Global sales of weapons and military services have risen for the first time in five years, helped in part by an increase in sales by British companies.
Weapons – many of which are fuelling deadly conflicts in the Middle East – are now being bought and sold at the highest level since 2010, with sales up more than a third (38 per cent) since 2002.
Military kit worth $374.8bn (£280bn) was sold in 2016 by the industry’s top 100 companies, an annual review by the Stockholm International Peace Research Institute (Sipri) found.
The findings came as UK firm BAE Systems signed a $6.7bn deal with Qatar to buy 24 Typhoon fighter jets.
British arms sales rose 2 per cent last year and now amount to almost 10 per cent of global sales, researchers found.
Germany’s arms sales jumped 6.6 per cent while South Korean companies notched up 20 per cent more sales than a year earlier. …
Sales by Lockheed Martin – the world’s largest arms producer – rose by 10.7 per cent in 2016, the report found, linked to the sale of F-35 combat aircraft.
UK sales of arms and military kit to the Saudis reached £1.1bn in the first half of 2017.
Meanwhile, the US Defense Security Cooperation Agency, which implements foreign arms sales, announced sales of $41.93bn for the year to the end of September, a 25 per cent rise on the previous 12 months.
Global arms sales increase for first time since 2010