Global arms sales: Change is underway

There are signs of a significant shift away from the world's major weapons-producing region, with impressive gains for China, and to an extent, India

The world witnessed a significant surge in arms sales from countries in the Asia-Oceania region in 2021. Despite supply-related disruptions due to the Covid-19 pandemic, arms sales by the 100 most important weapons manufacturing companies stood at $592 billion, representing an increase of 1.9 per cent from 2020.

According to the Stockholm International Peace Research Institute (SIPRI), in aggregate terms, arms sales from Asia and Oceania increased by 5.8 per cent to $136 billion, surpassing weapons sales from Europe by a considerable $13 billion. This represents a significant shift away from a major weapons-producing region, which has historically been dominated