Russia emerged as World’s No.2 arms producer, as per latest Swedish think tank Stockholm International Peace Research Institute (SIPTI) report
As per latest Swedish think tank Stockholm International Peace Research Institute (SIPTI) annual report, Russia has emerged as the world’s second-largest arms producer after the United States. Russia surpassed Britain, which had held that spot since 2002 and remains Western Europe’s No. 1 arms maker. According to the report on the world’s 100 biggest armaments groups, the combined arms sales of Russian companies amounted to $37.7 billion in 2017, or 9.5% of a total $398.2 billion, recording 8.5% year-on-year growth. The report includes both domestic and foreign sales around the globe, but doesn’t include Chinese companies because of unreliable statistics.