Russia emerged as World’s No.2 arms producer, as per latest Swedish think tank Stockholm International Peace Research Institute (SIPTI) report
Published: December 14, 2018
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.