On August 17, Atlantic Council Senior Fellow Steven Grundman was quoted in a DefenseNews article on “Arms trade momentum: Globalization and US defense spending drive defense industry growth,” by Joe Gould. The article discusses the results of DefenseNews‘ Top 100 list of Fiscal Year 2019 defense revenues by company. The list totaled $524 billion, having increased for the fourth straight year. Grundman commented that “The single most striking thing about these data is the year-over-year growth, the median of which is about 7 percent.”
For an industry generally regarded as mature, revenue growth that runs at two times global GDP is downright sporty.
