Global sales of military hardware surging

Islamic Extremism

A new report shows military trade around the world rose by nearly $10 billion last year. London-based IHS, a global information company which publishes Jane’s Defense Weekly, cites growing instability in the Middle East and the Asia-Pacific regions for the increase. It also notes that the biggest share of the profits are in the U.S. CCTV America’s Roee Ruttenberg filed this report from Hanover, Maryland.

Global sales of military hardware surging

Global sales of military hardware surging

A new report shows military trade around the world rose by nearly $10 billion last year. London-based IHS, a global information company which publishes Jane's Defense Weekly, cites growing instability in the Middle East and the Asia-Pacific regions for the increase. It also notes that the biggest share of the profits are in the U.S.CCTV America's Roee Ruttenberg filed this report from Hanover, Maryland.

Highlights:

  • For years, the U.S. has been a leading global supplier of military hardware. This includes not just weapons and tanks, but also fighter jets that sell for $200 million dollars, each.
  • According to a new study by IHS, global defense trade, the buying and selling of military equipment reached nearly $65 billion in 2014. That is a 13 percent jump from the year before.
  • Much of the profit has been coming to the U.S. Of the top five suppliers in the world, three are based in the U.S.
  • With U.S. domestic defense spending shrinking in recent years, foreign clients are making up the difference and more.
  • Russia set a record for defense exports in 2014 while China’s imports rose.
  • Saudi Arabia last year overtook India as the world’s biggest purchaser of military hardware and became the U.S.’s biggest client.
  • Regional insecurity may be creating new market opportunities that aren’t going away any time soon.
  • Over the next decade, five of the 10 biggest spenders will be from the Middle East.

Stephen Yates of D.C. International Advisory discusses the business of the military arms trade

CCTV America interviewed Stephen Yates for more insight into the booming, military arms trade business. Yates is the CEO of the business advisory firm, D.C. International Advisory. He was also Deputy Assistant to U.S. Vice President Dick Cheney on National Security Affairs.

Stephen Yates of DC Intl Advisory discusses the business of military arms trade

Stephen Yates of DC Intl Advisory discusses the business of military arms trade

CCTV America interviewed Stephen Yates for more insight into the booming, military arms trade business. Yates is the CEO of the business advisory firm, D.C. International Advisory. He was also Deputy Assistant to U.S. Vice President Dick Cheney on National Security Affairs.