Fri. Mar 29th, 2024

A study has found that the Russia has overtook the United Kingdom and became the second largest producer of arms in the world, according to the SIPRI (Stockholm International Peace Research Institute).

The Russian companies has now ranked just behind the United States manufactures, according to the sale of weapons systems in around the world.

Last year, the reports by researchers has stated that the sale of ten Russian companies in the world is listed in the top 100 ranking, increment of about 8.5 per cent to around $37.7bn.

The SIPRI reports stated: “The combined arms sales of Russian companies accounted for 9.5 per cent of the top 100 total, making Russia the second largest arms producer in the top 100 in 2017 – a position that had been occupied by the UK since 2002.”

However, the UK still remains the largest arm produces in the Western Europe with an arm sales of around 35.7bn and its seven of the companies still listed in top 100.

Director of SIPRI’s arms and military expenditure programme Aude Fleurant said, “The combined arms sales of British companies were 2.3 per cent higher than in 2016.” Fleurant further stated that “this was largely due to increases in the arms sales of BAE Systems, Rolls-Royce and GKN”.

The BAE system – ranked fourth under top 100, founds that its arm sales has raised by 3.3 percent in the year 2017, up to $22.9bn.

Senior researcher at SIPRI Siemon Wezeman said, “Russian companies have experienced significant growth in their arms sales since 2011,” adding, “This is in line with Russia’s increased spending on arms procurement to modernize its armed forces.”

However, the US still seen as a dominating player in the international business of arm trade. Under top 100, 42 American companies are listed in SIPRI, and also their sales growth in 2017 was about 2 percent up to $226.6bn.

The world largest producer of weapons in the world is Lockhead Martin, which calculates sales of about $44.9bn in last year.

Director of SIPRI said, “This significant increase reflects Turkey’s ambitions to develop its arms industry to fulfill its growing demand for weapons and become less dependent on foreign suppliers.”

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