South Korea leading the rise of emerging producers in the Top 100
Emerging producers and other established producers account for 9.5 per cent of the Top 100 arms sales for 2015 with a combined total of $34.5 billion.* This represents an increase of 3.0 per cent for other established producers compared with 2014 and a rise of 15.9 per cent for emerging producers. The significant growth in emerging producers’ arms sales is mostly attributable to South Korean companies, which increased sales by 31.7 per cent in 2015.
‘All South Korean companies show higher arms sales in 2015, reflecting their growing capacity to meet the South Korean Ministry of Defense’s demand and their ongoing success in the international market,’ says Wezeman. ‘LIG Nex1 increased its arms sales by 34.7 per cent compared with 2014, and Korea Aerospace Industry’s arms sales rose by 51.7 per cent.’ Poongsan (an ammunition and propellant producer), DSME (a shipbuilder) and Hanwha Thales (a weapon systems producer) were new South Korean entrants to the Top 100 in 2015.
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