The global arms market in 2021 began to grow gradually after the pandemic, but at a slower pace than before. The USA remains the leader, but China is actively increasing production.
This is stated in a report by the Stockholm Peace Research Institute (SIPRI).
The 100 largest arms manufacturers in 2021 generated a total of about $592 billion. This represents an increase of almost two percent compared to the previous year.
In general, American companies provide about half of the entire world arms market. But in 2021, their production slowed down somewhat.
At the same time, in Europe, the growth in the arms market was more than 4%. Researchers emphasize that due to the war in Ukraine, European manufacturers will receive significantly more orders in 2022, and the growth will be even greater.
Arms production is actively growing in Asia and the Middle East. In recent years, China has become the worldʼs second-largest arms producer, with only the US currently producing more. The increase in arms sales reflects the scale of modernization of Chinaʼs military equipment and the countryʼs desire to reach the level of self-sufficiency in the production of all major categories of arms.
The Russian arms industry grew minimally in 2021, but for 2022, researchers predicted serious growth due to the need to support hostilities.