The global weapons industry and what it's worth

The continuing wars in Ukraine and the Middle East have horrified the world with the loss of life and devastation, raising the question, what's the cost of weaponry? World military expenditure surpassed $US2.44 trillion for the first time in 2022. 

Latest available figures show at $US916 billion, the US spends the most and it's also the world's largest exporter of weapons. Also US spending on Israel's military operations and related US operations in the Middle East this year total $22.76 billion, and that is only a partial figure. So how are some of these sums broken down?

Guests:

• William Halsortung, Senior Research Fellow at the Quincy Institute for Responsible Statecraft, and author of Prophets of War: Lockheed Martin and the Making of the Military Industrial Complex
• Siemon Wezeman, Senior Researcher in SIPRI's Arms Transfers Program. (Stockholm's International Peace Research Institute)
• Dr Marcus Hellyer, Head of Research at Strategic Analysis Australia