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Sales of arms and military services by the largest arms-producing companies totalled $401 billion in 2014. The global slowdown in arms sales between 2013 and 2014 is mostly attributed to a decline of 5.2 per cent in revenues of companies based in the United States and Western Europe. Lockheed Martin, has bucked the regional trend with a 3.9 per cent growth in real terms Despite difficult national economic conditions, the Russian arms industry’s sales continued to rise in 2014.
The latest report on international arm’s trade published by the Stockholm International Peace Research Institute (SIPRI) places the People’s Republic of China (PRC) in fifth place among the world’s top exporters of weapons. SIPRI’s Trends in International Arm’s Transfers report places China in the fifth spot for the first time since the Institute’s 1986-1990 reporting period.