SIPRI report: sales growth for large arms companies

Status: 06.12.2021 12:49 a.m.

Although the global economy contracted in 2020 due to the corona pandemic, the 100 largest armories continued to record growing sales. US corporations remain the front runners.

According to peace researchers, the 100 largest armaments companies in the world increased their sales in the first year of the corona pandemic. Despite the tense situation in the world economy, the companies sold arms and military services worth 531 billion US dollars (470 billion euros) in 2020, according to the peace research institute Sipri in Stockholm.

That was 1.3 percent more than in 2019. Compared to 2015, it is even a plus of 17 percent. While the economies of many countries contracted due to the pandemic, armaments companies’ sales grew for the sixth year in a row, the peace researchers said.

USA remains the front runner

The USA remained the front runner. 41 US armories alone, which are responsible for more than half of the sales, are represented on the international list. Last year they sold war equipment valued at 285 billion US dollars (252 billion euros), almost 2 percent more than in 2019.

The second largest share of global arms sales was recorded by China (13 percent), followed by Great Britain (7.1 percent). According to the report, the 26 European companies were responsible for about a fifth of the sales of the 100 largest arms companies with sales worth 109 billion US dollars (96 billion euros).

The four German arms companies on the list sold weapons worth 8.9 billion US dollars (7.8 billion euros) in 2020, slightly more than in 2019. Sales by Russian armaments companies, on the other hand, fell for the third year in a row. Compared to 2019, they fell last year to 26.4 billion US dollars (23.4 billion euros).

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