Stockholm sources have reported that the Global arms sales increased for the first time in five years in 2016 as rising geopolitical tensions fueled defense spending, according to the Stockholm International Peace Research Institute (SIPRI). Accordingly the sales by the world's 100 biggest arms producers increased 1.9% from the previous year to reach $374.8 billion.
The report stated that "The growth in arms sales was expected and was driven by the implementation of new national major weapon programs, ongoing military operations in several countries and persistent regional tensions that are leading to an increased demand for weapons".
Meanwhile
the Arms producers in South Korea, which increasingly supply the country's
military, saw the largest percentage increase among developed countries.
Furthermore the American firms remained at the top of the industry in 2016,
with sales increasing by 4% to more than $217 billion which was 58% of the
global total.
