The demand for military equipment has significantly increased in recent years because of political instability and security complexities in various regions around the world. Powerful nations are expanding their defense budgets, and arms-exporting countries are seizing this opportunity. Countries like the United States, France, Russia, and China dominate the global arms market. Sweden-based research organisation Stockholm International Peace Research Institute (SIPRI) compiled a list of the top arms-exporting countries in the world from 2020 to 2024. The top 10 countries from that list are presented below.
The United States is the world’s largest arms exporter, accounting for 43 per cent of global arms exports annually. On average, the US exports around $150 billion worth of weapons each year. Major importers of American arms include Saudi Arabia, Ukraine, Japan, Australia, South Korea, and Poland. The country's export military items include advanced fighter jets (F-35, F-16), air defence systems, drones, missiles, helicopters, and tanks. The US arms industry is highly technology-driven and in high demand worldwide.
Currently, France is the second-largest arms exporter in the world, contributing 9.6 per cent to global arms exports. It exports an average of $50 to $60 billion worth of weapons annually. Major buyers of French arms include India, Qatar, and Greece. The country exports a variety of military equipment such as Rafale fighter jets, submarines, frigates, missiles, and helicopters.
Russia shares a 7.8 per cent of global arms exports. Its exports have declined in recent years due to the war with Ukraine and Western sanctions. On average, Russia exports around $40 billion worth of weapons annually. India, China, and Kazakhstan are the main importers of the Russian weapons. Russia exports include S-400 and S-300 air defense systems, Sukhoi and MiG fighter jets, tanks, and artillery systems.
China accounts for 5.9 per cent of global arms exports, with annual exports averaging $20 billion. Pakistan, Serbia, and Thailand are the major importers of Chinese weapons. China exports light fighter jets (JF-17, J-10), drones, frigates, artillery, and rocket systems. China supplies weapons at relatively lower prices in order to increase strategic influence.
Germany contributes 5.6 per cent to the global arms market and exports about $15 billion worth of weapons annually. Its main buyers include Ukraine, Egypt, and Israel. German military products such as the Leopard tank, Type-212 submarine, artillery, and armoured vehicles are popular across the world. The country focuses on technologically advanced and durable military hardware.
Italy holds a 4.8 per cent share in global arms exports, exporting about $8 billion worth of weapons annually. Its major importers include Qatar, Egypt, and Kuwait. Italy exports helicopters, frigates, missile systems, and air defense technologies.
The UK accounts for 3.6 per cent of global arms exports, with about $5 billion in annual exports. Its main buyers are Qatar, US, and Ukraine. The UK supplies Typhoon fighter jets, warships, sensors, radars, and drones. BAE Systems is the leading British defence manufacturer in this sector.
Israel holds a 3.1 per cent share of the global arms export market. Major buyers of Israeli weapons include India, US, and the Philippines. Israel exports air defense systems (like Iron Dome), drones, surveillance technology, and missiles. Israeli weapons are highly valued worldwide because of being tested in real battlefields.
Spain accounts for 3 per cent of global arms exports. Its primary buyers are Saudi Arabia, Australia, and Turkey. Spanish military products like naval warships, helicopters, training aircraft, and light arms have a strong demand in the international market.
South Korea holds a 2.2 per cent share in global arms exports. Its main buyers are Poland, the Philippines, and India. South Korea exports K-9 howitzers, light tanks, air defense systems, and frigates. South Korea has emerged as a competitive force in the global arms market in a very short time.