U.S Companies still dominate the global market despite dropping in ratings and numbers. U.S Companies sold $209.7 billion worth of military arms last year according to sources. On the other note, both European and Asian arms have been slowly rising silently trying to beat the U.S market.
According to CNN, US sales in arms have been dropping due to the spending caps the government imposed. Aude Fleurant, the director of Arms and Military Expenditure Program said that there is still limitations in the Military spendings but on the money side it has no problems.
Russian Sales have grew tremendously over the years from 2013 to until 2016, it is still in the increasing side of things. Russia has recently been investing in high grade, heavy quality upgrades to its military system and program, with Vladimir Putin supporting the Russian military, he plans to spend more than $700 billion in bringing the equipment until 2025.
On the other hand, European defense companies have been on the rise when talking about arms sales. Big deals with middle eastern countries and having the right people in the company provided boosts on sales by the most 13%.
In the eastern side of the world, China has been a mammoth when it comes to selling weapons to the rest of the world. One time it soared to an 88% rate from 2006-2010 and 2011-2015, meaning it could have increased more than five folds in data.
Another would be South Korea with sales jump to 32% last year, the sales came from the national governement of South Korea. In Turkey and India, same thing, an increase of sales at around 10% last year, this happen with the domestic demand of fire power and defense the nation needs.
Countries have been on the increasing side of arms sales while the U.S have been declining yet the U.S still dominate the global market. For more of the latest news and updates stay tuned to Jobs & Hire.