The worldwide arms trade is a vast industry, worth billions of dollars every year. The rise in weapons trade has been mostly affected by emerging economies and territorial conflicts throughout the years. Weapons experts have long been a priority for industrialized countries.
Improved technology has resulted in the development of high-tech arsenals that may be sold to nations that lack the money and ability to create their own. The United States and Russia are responsible for more than half of all global arms exports.
The World’s Largest Arms Exporters
United States of America
The United States is the world’s leading arms exporter. The United States has some of the best weapons manufacturing businesses due to characteristics such as size and capability.
The United States’ top two military contractors are rated first in the world. Lockheed Martin Corporation and Boeing are their names. Arms exports from the United States produced $47.1 billion in revenue.
The main consumer of US arsenals was Saudi Arabia (10%), followed by Australia and the United Arab Emirates.
Russia is the world’s second-largest weaponry exporter. Following the disintegration of the Soviet Union, Russia began to strengthen its military and spend extensively on defense.
Almaz-Antey, United Aircraft, and Tactical Missiles Corporation are the leading manufacturing businesses in Russia.
The industry employs 20% of the employees in the manufacturing sector. Russia has carved out a niche for itself in the global market by developing low-cost high-tech weapons.
In recent years, China has enjoyed remarkable economic development and has made significant investments to improve its military defense capabilities.
The majority of China’s businesses are state-owned. China North Industries Corp. is the country’s most prolific arsenal maker, with Aviation Industry Corp. coming in second.
Countries that lack the financial means to purchase advanced weaponry from the United States or Russia are looking to China as an option. China provides modern weaponry at a reduced cost.
France is the fourth greatest exporter of weaponry in the world. The French government has stakes in major corporations like Airbus and Thales. These businesses benefit from a wide range of skills. They have the ability to create weaponry for use in the air, sea, and land.
As a result of this, France has positioned itself as a producer of highly specialized machinery. Saudi Arabia, the United Arab Emirates, Singapore, and Australia are the primary destinations for its exports.
Germany, the United Kingdom, Spain, and Italy are among the other leading nations in terms of worldwide weapons exports. The export of guns is governed by local regulations in these nations.
The Industry’s Regulation
Germany has a legislative ban on weapons being brought to the country if they are likely to be used for human rights violations. The US Departments of State, Commerce, and Treasury all require prospective exporters to apply for export permits.
To limit the export of weaponry, international conventions such as the Arms Trade Treaty have been established. The European Union has developed legislation to manage the nations in its vicinity via the EU Common Position on Arms Export Control.
However, there has been a request for a global golden rule prohibiting the transfer of armaments that may be used to violate human rights.