Sanctions against Russian and Chinese companies in the field of procurement have played a role in limiting their global presence.
Sales of weapons and military services by the world's 25 largest companies in 2019 increased by 8.5%, compared to the previous year, and amounted to $361 billion. This is stated in the report of the Stockholm international peace research Institute (SIPRI), published on Monday, December 7.
So, last year, 12 of the 25 companies mentioned, with a total share of 61%, were located in the United States. At the same time, five of them with sales of $166 billion are the leaders of the rating. We are talking about Lockheed Martin, Boeing, Northrop Grumman, Raytheon, and General Dynamics.
The second place in terms of arms sales after the United States belongs to China. Its military-industrial companies accounted for 16%. Three of the four companies listed in the ranking are in the top ten вЂ” Aviation Industry Corporation of China (sixth place), China Electronics Technology Group Corporation (eighth place), and China North Industries Group Corporation (ninth). The fourth company вЂ” China South Industries Group Corporation-occupies the 24th line of the list.
In addition, six Western European companies accounted for 18% of the sales of weapons and military services.
According to the report, for the first time in this group of leaders was a company from the Middle East вЂ” EDGE, created in the UAE last year by merging about 25 small companies. It ranked 22nd with a 1.3% share.
Also, a newcomer was the American company L3Harris Technologies, which was placed in tenth place of the rating. It was created in 2019 by the merger of two other companies вЂ” Harris Corporation and L3 Technologies.
вЂњChinese and Russian military companies from the top 15 have only a limited international presence. Sanctions against Russian companies and government restrictions on Chinese companies in the field of procurement have played a role in limiting their global presence, вЂњ the experts said.