Monday, April 4, 2011

Arms companies eying crisis-hit nations

Source: Press TV

Arms manufacturers have no worries about their income as they simply capitalize on the volatile situation in crisis-hit countries, a new report says.

Although some countries have slashed their arsenals, arms spending has generally increased, Deutsche Welle reported.

NATO member states, including the United States, flaunt their military prowess in the Middle East just as Iran shows off its warships in the Gulf of Aden.

It is not yet clear which country will send weapons to rebels in Libya, but it goes without saying that Libyan Leader Muammar Gaddafi's regime previously received the best weaponry form France and Italy.

An Austrian business daily reports that since the start of unrest in North Africa shares of arms companies and aircraft manufacturers have grown 8.4 percent in value -- roughly double the figure predicted.

The United States makes the most profit in international arms trade followed by Russia.

Germany, China, Britain and France are among other leading arms exporters in the world.

Italy and the Netherlands are also among the top ten international producers and exporters of munitions.

The most lucrative arms deals in 2010 were signed with India, Pakistan, Australia, South Korea and Singapore. An old customer of Russia, India accounts for nine percent of the global arms purchases.

Leading Western weapons producers include the American companies Lockheed Martin, Boeing, Northrop Grumman, General Dynamics, Raytheon and the British BAE Systems as well as its American subsidiary. They collectively pocket some USD 200 billion dollars in global arms trade.

The European EADS company has a $15 billion revenue, roughly half of Lockheed Martin's earnings.

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