The Gunners have made three signings during this summer's transfer window, with Kai Havertz, Jurrien Timber and Declan Rice making the move to the Emirates Stadium.
Meanwhile, the likes of Folarin Balogun, Nicolas Pepe and Cedric Soares have returned to the club following loan spells during the 2022-23 campaign.
There have been three first-team exits, with Granit Xhaka, Pablo Mari and Ainsley Maitland-Niles moving on, but Arsenal currently have a 30-man first-team squad, which Arteta has said needs to be addressed before the club think about further strengthening their squad this summer.
"We have 30 players here which is unsustainable, and obviously the market is still open," Arteta told reporters following the 5-3 win over Barcelona in Los Angeles. "Things can happen - but we are prepared.
"We are really happy with the squad we have at the moment; we obviously have improvements to make in terms of what we want to do in games, and we have to do that. Overall, I'm really pleased with the team."
Arteta also praised the performances of Gabriel Jesus and Havertz during the success over Barcelona.
"If we have somebody that can score 25, 30, 40 goals, then great," the Spaniard added following the friendly. "Today, Gabby [Jesus] didn't score but it's the best Gabby that I've seen for months.
"Again, he gave that energy, that belief, he was creating lot of chaos, a lot of good moments - he was making everybody better and I'm really pleased with that.
"And the contribution from Kai [Havertz] as well, that's why he's playing, he's got that quality, in and around that position with Leo. We have a lot of options up front and they're going to have to compete between them to give me a hard time."
Bukayo Saka, Havertz and Fabio Vieira scored for Arsenal, while Leandro Trossard netted a second-half brace during the eight-goal thriller on Wednesday night.
There was no Rice or Oleksandr Zinchenko due to injuries, though, while Balogun, who continues to be linked with a summer exit, also missed the contest with a foot issue.
"Yes, we will have to see. First of all, he has to be fit and available to play minutes," Arteta added when asked whether Balogun had a role to play in the coming season.
Arsenal will face Monaco in the Emirates Cup next Wednesday before taking on treble winners Manchester City in the Community Shield next weekend.