US, China dominated arms market in 2019: SIPRI

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News: Stockholm International Peace Research Institute(SIPRI) has released a report on the global arms market.

Facts:

Key Takeaways:

  • The total sales by the Top 25 arms manufacturers rose by 8.5% to $361 billion or 50 times the annual budget of the UN’s peacekeeping operations.
  • S and Chinese companies dominated the global arms market in 2019 with American firms accounting for 61% of sales ahead of China’s 15.7%.
  • For the first time, West Asia made its appearance among the 25 biggest weapons manufacturers.

Additional Facts:

  • SIPRI: It is an independent international institute established in 1966 in Stockholm, Sweden.It is dedicated to research into conflict, armaments, arms control and disarmament.
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