x

U.S. firms dominate global sales of military equipment, services – Report

Defense firms in the U.S. accounted for more than half of the global sales of military equipment and services by the world’s top 100 arms groups in 2018.

Stockholm International Peace Research Institute (SIPRI), a Swedish-based institute made this known on Monday.

The institute added that global sales were worth 420 billion dollars in 2018, the most recent year it covered.

The top 100 list included 43 U.S. companies.

They accounted for 59 per cent of global arms sales with sales of 246 billion dollars.

Combined sales of the 10 Russian firms on the top 100 list accounted for almost 9 per cent of global sales, a slight drop compared to 2017.

Of the top 100 global defence companies, 70 were based in the U.S. and Western Europe.

They accounted for about 83 per cent of global sales for 2018, according to SIPRI’s estimates.

As in past years, SIPRI said it did not include firms in China, citing lack of data.

Lockheed Martin cemented its position as the world’s largest arms seller with 11 per cent of global sales.

SIPRI said that the maker of the F-35 combat aircraft had sales of 47.2 billion dollars.

Created in 1966 by the Swedish parliament, SIPRI tracks military spending and arms transfers. (dpa/NAN)

Hot this week

ASUU Issues 14-Day Ultimatum to FG Over Unmet Demands, Threatens Strike

The Academic Staff Union of Universities (ASUU) has given...

CSOs fault DAPPMAN’s ₦75 per litre coastal freight cost demand

Coalition of Civil Society Organisations in Nigeria (COCSON) and...

Tinubu’s Renewed Hope Agenda Anchored on Infrastructure, Says Minister Goronyo

By Jabiru Hassan The Minister of State for Works, Barrister...

Nigeria @65: Northern CAN Urges Hope, Calls on Leaders to Strengthen Nation-Building

By Achadu Gabriel, Kaduna The Christian Association of Nigeria (CAN),...

Security: Wike Lights Up Abuja Districts, Flags – Off integrated Solar Lighting Project

By Joyce Remi-Babayeju The FCT Minister, Barr. Nyesom Wike, on...

Gov Sule Flags Off Bursary Disbursement, Reiterates Commitment to Education

By Abel Leonard, Lafia Governor Abdullahi Sule of Nasarawa State...

North-Central APC Forum Urges Tinubu, NASS to Reject Calls for State Police

By Israel Adamu, Jos The North-Central All Progressives Congress (APC)...

Africa’s infrastructure deficit takes spotlight at pre-G20 event

..Two-day side event in Johannesburg seeks to mobilize global...

Bandits Kill Businessman in Kogi, Kidnap Bus Passengers in Yagba

Ny Noah Ocheni, Lokoja Suspected bandits have killed a prominent...

Related Articles

Popular Categories

spot_imgspot_img