Today security has become the biggest issue in the world. Due to wars, border disputes and geopolitical tensions, almost every country is increasing its military budget. This has had a direct impact on the global arms market. The report of Stockholm International Peace Research Institute i.e. SIPRI shows that in the last few years the arms trade has been limited to a few countries. According to the report, between 2018 and 2022, about three-fourths of the world’s total arms exports came from only 5 countries.
The latest report of SIPRI clearly shows that America is currently the world’s largest arms exporter. Between 2020 and 2024, America’s share in the global arms market was about 43 percent. This figure in itself shows how big a military industrial power America has become. Fighter jets, missile systems, drones and advanced technology weapons are sent from America to countries around the world. Companies like Lockheed Martin and Boeing are considered the backbone of this export. Another big advantage of America is that it provides both military assistance and technology to its allied countries.
France rises to second place leaving Russia behind
France has made big leaps in the field of arms exports in recent years. According to SIPRI, France has now become the world’s second largest arms exporter and its global share is about 11 percent. Rafale fighter jet has emerged as France’s biggest force. The major contribution of 36 Rafale aircraft purchased by India is visible in the export figures of France. Apart from this, Egypt, Qatar and many Asian countries have also shown interest in French weapons.
Russia’s falling grip effect of war
Russia, once considered America’s biggest rival in the arms market, has now slipped to third place. Its global share has come down to about 7 to 8 percent. According to SIPRI, there has been a huge decline of about 64 percent in Russia’s arms exports. After the Ukraine war, Russia had to use its weapons for itself. Besides, international sanctions and supply chain problems also weakened its exports.
China ranks fourth on the basis of cheap weapons
China remains at fourth place in terms of arms exports. His stake is said to be around 5.8 percent. However, a slight decline in China’s exports has also been recorded in recent years. Pakistan is China’s biggest arms buyer and a major part of Chinese arms goes there. Due to low prices and easy terms, many developing countries of Africa and Asia buy arms from China.
The increasing role of Germany, Turkey and Italy
Germany ranks fifth in arms exports, while Italy and Turkey are fast becoming emerging players. Especially Turkey has attracted the world’s attention in drone technology. Italy’s arms exports have also seen a tremendous increase in recent years.
from importer to exporter
India has been the world’s largest arms importer for a long time, but now the picture is changing. Today India is exporting defense equipment and weapons to about 100 countries. Countries like America, France and Armenia are buying Indian defense products. Make in India and Self-reliant India campaign has given a new direction to India’s defense exports. Both government and private companies are now strengthening India’s identity in the global arms market.
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