Arms industry flourishing despite Covid
December 6, 2021 - Sales of arms and military services by the top 100 weapons companies totalled $531 billion in 2020, 1.3 percent more than in 2019, according to the Stockholm International Peace Research Institute (SIPRI).
Taken together, the arms sales of the 41 companies in the top 100 based in the United States increased by 1.9 per cent to $285 billion. These U.S. companies accounted for 54 per cent of the top 100’s total arms sales in 2020.
Accounting for 13% of the total, the arms sales of five Chinese companies included in the top 100 rose 1.5% to $66.8 billion in the same period.
Chinese firms were behind the U.S. companies and ahead of companies from the United Kingdom, which made up the third-largest share.
The 26 European arms companies in the top 100, meanwhile jointly accounted for 21% of total arms sales, or $109 billion.