The Stockholm International Peace Research Institute says sales of weapons and military services by the world’s 100 biggest arms companies reached a record $531bn in 2020, an increase of 1.3 per cent in real terms compared with the previous year,
The Swedish think tank says 2020 marked the sixth consecutive year of sales growth by the top 100 firms and came even as the global economy shrank. Overall sales were 17 per cent higher than in 2015 when it first included data on Chinese firms.
Firms in the United States continue to dominate the industry, with total sales of $285bn from 41 companies accounting for about 54 per cent of all arms sales among the 100 biggest companies.
SIPRI says the top five companies in the ranking since 2018 have all been based in the US.
The Stockholm International Peace Research Institute says sales of weapons and military services by the world’s 100 biggest arms companies reached a record $531bn in 2020, an increase of 1.3 per cent in real terms compared with the previous year,
The Swedish think tank says 2020 marked the sixth consecutive year of sales growth by the top 100 firms and came even as the global economy shrank. Overall sales were 17 per cent higher than in 2015 when it first included data on Chinese firms.
Firms in the United States continue to dominate the industry, with total sales of $285bn from 41 companies accounting for about 54 per cent of all arms sales among the 100 biggest companies.
SIPRI says the top five companies in the ranking since 2018 have all been based in the US.
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