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Russia's Arms Orders Reach Peak, Expected to Stand at Some $50Bln

© AFP 2021 / MANJUNATH KIRANA Sukhoi Su-30MKI combat aircraft of the Indian Air Force takes off during an aerial display at Yelahanka Air Force Station on the inaugural day of the 11th edition of 'Aero India', a biennial air show and aviation exhibition, in Bangalore on February 14, 2017
A Sukhoi Su-30MKI combat aircraft of the Indian Air Force takes off during an aerial display at Yelahanka Air Force Station on the inaugural day of the 11th edition of 'Aero India', a biennial air show and aviation exhibition, in Bangalore on February 14, 2017 - Sputnik International
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Russia's arms export orders have reached a peak and are expected to stand at $48-50 billion in the next few years.

MOSCOW (Sputnik) — Russia's arms order export portfolio will stand at $48-50 billion in the coming years, while annual exports of arms will amount to about $15 billion, the head of Russia's Federal Service for Military-Technical Cooperation (FSMTC) said.

"According to expert estimates, Russia has reached a certain peak in the volume of export orders, which will remain at a consistently high level of $48-50 billion in the next few years. This makes it possible to forecast the volume of export deliveries for the next few years at the level of about $15 billion, which in turn will allow our country to confidently retain the second place among the world's largest exporters of military products," FSMTC Director Dmitry Shugaev said in an interview with National Defense magazine.

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According to Shugaev, in the area of defense industry cooperation Russia maintains relations with over 100 countries, with India being one of the largest partners.

"All types of Russian-made military equipment — land, sea and air — are widely represented in the Indian Armed Forces. Today, India accounts for more than 15 percent of Russia's export orders portfolio in the area of military-technical cooperation. The Republic of India has traditionally been one of the largest buyers of Russian arms and military equipment, not only in the Asia-Pacific region, but also globally," Shugaev added.

In late July, Russia's Rosoboronexport state arms exporter Deputy Director General Sergey Goreslavsky said that the current portfolio of foreign arms contracts amounts to $45 billion.

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