US Weapons Exporters Lead World in War Profiteering
New study finds booming business driven by 'an escalation of regional tensions in the Middle East and Asia Pacific'
U.S. weapons exporters lead the world in profits from the booming military arms and equipment business, driven by rising tensions and conflict around the world, according to a new report from London-based analysts.
The annual study by IHS Inc.--which looks at military markets in 65 nations, excluding small arms, munitions, and surveillance programs--finds that the United States is behind one-third of all equipment and weapons exports world-wide.
This is no small amount: in 2014, global "defense" trade surpassed $64.4 billion, the report finds.
"Defense trade rose by a landmark 13.4 percent over the past year," said Ben Moores, senior defense analyst at IHS Aerospace, Defense and Security, in a press statement. "This record figure has been driven by unparalleled demand from the emerging economies for military aircraft and an escalation of regional tensions in the Middle East and Asia Pacific."
The U.S., further, is the top profiteer from rising conflict across the Middle East, accounting for $8.4 billion in exports to this region in 2014, compared to $6 billion the previous year.
Meanwhile, U.S. allies in the expanding war against ISIS are boosting their weapons imports significantly.
Saudi Arabia blew past India to become the number one weapons and military equipment importer in the world. Analysts predict that, in 2015, Saudi Arabia will account for one of every seven dollars spent on such imports.
Furthermore, United Arab Emirates was included in the top five weapons exporters in the world.
Employing a cold business calculus, Moores said the 2014 track record forecasts more military conflict--and profits--to come.
"When we look at the likely export addressable opportunities at a global level for the defense industry, five of the 10 leading countries are from the Middle East," Moores said. "The Middle East is the biggest regional market and there are $110 billion in opportunities in coming decade."
Urgent. It's never been this bad.
Dear Common Dreams reader, It’s been nearly 30 years since I co-founded Common Dreams with my late wife, Lina Newhouser. We had the radical notion that journalism should serve the public good, not corporate profits. It was clear to us from the outset what it would take to build such a project. No paid advertisements. No corporate sponsors. No millionaire publisher telling us what to think or do. Many people said we wouldn't last a year, but we proved those doubters wrong. Together with a tremendous team of journalists and dedicated staff, we built an independent media outlet free from the constraints of profits and corporate control. Our mission from the outset was simple. To inform. To inspire. To ignite change for the common good. Building Common Dreams was not easy. Our survival was never guaranteed. When you take on the most powerful forces—Wall Street greed, fossil fuel industry destruction, Big Tech lobbyists, and uber-rich oligarchs who have spent billions upon billions rigging the economy and democracy in their favor—the only bulwark you have is supporters who believe in your work. But here’s the urgent message from me today. It’s never been this bad out there. And it’s never been this hard to keep us going. At the very moment Common Dreams is most needed and doing some of its best and most important work, the threats we face are intensifying. Right now, with just three days to go in our Spring Campaign, we're falling short of our make-or-break goal. When everyone does the little they can afford, we are strong. But if that support retreats or dries up, so do we. Can you make a gift right now to make sure Common Dreams not only survives but thrives? There is no backup plan or rainy day fund. There is only you. —Craig Brown, Co-founder |
U.S. weapons exporters lead the world in profits from the booming military arms and equipment business, driven by rising tensions and conflict around the world, according to a new report from London-based analysts.
The annual study by IHS Inc.--which looks at military markets in 65 nations, excluding small arms, munitions, and surveillance programs--finds that the United States is behind one-third of all equipment and weapons exports world-wide.
This is no small amount: in 2014, global "defense" trade surpassed $64.4 billion, the report finds.
"Defense trade rose by a landmark 13.4 percent over the past year," said Ben Moores, senior defense analyst at IHS Aerospace, Defense and Security, in a press statement. "This record figure has been driven by unparalleled demand from the emerging economies for military aircraft and an escalation of regional tensions in the Middle East and Asia Pacific."
The U.S., further, is the top profiteer from rising conflict across the Middle East, accounting for $8.4 billion in exports to this region in 2014, compared to $6 billion the previous year.
Meanwhile, U.S. allies in the expanding war against ISIS are boosting their weapons imports significantly.
Saudi Arabia blew past India to become the number one weapons and military equipment importer in the world. Analysts predict that, in 2015, Saudi Arabia will account for one of every seven dollars spent on such imports.
Furthermore, United Arab Emirates was included in the top five weapons exporters in the world.
Employing a cold business calculus, Moores said the 2014 track record forecasts more military conflict--and profits--to come.
"When we look at the likely export addressable opportunities at a global level for the defense industry, five of the 10 leading countries are from the Middle East," Moores said. "The Middle East is the biggest regional market and there are $110 billion in opportunities in coming decade."
U.S. weapons exporters lead the world in profits from the booming military arms and equipment business, driven by rising tensions and conflict around the world, according to a new report from London-based analysts.
The annual study by IHS Inc.--which looks at military markets in 65 nations, excluding small arms, munitions, and surveillance programs--finds that the United States is behind one-third of all equipment and weapons exports world-wide.
This is no small amount: in 2014, global "defense" trade surpassed $64.4 billion, the report finds.
"Defense trade rose by a landmark 13.4 percent over the past year," said Ben Moores, senior defense analyst at IHS Aerospace, Defense and Security, in a press statement. "This record figure has been driven by unparalleled demand from the emerging economies for military aircraft and an escalation of regional tensions in the Middle East and Asia Pacific."
The U.S., further, is the top profiteer from rising conflict across the Middle East, accounting for $8.4 billion in exports to this region in 2014, compared to $6 billion the previous year.
Meanwhile, U.S. allies in the expanding war against ISIS are boosting their weapons imports significantly.
Saudi Arabia blew past India to become the number one weapons and military equipment importer in the world. Analysts predict that, in 2015, Saudi Arabia will account for one of every seven dollars spent on such imports.
Furthermore, United Arab Emirates was included in the top five weapons exporters in the world.
Employing a cold business calculus, Moores said the 2014 track record forecasts more military conflict--and profits--to come.
"When we look at the likely export addressable opportunities at a global level for the defense industry, five of the 10 leading countries are from the Middle East," Moores said. "The Middle East is the biggest regional market and there are $110 billion in opportunities in coming decade."