Tribune News Service
New Delhi, December 7
While the US military equipment makers continued to dominate the global market in 2019, China pipped established players like France, UK and Italy to claim the second spot in the field.
Chinese firms accounted for around 16 per cent of the global arms sales in the year, which stood at $361 billion (8.5 per cent higher than 2018), according to data released on Monday by the Stockholm International Peace Research Institute (SIPRI), a leading international think-tank.
Twelve US companies appear in the ‘top 25’ tally, accounting for 61 per cent of the combined worldwide sales in 2019. Based in Sweden, the SIPRI said from China, four companies made it to the top-25 list. Three of them, in fact, are among the top 10: Aviation Industry Corporation of China (6th rank), China Electronics Technology Group Corporation (8th) and China North Industries Group Corporation (9th). The combined revenue of these four Chinese companies, which also includes China South Industries Group Corporation (ranked 24th), grew by 4.8 per cent between 2018 and 2019.
Reflecting on the rise in the sales of Chinese companies, SIPRI senior researcher Nan Tian said: “Chinese arms manufacturers are benefiting from military modernisation programmes for the People’s Liberation Army.” The US had the first five slots occupied—Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics.
Beijing beats key players
- Chinese firms accounted for 16% of the global arms sales in 2019
- Beijing beat established players like France, UK and Italy
- Four Chinese firms made it to top 25 global arms sellers in the year
- 12 US firms made it to top 25 with 61% of global sales
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