Lockheed leads arm sales

A peace research group says sales growth for the world’s 100 largest arms producers slowed to 1 per cent in 2010 as foreign forces withdrew from Iraq.

Comparable sales rose 4 per cent in 2009 and more than 10 per cent the year before.

The Stockholm International Peace Research Institute’s annual statistics on the arms industry were released yesterday. Us-based Lockheed Martin remained the biggest arms vendor in 2010, with sales of US$35.73 billion ($42.8 billion).

Institute expert Susan Jackson said the drawdown in Iraq mainly affected arms producers providing military services such as system support, training, repair and logistics.

The financial crisis didn’t have a major impact on military budgets in 2010, she said.

IArms vendors, 2010

1. Lockheed Martin, US, US$35.73 billion.

2. BAE Systems, Britain, US$32.88 billion. 3. Boeing, US, US$31.36 billion. 4. Northrop Grumman, US, US$28.15 billion.

5. General Dynamics, US, US$23.94 billion.

6. Raytheon, US, US$22.98 billion.

7. EADS, Trans-european, US$16.36 billion. 8. Finmeccanica, Italy, US$14.41 billion. 9. L-3 Communications, US, US$13.07 billion. 10. United Technologies, US, US$11.41 billion.