INTERNATIONAL RELATIONS
INTERNATIONAL RELATIONS
A new sales record was set this year by the large military equipment companies, despite the economic impact of the pandemic.
The turnover of the 100 largest defence groups reached $ 531 billion (€ 470 billion) in 2020, with more than half of those companies based in the United States, according to a report by the Stockholm International Peace Research Institute (SIPRI).
Military and international arms sales increased by 1.3%, while the global economy dropped by more than 3%, according to the Sweden-based institute, which undertakes the field work.
The turnover of the 100 largest arms groups has been growing steadily since 2015: in total, it has reached 17%, according to SIPRI.
Also read: Lockheed wins $10.9B contract to modernise F-22
With the exception of a few Russian (-6.5%) and French (-7.7%) groups, other countries witnessed their companies setting new record sales last year. Lockheed-Martin comes first, with sales of $ 58.2 billion.
The top ten companies in the world ranking are indicative, with American companies in the top 5 and a total of 6 out of 10 places:
- Lockheed-Martin (USA)
- Raytheon (USA)
- Boeing (USA)
- Northrop Grumman (USA)
- General Dynamics (USA)
- BAE Systems (UK)
- Norinco (China)
- AVIC (China)
- CETC (China)
- L3 Harris (USA)
According to the Institute, the fact that the major arms companies overcame the unfavorable 2020 developments is mainly explained by the financial support policies implemented amid the pandemic and the effects of the restrictive measures imposed to mitigate it.
During the pandemic, the defence sector mainly noted problems in the supply chains and delivery schedules, notes SIPRI.
This was the case, according to the report, with Thales, the French company – except Airbus (11th) – in the highest place in the ranking (14th), as due to restrictive measures it saw a 6% turnover drop.
Behind the top 41 US companies and their 54% market share, 26 European companies secured 21% of total sales. Next came Chinese (13% of the total, five companies) and Russian (5%, nine companies) companies.
Source: APA MPA
Also read: Race against time for the participation of the Greek Defence Industry in new armament programs
NEWSLETTER SUBSCRIPTION
Israel War Council | Response to Iran
Israel’s response to Iran’s attack is thought to be a matter of time. Thus, the war council that held a meeting for more…
Operation True Promise | Iran fires dozens of drones against Israel – Launch of ballistic missiles
By firing at least 200 drones in three phases, Iran has launched a direct attack on Israel, in response to the bombing of the Iranian…
Switzerland | Joins German initiative “European Sky Shield Initiative”
The Federal Council in Switzerland approved on Wednesday the country’s participation in the European Sky Shield Initiative air defence…
US Navy | First combat use of SM-3 Missiles
In a historic first, US Navy Arleigh Burke-class destroyers deployed Standard Missile-3 (SM-3) anti-missile interceptors in combat…
INIOCHOS 2024 | Allied fighters foster interoperability
NATO allied Air Forces along with regional partners come together at Andravida Air Base as Greece hosts the…
DEFEA Conference 2024 | Registration is now open
The DEFEA Conference, hosted by the international defence and security exhibition DEFEA – Defence Exhibition Athens…
Delphi Economic Forum IX | Christian Chatziminas on re-industrialization and high technology in entrepreneurship
Mr. Christian Chatziminas, Founder & CEO of THEON GROUP and President of the Hellenic Entrepreneurs Association, participated in…
Lockheed Martin | Introducing the new Mako hypersonic multi-role missile
On the sidelines of the “Sea Air Space – SAS 2024” exhibition, Lockheed Martin unveiled the new Mako hypersonic missile.
Heraklion | Aerial target washes up on beach – Taken for drone from Iran
Yesterday Sunday, intense confusion was caused on a beach in Heraklion, Crete, when an aerial target used in shooting ranges to test…