The United States has just beaten the world’s global market as of last year, as the figures have revealed that approximately $40 billion in arms sales were purchased from them through numerous deals.
France comes second place in regards to arms sales, totaling up to $15 billion, or two and a half times less than the United States.
According to the figures revealed by the congressional study, Qatar had bought weapons tallying up to $17 billion in arms sales, with Egypt behind them at $12 billion, and then followed by Saudi Arabia at $8 billion.
Business is Good
The statistics have shown that in 2014, the global arms sales added up to almost $89 billion, and then dropped to $80 billion in 2015.
Developing nations have been the top customers concerning the purchasing of weapons, and had reached their peak in 2014, accounting up to $79 billion, then dropping to $65 billion in the following year.
The top two sellers, France and the United States amplified their selling of arms internationally during 2015, which resulted in France’s profits going up by $9 billion, and the United States had received an additional $4 billion profit.
A Closer Look
The Conventional Arms Transfers to Developing Nations, 2008-15 was sent to the lawmakers in the previous week, and is conducted by non-parochial Congressional Research service.
The purpose of such a report is to analyze and examine the inflation process, so that the profits and figures of the arms deals may be compared yearly.
According to security policy specialist Catherine A. Theohary, she states that the biggest buyers for arms have resorted to limiting the amount and budget of arms deals, as a direct effect from their local budget conflicts.
Instead of purchasing more arms, the top buyers seek interest in channeling their money towards advanced trainings, support services, and to upgrade the existing weapon and defense systems that they currently possess.