Overall arms sales have increased for the first time in five years, totaling $374.8 billion in 2016, a research by the Stockholm International Peace Research Institute (SIPRI) shows, with the US Lockheed Martin topping the list, Boeing and Raytheon placed second and third respectively and the UK BAE Systems in fourth place.
"The total for the SIPRI Top 100 in 2016 is 1.9 percent higher compared with 2015 and represents an increase of 38 percent since 2002 (when SIPRI began reporting corporate arms sales)," the research reads.
The study's results have also shown that sales of Russian companies rose in 2016, noting, however, that the growth in deals being made in the country had slowed down amid the economic situation in the country.
"The combined arms sales of Russian companies listed in the SIPRI Top 100 increased by 3.8 percent, amounting to $26.6 billion in 2016. Russian companies accounted for 7.1 percent of the overall total…The major economic difficulties experienced by Russia in 2016 have contributed to a slowdown in the rate of increase in the arms sales of Russian companies," Siemon Wezeman was quoted as saying in the statement.
Russia's United Aircraft Corporation (UAE), the producer of the MiG-29 fourth-generation Russian multipurpose fighter, which had been put under the US anti-Russia sanctions, has improved its position and became 13th in the list compared to the 17th place in 2015.
The United Shipbuilding Corporation (USC), on the contrary, went down from 15th place to 19th. Russian Almaz-Antey Corporation moved to the 24th place from 26th in 2015, replacing Russian Helicopters, which dropped to 29th place.