China overtook Russia to become the world’s No. 2 arms producer between 2015 and 2019, according to data released by the Stockholm International Peace Research Institute (SIPRI) last month. The US continues to be in Number 1 position.
Four Chinese defense companies featured among the top 25 arms manufacturers in 2019. Of these, three companies featured in the top 10 positions, accounting for 16% of overall arms sales, with profits surpassing $56.7 billion.
Only two Russian defense companies could make it to the top 25, accounting for below 4% of the total, earning only $13.9 billion.
The four Chinese arms manufacturers which figured in the list included the Aviation Industry Corporation of China (6th), China Electronics Technology Group Corporation (8th), and China North Industries Group Corporation (9th).
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