The deepening of global processes affects the emergence and development of new conflicts. Modern wars reveal the essence of the global system. Scientific research on the relationship between conflicts and economic development in the current context of global economic processes more relevant is an actual problem. New threats and challenges are reflected in changes in the principles of development of the peace economy and the conflict economy. The objective of the article is to study the peculiarities of impact of international conflicts on economic development in the current global environment. The reduction of military budgets during the end of the Cold War against the backdrop of significant innovations in the military sphere led to changes in the structure of the defence industry. The development of military affairs and technology, as well as the transformation of the principles of warfare, have contributed to the emergence of such types of conflict as asymmetric warfare, where the technological superiority of any state is no longer a guarantee of its security. Military superiority plays an important role in international relations for major arms-producing countries, as the defence sector, due to its specific nature, represents an important part of national production, and decisions made in this area have a special impact on national economic structures. The impact of military expenditures on economic growth remains a controversial issue.