December 5, 2022
1 min read

‘Arms trade growth limited by global supply crunch’

The arms trade, which saw a growth in 2021 is facing difficulties when the war in Ukraine is increasing its demand….reports Asian Lite News

The worsening supply chain issues related to the pandemic are limiting sales of arms and military services across the globe, media reported.

The arms trade – which saw a growth in 2021 – is facing difficulties when the war in Ukraine is increasing its demand.

According to a report from the Stockholm International Peace Research Institute (SIPRI), the top 100 arms companies sold weapons and related services totalling $592 billion in 2021, 1.9-percent more than the year before, news agency AFP reported.

 “The lasting impact of the pandemic is really starting to show in arms companies,” Nan Tian, a senior researcher at SIPRI, told AFP.

Disruptions from both labour shortages and difficulties in sourcing raw materials were “slowing down the companies’ ability to produce weapons systems and deliver them on time, it was reported.

Russia’s invasion of Ukraine is also expected to worsen supply chain issues, in part “because Russia is a major supplier of raw materials used in arms production,” said the report’s authors.

But the war has at the same time increased demand. “Definitely demand will increase in the coming years,” Tian said, pointing to two factors that would impact demand.

Firstly, countries that have sent weapons to Ukraine to the tune of hundreds of millions of dollars will be looking to replenish stockpiles.

Secondly, the worsening security environment means “countries are looking to procure more weapons.”

However, with the supply chain issues expected to worsen, it could hamper these efforts, the authors noted, it was reported.

ALSO READ: Iran, Iraq To Mend Ties

Previous Story

Canadian hospitals overwhelmed by ‘tridemic’

Next Story

Vodafone CEO Nick Read steps down

Latest from USA

Visa Interview Pause Nearing End, Says US

India is the source country for the largest group of international students in the US and Bruce’s comments will be closely followed there….reports Asian Lite News The United States said the pause

India-US eye June trade deal

The trade discussions come at a crucial time, with the United States’ 26 per cent reciprocal tariff on Indian goods—imposed on April 2—currently suspended until July 9….reports Asian Lite News India and

FS Misri in US to Boost Tech, Trade Ties

The meeting, held in Washington, focused on strengthening existing frameworks and building momentum on key tech and trade initiatives…reports Asian Lite News Foreign Secretary Vikram Misri on Wednesday (India time) met with

EU Vows US Trade Deal

European Commission President Ursula von der Leyen phoned Trump on Sunday, after which he agreed to postpone the planned tariff increase until July 9….reports Asian Lite News The European Commission remains “fully

Top Indian Officials Head to Washington

The visit, likely next week, follows US President Trump’s claims that his administration helped broker the recent India-Pakistan ceasefire….reports Asian Lite News Top sources revealed on Sunday that Foreign Secretary Vikram Misri
Go toTop

Don't Miss

US Awaits India’s Probe into Foiled Assassination Plot

The comments come a week after the White House said

Biden mulls troops deployment in Afghanistan beyond Aug 31

Following the Taliban’s swift takeover of Kabul last week, the