Tags: Arms | Sales | Defense | Contractors

Report: Arm Sales by International Defense Contractors on the Rise

Image: Report: Arm Sales by International Defense Contractors on the Rise

By    |   Tuesday, 12 December 2017 12:57 PM

Sales of arms by international defense contractors have risen for the first time in five years, according to the Swedish think tank Stockholm International Peace Research Institute (SIPRI).

Sales by the top 100 companies in the industry rose 1.9 percent after five years of declining—and have risen 38 percent since 2002, when the institute began recording corporate arms sales, according to the institute’s report.

Arms sales by Lockheed Martin, the world’s biggest arms producer, increased by 10.7 percent in 2016. U.S. companies overall saw a 4 percent increase in arms sales, the report said.

The threat of North Korea drove the increase, as sales by South Korean companies reached $8.4 billion in 2016, a 20.6 percent rise from 2015, the report said.

“Continuing and rising threat perceptions drive South Korea’s acquisitions of military equipment, and it is increasingly turning to its own arms industry to supply its demand for weapons,” said Siemon Wezeman, a senior researcher with the institute’s arms and military expenditure program.

After Lockheed Martin on the list of top arms-producing and military service companies are Boeing at No. 2, followed by Raytheon, BAE Systems, and Northrop Grumman, according to figures from SIPRI.

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Sales of arms by international defense contractors have risen for the first time in five years, according to the Swedish think tank Stockholm International Peace Research Institute (SIPRI). Sales by the top 100 companies in the industry rose 1.9 percent after five years of...
Arms, Sales, Defense, Contractors
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2017-57-12
Tuesday, 12 December 2017 12:57 PM
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