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Volume of arms sale grew by 4.6 percent worldwide compared to that of 2017, - SIPRI

Source : 112 Ukraine

Ukraine's state-run Ukroboronprom company is ranked 71st of the world's 100 largest defense industry companies; top five consists of only U.S. companies
10:14, 9 December 2019

weapons
DPA

Stockholm International Peace Research Institute (SIPRI) released a new report, which shows that over the past two years, the worldwide volume of arms sale grew by 4.6 percent. The current volume makes 420 billion U.S. dollars. 

The American companies lead the way in the Top 100. The top five alone consists of Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics. In 2018, the overall volume of sales of these companies made 148 billion dollars, which made 35 percent of the overall volume of arms sale, reads the report.

The common volume of arms sales of all U.S. companies represented in the ranking increased by 7.2 percent and made 246 billion dollars or 59 percent from the overall volume of sales. 

Related: Nuclear states increase expenditures on arsenal development, modernization, - SIPRI

The growing tendency for the consolidation of defense companies became the key event in the U.S. military industry in 2018. SIPRI quoted Aude Fleurant, Director of SIPRI’s Arms and Military Expenditure Programme who said the following: ‘US companies are preparing for the new arms modernization program that was announced in 2017 by President Trump. Large US companies are merging to be able to produce the new generation of weapon systems and therefore be in a better position to win contracts from the US Government".

Ukraine's state-run Ukroboronprom company is ranked 71st of the world's 100 largest defense industry companies.

Related: U.S. ahead of Russia in global arms industry, – SIPRI

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