Current Affairs - International - Discussion

The Stockholm International Peace Research Institute (SIPRI) released its report on the world's 100 biggest armaments groups and said that Russia has emerged as the world's second-largest arms producer after the U.S. Russia surpassed Britain, which had held the spot since 2002 and remains Western Europe's No. 1 arms maker. The report stated that the combined arm sales of Russian companies recorded 8.5 % year-on-year growth and amounted to$37.7 billion in 2017.Russia's sales accounted for 9.5 percent of a worldwide total of $398.2 billion. The U.S. topped the list with 42 companies accounting for 57 % of total sales, including the world's largest arms producer, Lockheed Martin Corp. The SIPRI's report doesn't include Chinese companies because of unreliable statistics.