The Strategist

SIPRI: Arms sales of the world's top 100 companies grow by 1.9% in 2021

12/05/2022 - 09:31

According to a report from the Stockholm International Peace Research Institute (SIPRI), global arms sales have been increasing for the seventh year in a row in 2021. Sales grew by 1.9 percent last year to $592 billion, the organization's study states, but there were supply chain issues that could get worse as a result of military activity in Ukraine.

According to SIPRI, Russian industries are producing more weapons, but they are having trouble getting access to semiconductors and are also feeling effects of the sanctions. Six Russian businesses made the top 100 in 2021 despite this. Their overall revenues increased by 0.4 percent from 2020 to $17.8 billion. "Signs that there is widespread stagnation in the Russian arms sector," according to SIPRI.

American firms dominate the market for selling weapons; there are 40 in the ranking, and five of them are in the top 10. The total amount of their sales was $299 billion. The only other region to have a real terms loss was North America. Experts blame the United States' high inflation rate for it.

The 27 companies in Europe included in the report saw a 4.2% growth in total sales, to $123 billion, in 2021. The ranking includes 21 Asian and Oceanian firms with projected revenues of $ 136 billion, or 5.8% greater than in 2020. Eight Chinese businesses were responsible for $109 billion of that total. Four additional South Korean businesses on the list saw a 3.6% increase in sales to $7.2 billion.



< >

Friday, July 12th 2024 - 03:18 BP: demand for oil will peak in 2025