Ukraine ranks 77th in Top 100 military hardware and arms producers
Monitoring Desk: Ukraine ranks 77th in Top 100 military hardware and arms producers while its state-run military industrial concern “Ukroboronprom” has become one of the leading military hardware producers of the world.
According to a report released by UNIAN News agency, sales of Ukrainian companies touched the figure of $1.06 billion now.
Ukrainian aircraft producer Antonov did well and got proportionate share in world market that reported total sale of $374.8 billion during 2016. Arms sales of the Top 100 for 2016 are 38% higher than those for 2002. The growth in arms sales was expected and was driven by the implementation of new national major weapon programs, ongoing military operations in several countries and persistent regional tensions that are leading to an increased demand for weapons.
According to the report, arms sales by U.S.-based companies in the Top 100 rose by 4.0% to $217.2 billion in 2016. With 38 companies ranked in the Top 100 for 2016, the USA accounted for 57.9% of the total Top 100 arms sales. The combined arms sales of the 10 Russian companies listed in the Top 100 reached $26.6 billion in 2016, accounting for 7.1% of the overall total.
It is pertinent to mention that Ukraine is showcasing its hardware in international events to increase its sales.