Day by day arms demand, exports and imports rising. US in tops global arms trade market in the top 10 manufacturers company, second positions stands China.
Some buy weapons to strengthen the country’s defenses, while others buy weapons to influence or attack another country. Some compete for power with their neighbors or build up weapons to show regional superiority.
But for the most part, it ignores basic sectors such as education and health and spends more on weapons than the country can afford.
In addition, warlords or separatists or terrorists, and militant groups from different countries also collect large quantities of weapons.
In the present world, the trade in arms and military equipment is increasing day by day, both logically and irrationally.
In 2019-2020, the 25 largest companies in the world sold arms and military services worth $361 billion. Arms sales in 2020 are 9.5 percent more than in 2019. The data recently published at the Stockholm International Peace Research Institute (SIPRI) in Sweden.
According to SIPRI’s Arms Industry Database, the diversity is noticeable geographically, in the presence of arms and military vendors in the international arena.
The absolute domination of the United States
The global arms market is dominated by US companies. In 2019, the top 5 arms companies were in the United States. The companies are Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics.
The 5 companies sold arms and military equipment worth $166 billion last year. This means about 46 percent of the total arms sales of the top 25 companies. Of the top 25 companies, 12 are from the United States. These 12 US companies account for 61 percent of the total arms sales in the top 25.
The emergence of two newcomers arms company
This is the first time a company from the Middle East has entered the top 25. That is the United Arab Emirates (UAE) Edge (EDGE). It is in 22nd place. Edge also started its journey last year due to the merger of 25 small companies.
Elthriharis Technologies is another newcomer to the top 25. It is in tenth place. Harris Corporation and Elthree merged to form the company.
The Chinese arms company are advancing, the Russian arms company are retreating
There are 4 Chinese companies on Sipri’s list. Their sales have increased by 4.8 percent. All three of them are top-notch. The companies are Aviation Industry Corporation of China (AICC), China Electronics Technology Group Corporation (CETGC) and China North Industries Group Corporation (NORINCO, IX).
Another Chinese company is China South Industries Group Corporation (CSGC, 24th).
Nan Tian, a senior researcher at SIPRI, said the country’s military companies are benefiting from China’s military modernization program for the People’s Liberation Army.
In the first 25 years, there were only two Russian companies, one of the world’s military powers — Almaz-Ante and United Shipbuilding. Compared to 2018, the sales of the two companies have decreased by $634 million in 2019-2020.
Sales of another Russian company, United Aircraft, fell $1.3 billion from a year earlier. As a result, the company dropped out of the top 25.
Alexander Kuimova, a researcher at CIPRI, said the United Shipbuilding was facing challenges in 2019 due to internal competition and reduced government spending on naval modernization.
Top 25 bestsellers arms company
China accounts for 16 percent of the combined arms and military sales of the top 25 companies in the country. The share of the six countries in Western Europe is 18 percent. The share of the two Russian companies is 3.9 percent.
Sales of 19 out of 25 companies have increased in 2019 as compared to 2018. Of these, Lockheed Martin in the United States alone sold the most weapons and military equipment worth 5.1 billion, accounting for 11 percent of the total sales of the top 25 companies.