The armaments companies’ business went splendidly in the corona crisis year 2020. They were able to increase their sales for the sixth time in a row. The plus of 1.3 percent was somewhat smaller than in previous years, according to the current report by the Stockholm peace research institute SIPRI.
US companies are by far the leaders again. The 41 US companies on the list have combined arms sales of $ 285 billion. In second place is China, which, according to SIPRI, is developing into the “most advanced military technology producer in the world”. Great Britain follows in third place with a market share of 7.1 percent.
Sales by Russian armories, on the other hand, fell for the third year in a row. Compared to 2019, they dropped to $ 26.4 billion. An important reason for this development, the authors of the report, cite a change ordered by the political leadership in Moscow: According to this, civil business should account for 30 percent of the total turnover of arms companies by 2025, and only half by 2030.
Source: Nachrichten
