Global arms sales top $360bn as US and China dominate

Dominated by America and China, the global arms industry recorded a nearly nine per cent jump in sales in 2019 from the previous year, according to a study released Monday.

Based on the most recent publicly available data about sales of arms and military services, the 28-page report by the Stockholm International Peace Research Institute (Sipri), Mapping the International Presence of the World’s Largest Arms Companies, provides a partial picture of the growing magnitude and internationalisation of the military industry.

According to the report, the world’s 25 largest arms manufacturers reported $361bn (£269bn) in sales in 2019, an increase of 8.5 per cent from the previous year.

American companies such as Lockheed Martin, Boeing, and Northrop Grumman, continue to dominate the arms manufacturing and services industry, with 12 of the world’s top 25 firms headquartered in the United States.