Our Bureau
11:35 AM, December 10, 2018
4914
Lockheed Martin Sells More Arms Than Top 10 Russian Companies Combined
Russian Almaz-Antey air defense concern increased its arms sales by 17 per cent in 2017 (Image:mil.today)

Lockheed Martin is the world's leading arms seller with $44.9 billion sales while the combined sales of 10 Russian companies $37.7 billion during 2017, the Swedish International Peace Research Institute (SIPRI) reported.

Russia moved up to second place, ahead of the United Kingdom among a survey of the world's top 100 defence companies whose combined sales were totalled $398.2 bln in 2017, according to SIPRI's Top 100 list of largest arms producing companies around the world for the year 2017 published Monday.

With 42 companies listed in 2017, companies based in the US continued to dominate the Top 100 in 2017. Taken together, the arms sales of US companies grew by 2.0 per cent in 2017, to $226.6 billion, which accounted for 57 per cent of total Top 100 arms sales. Five US companies were listed in the top 10 in 2017. ‘US companies directly benefit from the US Department of Defense’ on-going demand for weapons,’ says Aude Fleurant, Director of SIPRI’s Arms and Military Expenditure Programme.

‘Almaz-Antey, which was already Russia’s largest arms producing company, increased its arms sales by 17 per cent in 2017, to $8.6 billion,’ says Alexandra Kuimova, Research Assistant with SIPRI’s Arms and Military Expenditure Programme.

Along with Almaz-Antey, three other Russian companies figured in the Top 100 increased their arms sales by more than 15 per cent: United Engine Corporation (25 per cent), High Precision Systems (22 per cent) and Tactical Missiles Corporation (19 per cent).

Also Read
Features
More..