Context:
3 Indian firms on SIPRI’s list of the world’s 100 largest arms producers.
Highlights of 2024 Report:
- Total Revenue – The combined arms revenues of the world’s largest arms-producing and military services companies (the SIPRI Top 100) increased by 4.2% in 2023, reaching $632 billion.
- The total arms revenues of the Top 100 grew by 19% between 2015 and 2023.
- Performance of Indian Companies –
- 3 Indian companies, Hindustan Aeronautics Limited (Rank 43), Bharat Electronics Limited (Rank 67), and Mazagon Dock Shipbuilders Ltd (Rank 94), have been listed among the Top 100 global arms producers.
- Their combined revenues increased by 5.8%, from USD 6.37 billion in 2022 to USD 6.74 billion (Rs 56,769 crore) in 2023.
- Major Global Producers –
- United States: The 41 US companies in the Top 100 earned USD 317 billion in 2023, accounting for half of the global arms revenues. The top 5 producers are all US-based.
- China: The 9 Chinese companies in the Top 100 recorded a total revenue of USD 103 billion in 2023.
- Russia: The arms revenues of the 2 Russian companies for which data was available increased by 40% to an estimated USD 25.5 billion, driven by a significant rise in orders and production.
- Regional Highlights – Arms revenue growth was observed in all regions globally, with particularly sharp increases among companies based in Russia and the Middle East (West Asia).
- Reasons for Arms Revenue Growth – The increased demand for arms was driven by conflicts in Gaza and Ukraine, rising tensions in East Asia, and expanded rearmament programs worldwide.
- Smaller arms producers were more efficient in responding to the heightened demand from conflict zones.
Stockholm International Peace Research Institute (SIPRI)
- Established in 1966
- An independent international institute dedicated to research into conflict, armaments, arms control and disarmament.
- Function – Provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
Source: BS
Previous Year Question
What is/are the consequence/consequences of a country becoming a member of the ‘Nuclear Suppliers Group’?
1. It will have access to the latest and most efficient nuclear technologies.
2. It automatically becomes a member of “The Treaty on the Non-proliferation of Nuclear Weapons (NPT)”.
Which of the statements given above is/are correct?
[UPSC Civil Service Exam – 2018 Prelims]
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (a)
Explanation:
Statement 2 is incorrect. A country becoming a member of the Treaty on the Non-proliferation of Nuclear Weapons (NPT) becomes a member of ‘Nuclear Suppliers Group.