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SIPRI Report: 4 Indian PSUs featured in world’s top 100 arms producers, US tops
SIPRI Report: 4 Indian PSUs featured in world’s top 100 arms producers, US tops: Details, Rankings, Highlights
According to the Stockholm International Peace Research Institute (SIPRI) recently released rankings four Indian Public Sector Undertakings among world’s top 100 arms producers.
These companies are as follows:
1. Indian Ordnance Factories (37th Rank)
2. Hindustan Aeronautics (38th Rank)
3. Bharat Electronics (64th Rank)
4. Bharat Dynamics (94th rank)
It was for the first time that 4 Indian companies have ranked in top 100 arms producers companies of the world. These four companies have sold arms worth USD 7.52 Billion in 2017.
India’s current share in total global arms sales stands at less than 2%. This indicates that India has been a weak player in international markets. The successive government has tried to turn India into a global defence manufacturing hub and take multiple policy steps to involve the private sector in defense production. However, most of such measures have been on papers only till now.
World Top Arm Producers
Global arms market is dominated by the United States companies which have a whopping 57% of the market share, followed by Russia (9.5%), United Kingdom (9%) and France (5.3%).
As of 2017, Lockheed Martin is the world’s largest arms with arms sales of $ 44.9 billion. Boeing is the second largest arms producer company in the world.
About SIPRI
SIPRI was established in 1966, it is a Swedish think tank dedicated to research into conflict, armaments, arms contr, l and disarmament.
SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
