July 23, 2023, 9:09 pm
Weapons export is one of the key sources of revenue for Russia. Russia’s arms industry consists of some 1,300 companies employing about two million people.
Russia accounts for nearly 19% of worldwide weapons shipments
Russia has consistently been second only to the US in arms export from 1992 to 2021 ,with France topping it once in 1998,
But unfortunately for Russia, this has seen a decline.
According to the latest Stockholm International Peace Research Institute (SIPRI) report titled, ‘Trends in International Arms Transfers’, Russian arms export fell by 26% between 2012 and 2016 followed by a steep fall in its global share from 24% to 19% between 2017 and 2021.
On 24 February 2022, Russia launched the military invasion of Ukraine, the same year, Frances seem to have consolidated its position as the number two arms exporter in the world displacing Russia for the second consecutive year.
2011 was the high-water mark for the Russian arms industry when it nearly matched the U.S. and deliveries were made to 35 different countries.
From that point to 11 years later, in 2022, it fell about 70%, with deliveries to just 12 countries.
While the decline is evident, the conflict in Ukraine is expected to accelerate this.
In this video Defense Updates analyses how Ukraine War could be the death knell for the Russian military-industrial complex?
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► Narration by Scott Leffler (scottleffler.com)
🎵 Background Music courtesy of incompetech.com
"Giant Wyrm" Kevin MacLeod (Licensed under Creative Commons)
Content Creator – Defense Updates
