Chinese arms industry second only to US, report says

Four Chinese arms manufacturers combined for US$56.7 billion in sales in 2019

(Getty Images)

(Getty Images)

TAIPEI (Taiwan News) — China’s arms manufacturing industry worldwide ranks second only to the U.S., according to a report released Sunday (Dec. 6) by a Swedish think tank.

Sweden-based Stockholm International Peace Research Institute (SIPRI) released its annual ranking of the world’s 25 largest arms manufacturing companies, which for the first time included data for individual Chinese defense firms, according to The Wall Street Journal (WSJ). SIPRI found that arms and military services sales for which there were data totaled US$361 billion in 2019, an 8.5 percent increase from 2018.

The four Chinese companies listed were Aviation Industry Corporation of China (AVIC), China Electronics Technology Group Corporation (CETC), China North Industries Group Corporation (NORINCO), and China South Industries Group Corporation (CSGC), which SIPRI ranked 6th, 8th, 9th, and 24th, respectively, according to Reuters. Their combined sales for 2019 came to US$56.7 billion.

SIPRI’s Chinese data, however, lacks sales numbers from missile production and shipbuilding. “Chinese arms companies are benefitting from military modernization programs for the People’s Liberation Army,” SIPRI Senior Researcher Nan Tian said in a statement with the report.

For comparison’s sake, 12 of the top 25 arms manufacturers are U.S. firms, which had combined sales worth US$221.2 billion in 2019. The top five companies on this year’s report were all American — Lockheed Martin, Boeing, Northrup Grumman, Raytheon, and General Dynamics — with combined sales of US$166 billion, Reuters reported.

Updated : 2021-02-27 06:10 GMT+08:00