Think tank: Sales-growth for arms vendors slows

AP News
Posted: Feb 26, 2012 6:08 PM
Think tank: Sales-growth for arms vendors slows

A peace research group says the sales growth for the world's 100 largest arms producers slowed down to 1 percent in 2010 as foreign forces were withdrawing from Iraq.

Comparable arms sales rose by 4 percent in 2009 and more than 10 percent the year before that.

The Stockholm International Peace Research Institute's annual statistics on the arms industry were released Monday. They showed U.S.-based Lockheed Martin remained the biggest arms vendor in 2010, with sales of $35.73 billion, ahead of Britain's BAE Systems and Boeing.

SIPRI arms industry expert Susan Jackson said the drawdown in Iraq mainly affected arms producers that provide military services such as system support, training, repair and logistics. She said the financial crisis didn't have a major impact on military budgets in 2010.

Here's SIPRI's list of the top 10 arms vendors in 2010:

1. Lockheed Martin, U.S, $35.73 billion.

2. BAE Systems, Britain, $32.88 billion.

3. Boeing, U.S., $31.36 billion.

4. Northrop Grumman, U.S., $28.15 billion.

5. General Dynamics, U.S., $23.94 billion.

6. Raytheon, U.S., $22.98 billion.

7. EADS, Trans-European, $16.36 billion.

8. Finmeccanica, Italy, $14.41 billion.

9. L-3 Communications, U.S., $13.07 billion.

10. United Technologies, U.S., $11.41 billion.