Left Menu
Development News Edition

China has world's second-largest arms industry, think tank estimates


China has world's second-largest arms industry, think tank estimates
Representative Image Image Credit: Flickr

Newly available data suggests that China is the world's second-biggest arms producer, behind the United States and ahead of Russia, a leading conflict and armaments think-tank said on Monday. A lack of transparency means the Stockholm International Peace Research Institute has excluded China from its annual global rankings of arms makers, but it said credible financial information had become available for four major companies.

The data, covering the period from 2015 to 2017, allowed it to compile what is called the most comprehensive picture of Chinese companies' weapons production to date. "With the increase of available data on these companies, it is now possible to develop reasonably reliable estimates of the scale of the Chinese arms industry," the institute said.

The four companies had combined estimated arms sales of $54.1 billion for 2017, it said, which would put them among the top 20 arms producers in the world. "Three of the companies would be ranked in the top 10."

Total U.S. arms sales in 2017 were $226.6 billion, and in Russia, $37.7 billion, according to the think tank's Top 100 list for that year. Aircraft and avionics group Aviation Industry Corporation of China (AVIC) would rank as the sixth-largest arms producer, with estimated 2017 sales of $20.1, while land systems-focused China North Industries Group Corporation (NORINCO) would place eighth with an estimated $17.2 billion in sales, the institute said.

The other two companies it looked at, China Electronics Technology Group Corporation (CETC) and China South Industries Group Corporation (CSGC), had estimated sales of $12.2 billion and $4.6 billion, respectively, a spokesperson for the institute said. China's foreign and defense ministries did not respond to faxed requests for comment during a public holiday. Calls to AVIC, NORINCO, and CSGC went unanswered and China Electronics Technology Group (CETC) declined to comment.

The Sweden-based think tank has said global expenditure in 2018 hit $1.8 trillion, its highest level since the end of the Cold War, fuelled by increased spending in the United States and China. U.S. arms sales that year were $246 billion, Russia's were $36.2 billion and the United Kingdom had $35.1 billion in sales, it said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Future of Food: Technology fostering the road to global food security

Technological innovation can help address most of the pressing issues facing the world today including food security by enhancing productivity, improving financial services, managing resources, addressing environmental concerns, etc....

Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Now it’s a war, Uganda deploys army to combat locust swarms

Its for the first time after 1986, the locust swarms have attacked Uganda twice in a season. With the increasing number of countries of Africa under attack by locust swarms, the problem seems to have taken a regional paradigm. Its very diff...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Videos

Latest News

People News Roundup: Prince Harry will stop using Royal brand; Tell Prince Andrew to call FBI says a message on U.S-style bus and more

Following is a summary of current people news briefs.Prince Harry and his wife will stop using Sussex Royal brand BBCPrince Harry and his wife Meghan have decided not to use the word royal in their branding after they abruptly decided to st...

Man dead, wife, sister injured as car falls into gorge in Shimla

A 36-year-old man was killed and his two family members were injured as their car fell into a gorge in Himachal Pradeshs Shimla district on Sunday, the police said. The incident took place at Kariyal Ghat village near Mundaghat, Superintend...

UP Guv, CM Yogi to welcome Prez Trump at airport in Agra: DM

US President Donald Trump will be welcomed by Uttar Pradesh Governor Anandiben Patel and Chief Minister Yogi Adityanath on his arrival at the airport in Agra where hundreds of artistes will perform, a top official said on Sunday.The city ha...

Health News Roundup: The world must act fast to contain coronavirus; Japan govt faces questions over coronavirus and more

Following is a summary of current health news briefs.Chinas Hubei province revises February 19 new cases tally to 775, from 349 previouslyChinas Hubei province, the epicenter of the coronavirus outbreak, on Friday revised the number of new ...

Give Feedback