Arms sales rise for the first time in 6 years, study finds

Arms sales rise for the first time in 6 years, study finds

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The “top 100” of arms companies reflects the overwhelming dominance of US and Western European firms.

The sales of the top one hundred arms companies rose for the first time in 6 years in 2016 to 374,800 million dollars (318,737 million euros), according to a report released this Sunday (10.12.2017) by the International Institute for Peace Studies. Stockholm (SIPRI).

The increase, of 1.9% over the previous year, was caused by the implementation of new national weapons programs, ongoing military operations in several countries and the growing demand for persistent regional tensions.

The “top 100”, which does not include Chinese companies due to a lack of reliable data, reflects the overwhelming dominance of US and Western European firms, which control 82.4% of transactions and take over the list of the top ten.

US companies -38 of the top one hundred and 57.9% of total trade-sold for 217.2 billion (184,711 million euros), 4% more, for transoceanic military operations and the purchase of large weapons systems by other countries . Of that nationality are the three largest arms firms, Lockheed Martin, Boeing and Raytheon.

Western European companies presented a turnover similar to that of the previous year, with 91,600 million (77,900 million euros), according to the report, which states that the announcement of the departure of the United Kingdom from the EU has not affected the British companies, Instead, they increased their turnover by 2%.

Sales of Russian companies rose by 3.8% to 26,600 million (22,621 million euros), 3.8% more year-on-year and 7% of the world total, which represents a slowdown in the upward trend of the last years, which is explained by the economic difficulties that the country is going through.

The report highlights that among the considered emerging producers – Brazil, India, Turkey and South Korea – the latter country stood out with a rise of 20.6%. Brazil’s Embraer climbed from 91st to 81st place, while Spaniard Navantia dropped one spot to 98th.

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