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SIPRI report finds that USA and China dominate the arms market in 2019
Key findings of the report
- Stockholm International Peace Research Institute (SIPRI) report states that U.S. and Chinese companies dominated the global arms market in 2019, while the West Asia made its first appearance among the 25 biggest weapons manufacturers
- According to SIPRI, U.S. arms industry accounted for 61% of sales by the world’s “Top 25” manufacturers last year, ahead of China’s 15.7%
- New data from SIPRI’s Arms Industry Database shows that arms sales by the world’s 25 largest arms-producing and military services companies (arms companies) totalled US$361 billion in 2019.
- This represents an 8.5 per cent increase in real terms over the arms sales of the top 25 arms companies in 2018.
- The report finds that total sales by the “Top 25” rose by 8.5% to $361 billion, or 50 times the annual budget of the UN’s peacekeeping operations.
- As per the report, six U.S companies and three Chinese firms were in the top 10, rounded out by Britain’s BAE Systems in seventh spot.
- According to SIPRI, the U.S. has dominated the market for decades, but for China — whose companies’ sales rose by almost 5% in 2019 — “this increase corresponds to the implementation of reforms to modernise the People’s Liberation Army underway since 2015
- It also mentions that U.S. companies Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics clinched the top five spots, while China’s AVIC, CETC and Norinco held spots six, eight and nine. U.S. group L3Harris Technologies was in 10th place.
- SIPRI also noted that French group Dassault had shot up from 38th to 17th place, boosted by exports of its Rafale fighter jets in 2019.
- Meanwhile, two Russian companies were also in the “Top 25”, Almaz-Antey in 15th spot and United Shipbuilding in 25th.
West Asia in the top 25
For the first time, a Middle Eastern firm appears in the top 25 rankings. EDGE, based in the United Arab Emirates (UAE), was created in 2019 from the merger of more than 25 smaller companies. It ranks at number 22 and accounted for 1.3 per cent of total arms sales of the top 25.
About the Stockholm International Peace Research Institute (SIPRI)
- SIPRI is is an international institute based in Stockholm
- It was founded in 1966 and provides data, analysis and recommendations for armed conflict, military expenditure and arms trade as well as disarmament and arms control.
- SIPRI’s organizational purpose is to conduct scientific research in issues on conflict and cooperation of importance for international peace and security, with the goal of contributing to an understanding for the conditions for a peaceful solution of international conflicts and sustainable peace.
Source: The Hindu & SIPRI
