July 20, 2024

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Armed heroes were saved by the economic crisis of COVID-19

Armed heroes were saved by the economic crisis of COVID-19

Global arms giants have been largely saved from the effects of last year’s COVID-19 economic crisis, with a new sales record for the sixth year in a row.

According to a report by the Stockholm International Peace Research Institute (SIPRI), the revenue of the 100 largest groups in the defense sector will reach a new peak of $ 531 billion (47 470 billion) by 2020, with more than half of US companies released on Monday.

This represents a 1.3% year-over-year increase in sales of their weapons and military services, while the Swedish-based research firm points out that the world economy has fallen by more than 3%. .

According to Sibri, the turnover of the 100 largest armed groups has been steadily increasing since 2015, with a total increase of 17%.

Growth was weak in 2020, however, with sales of the top 100 rising by 6.7% over 2019.

With the exception of Russian companies (-6.5% sales) and French (-7.7%), other major countries saw their largest companies grow last year.

Five U.S. giants regain monopoly world rankings: Lockheed-Martin (F-35 fighter jets, missiles …) consolidated their first place with $ 58.2 billion in arms sales, while Radeon Technologies took new second place. Link, then Boeing, Northrop Krumman and General Dynamics.

The UK is the first European (6th) with PAE Systems Airbus (11th). Chinese Norinco (7th) Avic (8th) and CETC (9th) and American L3Harris (10th) finished in the top 10.

According to the Institute, the good resistance of large corporations to the difficult economic situation in 2020 is explained by the pro-budget policies, especially in the face of the effects of epidemics and locks.

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Sibri underscores that the sector is “largely protected by governments’ continued demands for military equipment.”

The arms market, characterized by orders spread over many years, is less sensitive to economic fluctuations.

But the Department of Defense is not entirely opposed to COVID-19, especially on the industrial side. “In many cases, measures taken to control the virus have disrupted the supply chain and delayed deliveries,” Cipri said.

Excluding Airbus – the case report of Thales, the leading French company in the rankings (14th), citing a 6% drop in its 2020 turnover.

Supply logistics problems have escalated in 2021, and this year “these difficulties are likely to be reflected in their sales”, for example Lockheed Martin underscores AFP Lucy Ferret-Sutrove, who is responsible for pursuing military spending in Cyprus. .

Behind the 41 American companies in the top 100 and their 54% stake, 26 European companies captured 21% of total sales. China (13% of total, with five companies) and Russia (5%, nine companies) follow.

Separately from European countries, China is second only to Russia (nine companies, 5%) and France (six companies, 4.7%), and the United Kingdom is third (seven companies, 7.1%).

“China’s progress as a major arms manufacturer is driven by its desire to be self – sufficient in its production and by the ambitious modernization plans of its forces,” Sibri underlined.

The top 100 companies appearing in the world are in about fifteen countries: Japan (5), Germany and South Korea (4), Israel and India (3), Italy (2) as well as Canada, Singapore, Turkey, Sweden, Poland, Spain, Ukraine and United Arab Emirates (1).

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Many groups with civilian operations, such as Boeing or Airbus, only record their military sales by Cyprian.