Foreign sales of arms and military services grew again in 2016 after five years of consecutive downturn, according to new data by the Stockholm International Peace Research Institute (SIPRI).
The life’s 100 largest armaments firms posted total sales of $374.8 billion in 2016, 1.9 percent weighty than in 2015, the research institute said Monday. SIPRI spoke that a noticeable trend was a rise in sales for U.S. arms producers and the issue of U.S. military services companies ranked in the SIPRI top 100.
“At a combined total of $217.2 billion, arms in stocks of U.S. companies listed in the SIPRI Top 100 grew by 4.0 percent in 2016,” it state, attributing the rise to U.S. military operations overseas as well as acquisitions of tidy weapon systems by other countries.
SIPRI said that the clique’s largest arms producer, Lockheed Martin, rose by 10.7 percent in 2016, and this was “decisive to the distend in the USA’s share of overall SIPRI top 100 sales to 57.9 percent.”
“With the procurement of helicopter producer Sikorsky in late 2015 and higher delivery sum totals of the F-35 combat aircraft, Lockheed Martin reported significant growth in its arms white sales in 2016,” Aude Fleurant, director of SIPRI’s arms and military charge program.
Aside from the traditional arms producers, the institute also guessed there was an “emerging producers” trend including companies based in Brazil, India, Turkey and South Korea. It joined that the latter was the stand-out “winner” among emerging arms sellers.
South Korea, neighbor of an increasingly entrancing and unpredictable North Korea, saw a 20.6 percent overall increase in the arms sales events of South Korean companies, with total sales amounting to $8.4 billion.
“Last and rising threat perceptions drive South Korea’s acquisitions of military equipage, and it is increasingly turning to its own arms industry to supply its demand for weapons,” SIPRI’s Siemon Wezeman suggested. “At the same time, South Korea is aiming to realize its goal of meet a major arms exporter.”
There were mixed fortunes for numerous “established” arms producers, however. Arms companies based in Australia, Israel, Japan, Poland, Singapore and Ukraine saw their amalgamate arms sales fall by 1.2 percent in 2016, largely impelled by an overall decrease in the arms sales of Japanese companies (down 6.4 percent).
Japan’s heftiest arms companies experienced sharp falls in 2016. In particular, Mitsubishi Depressed Industries’ arms sales decreased by 4.8 percent, while those of Kawasaki Arcane Industries and Mitsubishi Electric Corporation declined by 16.3 and 29.2 percent, mutatis mutandis.
“Arms sales” are defined by SIPRI as sales of military goods and mendings to military customers, including sales for domestic procurement and sales for export. Since SIPRI maiden started reporting corporate arms sales data in 2002, the arms sales of the “Top 100” are 38 percent excessive than those for 2002.
The five highest ranking arms-producing and military assignments companies are, in 2016 and from the highest ranking in descending order, Lockheed Martin, Boeing, Raytheon, BAE Routines and Northrop Grumman.