The influence of Brothers in Arms resonated strongly on the charts. It remained for fourteen non-consecutive weeks at the top of the UK Albums Chart and nine weeks at the summit of the Billboard 200 in the United States, in addition to leading the Australian Albums Chart for 34 weeks. This success translated into accolades, such as a Grammy in 1986 for Best Engineered Album, Non-Classical, and a Brit Award in 1987 for Best British Album. Songs like Money for Nothing, which featured vocal participation from Sting, or Brothers in Arms, became pillars of the album. The overall sound of the album, which combined stadium rock style with folk touches and the distinctive guitar sound of Dire Straits, benefited from a more elaborate and powerful production.
The album's significance extended over the years, with reissues seeking to preserve its legacy. In 2006, a half-speed mastered vinyl reissue offered the complete songs for the first time in this format, spread across four sides. In 2020, Rolling Stone magazine ranked it at number 418 on its list of the 500 Greatest Albums of All Time, and Q magazine placed it at number 51 on its ranking of the 100 Greatest British Albums Ever. To commemorate its 40th anniversary in 2025, a special reissue was released that included the complete album along with an unreleased live concert from the world tour.