Iran supplied Hezbollah with an estimated $129 million in free weapons and military equipment in 2024, accounting for most of the roughly $157 million the terrorist group acquired that year.

The Center for Research of Terror Financing, known as CENTEF, estimates Hezbollah paid approximately $28 million from its own funds. The distinction matters: the larger figure represents the value of weapons acquired—not Hezbollah’s cash spending, its entire arsenal or its total military budget.

Researchers estimate the group acquired 4,500–6,500 rockets and missiles during 2024 despite disruptions to its supply lines. The analysis also covers anti-tank missiles, drones, air-defense systems and ammunition, including an estimated eight million rounds.

Anti-tank guided weapons were the largest category in CENTEF’s model, valued at approximately $55 million. Drones accounted for roughly $25 million, with launchers, vehicles and related platforms representing another $25 million.

The figures are modeled estimates, not audited records or verified shipment totals. Because Hezbollah’s procurement is clandestine, researchers relied on open-source information, replenishment patterns and assumptions about Iran’s production and delivery capacity. CENTEF cautions that its findings provide an approximate financial picture.

Researchers also estimate Hezbollah spent $26 million–$28 million on media in 2024. They say mapping these expenses and Iranian support could help identify financial dependencies and supply networks to disrupt.