Russia races ahead of NATO in weapons production for Ukraine war: SIPRI
Al Jazeera
Despite a defence budget 10 times Russia’s, new report lays bare how NATO is unable to turn spending power into firepower in a crisis.
New research shows that the revenues of Russia’s top defence contractors outpaced those of their United States and European counterparts last year, as they increased weapons production more effectively than their Western rivals.
The figures, released today by the Stockholm International Peace Research Institute (SIPRI) in its annual report on the world’s top 100 defence companies, raise questions about the West’s ability to supply Ukraine with the weapons it needs to defeat Russia’s invasion.
While Russia’s leading defence firms enjoyed revenue growth of 40 percent, top US and European defence contractors’ revenues grew by 2.5 percent and 0.2 percent, respectively, against a global average of 4.2 percent.
Even though the nominal turnover of the top US and European defence contractors was larger by orders of magnitude – $317bn and $133bn respectively to Russia’s $25.5bn – SIPRI’s findings show that Russia has weaponised its economy more effectively in a time of war to meet supply challenges at the front.
Only two Russian companies made it into the top 100: Rostec, a state-owned holding company whose subsidiaries manufacture aircraft, armour and electronics, and United Shipbuilding Corporation, because they were the only ones publishing financial information, said SIPRI.
