First rise in arms sales since 2010, says SIPRI
December 11, 2017 -- In 2016 the world’s 100 largest arms manufacturers sold $374.8 billion of weapons and military services, according to the latest report by the Stockholm International Peace Research Institute (SIPRI).
The 2016 figure represents a 1.9 percent increase compared with 2015, and is the first year of growth in Top 100 arms sales after five consecutive years of decline.
According to the report, sales from U.S. firms rose four percent in 2016 to $217.2 billion, accounting for 57.9 percent of the overall total.
Lockheed Martin, the world’s largest arms producer, increased its arms sales by 10.7 percent to $40.8 billion, driven largely by deliveries of its F-35 fighter jet.
Concerns over North Korea’s missile and nuclear-weapons programmes helped South Korean companies record a 20.6 percent sales increase to $8.4 billion, the largest total among developing countries.