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The Indian defence seems to be dealing with a significant slowdown as the combined sales of three public sector defence companies have dropped by 6.9 per cent at $5.9 billion in 2018 despite the fact that global weapons sales have risen over the period, a Swedish think tank said in its report.
The Hindustan Aeronautics Limited (HAL), Indian Ordnance Factories and Bharat Electronics Limited feature in the top 100 global arms firms list of the Stockholm International Peace Research Institute (SIPRI). They are at present ranked at 38, 56 and 62, respectively.
All three together accounted for arms sales of 1.4 per cent among the top 100 companies.
“All three are state-owned and are almost entirely dependent on domestic demand. Arms sales by Hindustan Aeronautics and Bharat Electronics increased in 2018 by 3.5 and 5.9 per cent, respectively. However, these increases were offset by a 27 per cent fall in the arms sales of Indian Ordnance Factories... The decrease was because of a reduction in orders from the Indian Army,” news agency PTI quoted the report as saying.
The aggregate arms sales of the Indian companies stood at $5.9 billion in 2018, a drop of 6.9 per cent from 2017. The slide is primarily due to the significant drop of 27 per cent in Indian Ordnance Factory’s arms sales.
Sales figure by the 100 companies, excluding China, stood at $420 billion in 2018, a spike of 4.6 per cent against the previous year, SIPRI said. As many as 80 of these 100 in the 2018 list were based out of the United States, Europe and Russia. From the remaining 20, six were in Japan, three each in Israel, India and South Korea, while two were from Turkey and one each in Australia, Canada and Singapore.
The SIPRI Arms Industry Database data states that sale of arms and military services in the 100 companies spiked by 47 per cent since 2002. The database, however, excludes China owing to a lack of data in order to make reliable estimates.
The arms sale figures of the Israeli companies stood at $8.7 billion, or 2.1 per cent of the top 100. Elbit Systems, Israel Aerospace Industries and Rafael, all increased their sales in 2018.
The report states that for the first time since 2002, the top five spots are held exclusively by US-based arms companies – Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics. Just these five companies have in total accounted for a staggering $148 billion-worth sales in 2018, at 35 per cent of the aggregate.
https://south-asian-monitor.com/en/defence/arms-sales-of-top-3-indian-defence-companies-slump-by-69
https://economictimes.indiatimes.co...er-cent-sipri-report/articleshow/72452138.cms
https://www.timesnownews.com/india/...-slump-by-6-9-swedish-think-tank-sipri/525307
The Hindustan Aeronautics Limited (HAL), Indian Ordnance Factories and Bharat Electronics Limited feature in the top 100 global arms firms list of the Stockholm International Peace Research Institute (SIPRI). They are at present ranked at 38, 56 and 62, respectively.
All three together accounted for arms sales of 1.4 per cent among the top 100 companies.
“All three are state-owned and are almost entirely dependent on domestic demand. Arms sales by Hindustan Aeronautics and Bharat Electronics increased in 2018 by 3.5 and 5.9 per cent, respectively. However, these increases were offset by a 27 per cent fall in the arms sales of Indian Ordnance Factories... The decrease was because of a reduction in orders from the Indian Army,” news agency PTI quoted the report as saying.
The aggregate arms sales of the Indian companies stood at $5.9 billion in 2018, a drop of 6.9 per cent from 2017. The slide is primarily due to the significant drop of 27 per cent in Indian Ordnance Factory’s arms sales.
Sales figure by the 100 companies, excluding China, stood at $420 billion in 2018, a spike of 4.6 per cent against the previous year, SIPRI said. As many as 80 of these 100 in the 2018 list were based out of the United States, Europe and Russia. From the remaining 20, six were in Japan, three each in Israel, India and South Korea, while two were from Turkey and one each in Australia, Canada and Singapore.
The SIPRI Arms Industry Database data states that sale of arms and military services in the 100 companies spiked by 47 per cent since 2002. The database, however, excludes China owing to a lack of data in order to make reliable estimates.
The arms sale figures of the Israeli companies stood at $8.7 billion, or 2.1 per cent of the top 100. Elbit Systems, Israel Aerospace Industries and Rafael, all increased their sales in 2018.
The report states that for the first time since 2002, the top five spots are held exclusively by US-based arms companies – Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics. Just these five companies have in total accounted for a staggering $148 billion-worth sales in 2018, at 35 per cent of the aggregate.
https://south-asian-monitor.com/en/defence/arms-sales-of-top-3-indian-defence-companies-slump-by-69
https://economictimes.indiatimes.co...er-cent-sipri-report/articleshow/72452138.cms
https://www.timesnownews.com/india/...-slump-by-6-9-swedish-think-tank-sipri/525307
