In this age of technology and competition, no one is unfamiliar with the arms industry. However, still some people have not enough knowledge about it due to society difference. Basically the arm industry is a global business that is manufacturing the weapons and the military technologies and equipment. It is consisted on the commercial industry, which is being involved in the research, production, development, maintenance and the services of military material such as the equipment and other facilities.
Arms producing companies are also known as the defense contractors or the military industries and these are functioning for the armed forces of the nations around the world. Some governments have also appointed some departments just to operate their arms industries. The rapid increase in the military needs have also increased the expenditures of nations in their fiscal budgets. A recent survey made by whichcountry.co has revealed that annually 1.5 trillion dollars are spent on the military expenditures worldwide, which is about 2.7% of world’s entire Gross Domestic Product. Before 1990, this expenditure was 4% of world’s entire GDP.
Different Sectors of the Arms Industry
There are different sectors in which the arm industries are performing their services and production. Such as :
Land Based Weapons
This category is consisted upon every kind of weapons from small to the large-scale. Means from light arms to the heavy artillery guns all the products are made in this sector. However, the majority of producers are not the bigger. A number of producers are the third world nations. While on the other hand, the foreign trade in machine guns, tanks, armored personnel carriers and the handguns are the least expensive weapons that are substantial.
The control arms campaign made research during the year of 2003, which revealed that there are almost 639 million small arms being circulated throughout the world.
Encompassing military aircraft in which both the land based and the naval aviation are included. In addition, the conventional missiles and the armed satellites are also prepared in this department.
Which country has the most military expenditure?
The nations, which are considered the major powers, always give the priority to maintain the substantial maritime forces for the providence of their global presence. The major defense countries have the highest amount of fighting aircraft, nuclear submarines and mulch-featured anti-air defense systems.
Do you know which country is spending most on its military? US has highest military expenditure than all other countries around the globe. military expenditure during 2011 was estimated about $1.74 trillion. Following is a list of top ten nations having the heaviest defense budget until 2011.
Top 10 Countries with Highest Military Expenditure
Military spending has dropped during 2012, which is perhaps amazing for the USA and Europe. Following graph is showing the top spenders by value, regional military spending and the top spenders by the percentage of their Gross Domestic Product.
Which Country is the Largest Arms exporter around the world?
Which Country Sells the Most Arms and considered to be the largest weapons exporter around the world?
Being the largest arm producer in the world, United States is also the biggest arms exporter in the world. Following is a statistical table indicating the volume of arms transferring transactions with the other nations around the globe. This table includes the data from 2008-2012.
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