Published : Dec. 16, 2020 - 10:01
US and Chinese companies dominated the global arms market in 2019, while the Middle East made its first appearance among the 25 biggest weapons manufacturers, a report from the SIPRI research institute said.
The US arms industry accounted for 61 percent of sales by the world‘s top 25 manufacturers last year, ahead of China’s 15.7 percent, according to the Stockholm International Peace Research Institute.
Total sales among the top 25 rose by 8.5 percent to $361 billion - 50 times the annual budget of the UN‘s peacekeeping operations.
Six US companies and three Chinese firms were in the top 10, rounded out by Britain’s BAE Systems in the seventh spot. (AFP)