Arms industry

The arms industry, also known as the defence industry (or defense industry), the military industry, or the arms trade, is a global industry which manufactures and sells weapons and military technology. Public sector and private sector firms conduct research and development, engineering, production, and servicing of military material, equipment, and facilities. Customers are the armed forces of states, and civilians. An arsenal is a place where arms and ammunition – whether privately or publicly owned – are made, maintained and repaired, stored, or issued, in any combination. Products of the arms industry include weapons, munitions, weapons platforms, military communications and other electronics, and more. The arms industry also provides other logistical and operational support. The Stockholm International Peace Research Institute (SIPRI) estimated military expenditures at $1822 billion. This represented a relative decline from 1990, when military expenditures made up 4$420 billion in 2018, according to SIPRI. This was 4.6 percent higher than sales in 2017 and marks the fourth consecutive year of growth in Top 100 arms sales. In 2004, over $30 billion were spent in the international arms-trade (a figure that excludes domestic sales of arms). According to the institute, the five largest exporters in 2014–18 were the United States, Russia, France, Germany and China whilst the five biggest importers were Saudi Arabia, India, Egypt, Australia and Algeria. Many industrialized countries have a domestic arms-industry to supply their own military forces. Some countries also have a substantial legal or illegal domestic trade in weapons for use by their own citizens, primarily for self-defense, hunting or sporting purposes. Illegal trade in small arms occurs in many countries and regions affected by political instability.