Story: Russia-Ukraine war effects arm sales worldwide; 06-12-2022;
Global arms sales up 1.9 percent due to Russia-Ukraine war.
The war between Russia and Ukraine may not have yielded any profit for the common man but has proven out to be a gold rush for the world’s 100 biggest defence companies as they've seen a 1.9% rise in the sales of the weapons they produce, that is $592 billion in 2021. According to new data from the Stockholm International Peace Research Institute (SIPRI).
• Global arms sale went up from 1.1 percent in 2019-2020 to 1.9 in 2021.
• According to SIPRI report in its Arms Industry Database the hike marked 7th consecutive year of rising global arms sales.
The fact that the supply chain disruption due to pandemic has caused a lot of issues worldwide and the defence sector has suffered as well, even with disrupted supply the arms sales are on the rise worldwide.
NATO and many other countries are continuously supplying Ukraine with the modern arms to keep the fight going on in Ukraine against Russia.
Russia on the other hand is also getting its fair share of arms from various nations, like Iran, North Korea, China etc.
“We might have expected even greater growth in arms sales in 2021 without persistent supply chain issues,” Lucie Béraud-Sudreau, director of the SIPRI Military Expenditure and Arms Production Programme, said in a statement.
“Both larger and smaller arms companies said that their sales had been affected during the year. Some companies, such as Airbus and General Dynamics, also reported labour shortages.”
Brief about SIPRI:
Founded in 1966, Stockholm International Peace Research Institute (SIPRI) is an international institute that provides data, analysis, and recommendations for armed conflict, military expenditure and arms trade as well as disarmament and arms control.
SIPRI's research projects maintain various large databases, one of which is the SIPRI Arms Industry Database. Arms Transfers Database is the most extensive source of information on international arms transfers available to the public.
The current version contains data from 2002, including data for companies in Russia. Chinese companies are included in the database from 2015 onwards. The Top 100 listing includes the 100 companies with the largest arms sales during the year.
The database is updated every spring and is useful for anyone seeking to monitor and measure the international flow of major conventional arms.
US companies came out at the top:
The US based arms companies like Lockheed Martin, Raytheon Technologies, Boeing, Northrop Grumman and General Dynamics, were at the top of the list declared by SIPRI, while 40 US companies dominated the list with sales of $299 billion worth of arms in 2021.
China and South Korea increased arms sale:
Chinese and South Korean manufacturers saw significant hike in the arms sale share globally. China saw an increase of 6.3 percent from the year before, while South Korean companies rose with the four companies in SIPRI’s list reporting combined sales 3.6 percent above the previous year, with $7.2 billion of revenue generated.
Four South Korean companies made it in the Top 10.
Chinese companies total arms sales of $109 billion, with eight companies in the list.
Russia faces hard time making and selling weapons:
Six Russian companies made it in the Top 100 list. Arms sales from these companies were totaled $17.8 billion, with an increase of only 0.4 percent.
Russia is facing difficulties in arms industry as the Russia-Ukraine war brought international sanctions.
Middle Eastern countries saw rise:
The five Middle East based companies generated $15.0 billion in arms sales in 2021, according to the list of top 100 list released by SIPRI.
This was a 6.5 per cent increase compared with 2020, the fastest pace of growth of all regions represented in the Top 100.
The data shows billions of Dollars being generated on the cost of innocent human lives, and exactly who is benefiting from the wars in general. Atleast not the common man.