11 billion. Experts attribute this surge in Japanese and South Korean defence industries to growing regional tensions and the perceived threat of potential conflicts, similar to the ongoing war in Ukraine.
Top Japan defense industry firms saw sales boom in 2023
Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Fujitsu, NEC and Mitsubishi Electric saw their combined revenues from arms rise by 35% to $10 billion.