US firms dominate global arms sales, Russian firms advance: report

Global sales of military equipment and services by the world's top 100 arms groups in 2017 totalled 398 billion dollars, a Swedish-based research institute said on Monday.

It was the third consecutive year that sales increased, the Stockholm International Peace Research Institute (SIPRI) said.

Defence firms in the United States accounted for well over half of the total sales in 2017, the most recent year covered by the think tank.

The combined sales of the 42 US companies totalled 226 billion dollars, an increase of 2 per cent on 2016. SIPRI cited ongoing US defence department procurements as a factor.

Sales by Russian defence companies also increased. Combined sales of the 10 Russian firms on the top 100 list accounted for almost 10 per cent of global sales. They overtook British-based firms for second place.

Of the top 100 global defence companies, 68 were based in the US and Western Europe. They accounted for about 80 per cent of global sales in 2017, SIPRI estimated.

Lockheed Martin - one of the 42 US companies on the list - remained the world's largest arms seller with sales of 44.9 billion dollars, an increase of 8 per cent compared to 2016.

Created in 1966 by the Swedish parliament, SIPRI tracks military spending and arms transfers.