The Sweden-based think tank says global expenditure hit US$1.8 tril in 2018.
The data, covering the period from 2015 to 2017, allowed it to compile what it called the most comprehensive picture of Chinese companies’ weapons production to date. Aircraft and avionics group Aviation Industry Corporation of China would rank as the sixth largest arms producer, with estimated 2017 sales of US$20.1, while land systems-focused China North Industries Group Corporation would place eighth with an estimated US$17.2 billion in sales, the institute said.
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