Eleven Russian firms are now ranked in the Stockholm International Peace Research Institute’s (SIPRI) Top 100 defense companies for 2014 compared to nine in 2013.
According to the report published Monday, Three companies entered the Top 100 in 2014. One company— Sozvezdie is no longer featuring, following a merger to form United Instrument Manufacturing Corporation (UIMC).
Almaz-Antey ranked 11 while the United Aircraft Corp (UAC) and United Shipbuilding Corp (USC) has ranked 14 in SIPRI’s top 100 defense companies worldwide for the year 2014. Russian Helicopters ranked 23, three spots up from 2013.
According to the report, “With a combined growth of 48.4 per cent, Russian companies substantially increased their arms sales between 2013 and 2014. Significant gains made by Russian arms companies can be attributed to high levels of Russian military spending and success in the export market.”
Three Russian companies—High Precision Systems, RTI and UIMC, are included in the Top 100 for the first time.
The Russian company showing the most significant growth in arms sales is Uralvagonzavod, with an increase of 72.5 per cent in its arms sales. Almaz-Antey, with a near 23 per cent increase in arms sales. ‘Russian companies are riding the wave of increasing national military spending and exports. There are now 11 Russian companies in the Top 100 and their combined revenue growth over 2013–14 was 48.4 per cent,’ says SIPRI Senior Researcher Siemon Wezeman.