World’s Top 100 Arms Producing Companies: A SIPRI report states that in 2022, the 100 biggest armament companies in the world sold $597 billion worth of weapons and military services. The Russian invasion of Ukraine and geopolitical unrest fueled a global surge in the demand for weapons.
Among the top 100 producers of weapons are the Indian defence PSUs Hindustan Aeronautics, Bharat Electronics, and Mazagon Docks. Although it is at the top of the list, US revenues decreased by 7.9%. According to TOI, Asian arms companies—including those in China and India—benefited from ongoing government spending on military modernization.
The top 100 arms-producing companies include Hindustan Aeronautics, Bharat Electronics, and Mazagon Docks, three Indian defence public sector enterprises.
Although it is at the top of the list, US revenues decreased by 7.9%. Asian arms companies, including those in China and India, benefited from sustained government investment in military modernization.
World’s Top 100 Arms Producing Companies
In SIPRI’s ‘Top 100’ list, these 3 Indian companies were named:
- Hindustan Aeronautics Limited (HAL)
- Bharat Electronics Limited (BEL)
- Mazagon Docks
The combined arms sales of these six companies grew by 0.4 per cent to reach $17.8 billion in 2021.
HAL was ranked 41st with $3.4 billion in arms sales, BEL 63rd with $1.9 billion and MDL 89th with $1 billion, all three benefitting from the major orders placed by the 14-lakh strong Indian armed forces. But the three together accounted for just a paltry 1% of the $597 billion global arms sales last year
