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Arms sales rose by 5% throughout the world in 2018

Arms sales rose by 5% throughout the world in 2018

Worldwide arms sales rose by nearly five per cent in the year 2018. According to a new report by the Stockholm International Peace Research Institute (SIPRI), the market that is dominated by the United States. The turnover of the top 100 biggest arms manufacturers came to $ 420 billion. US manufacturers alone accounted for 59 per cent of the market, or a turnover of 246 billion dollars, up 7.2 per cent on the previous year.

Key Points:

  • Russia was ranked second for arms production, with 8.6% of the market which is just ahead of the United Kingdom (UK) on 8.4% and France on 5.5%. 
  • The study did not include China, for lack of sufficient data, but SIPRI estimated that there were between three and seven Chinese businesses in the top 100 arms manufacturers. 
  • The world's largest arms maker remains the US firm Lockheed Martin, as it has been since 2009. Its turnover last year was 47.3 billion dollars. Its sales alone account for 11 per cent of the world market.
  • The top-ranked Russian firm- Almaz-Antei, jumped to ninth on the list with a turnover of $9.6 billion which is 18% up on the previous year.
  • Turkey's arms industry had two businesses in the top 100 and a turnover of $2.8 billion, up 22% on the previous year.

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