The Stockholm International Peace Research Institute’s report showed that China’s share of the global arms market rose by 143 per cent from 2010 to 2014, taking its total share to five per cent.
The world’s two largest exporters: the US accounts for 31 per cent of the share of global exports, while Russia holds 27 per cent. China’s 5 percent of the market remains small compared to the combined 58 percent of exports from the US and Russia
China overtook Germany and France in this period, where exports dropped by 43 per and 27 per cent respectively. China supplies weapons to 35 countries, led by Pakistan, Bangladesh and Myanmar. China also offers leading-edge drone technology at competitive prices. One model, known variously as the Yilong, Wing Loong or Pterodactyl, has become especially popular with foreign buyers, although Chinese secrecy surrounding such sales makes it difficult to know how many are in service and where.
Chinese Foreign ministry spokesman Hong Lei said China took a “cautious approach” to arms exports and abided by relevant U.N. resolutions and domestic laws.
The 10 largest exporters of major weapons
|Country||Share of global exports 2010-14|
Knowledge is Wealth
- India remains the largest importer of Arms in the World.
- India imports 65% of its military hardware and software.
- In last five years, India has spent Rs 1,03,536 crore ($16.72 billion) in direct payments to foreign armament companies.
- India exports arms worth Rs 2,644 crore ($426 million) in the same time.