France has overtaken Russia as the world's second-largest arms exporter, according to a new report by the Stockholm International Peace Research Institute (SIPRI).
The report, published today, reveals a significant shift in the global arms trade. France's international arms sales soared by 47% between 2019-2023 compared to 2014-2018, propelling it past Russia. Conversely, Russia's exports plummeted by a dramatic 53% in the same period, likely due to international sanctions.
The US remains the undisputed leader, with its arms sales increasing by 17% and now accounting for a staggering 42% of the global market. France follows closely behind with 10.92% of the share, while Russia trails at 10.54%. China and Germany round out the top five, holding 5.8% and 5.6% of the market respectively. Combined, these top five exporters control a whopping 75% of all international arms sales.
SIPRI attributes France's rise to a more active international sales strategy. The report highlights that countries purchasing French weapons are drawn to the opportunities for military and industrial cooperation. Additionally, French arms are exempt from US regulations on arms sales (ITAR-free), offering another advantage to potential buyers.
(Source: Amna)
