China at second spot after US in arms sales
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New Delhi, December 7
While the US military equipment makers continued to dominate the global market in 2019, China pipped established players like France, UK and Italy to claim the second spot in the field.
Chinese firms accounted for around 16 per cent of the global arms sales in the year, which stood at $361 billion (8.5 per cent higher than 2018), according to data released on Monday by the Stockholm International Peace Research Institute (SIPRI), a leading international think-tank.
Reflecting on the rise in the sales of Chinese companies, SIPRI senior researcher Nan Tian said: “Chinese arms manufacturers are benefiting from military modernisation programmes for the People’s Liberation Army.” The US had the first five slots occupied—Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics.
Beijing beats key players
- Chinese firms accounted for 16% of the global arms sales in 2019
- Beijing beat established players like France, UK and Italy
- Four Chinese firms made it to top 25 global arms sellers in the year
- 12 US firms made it to top 25 with 61% of global sales