STOCKHOLM, Sweden: Sales of arms and military services grew in 2021, researchers said on Monday, but were limited by worldwide supply issues related to the pandemic, with the war in Ukraine increasing demand while worsening supply difficulties. The top 100 arms companies sold weapons and related services totaling $592 billion in 2021, 1.9-percent more than the year before, said the latest report from the Stockholm International Peace Research Institute .
By how much was at the same time harder to gauge, Tian said pointing to two factors that would impact demand. The Ukraine effect 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.' With the supply crunch expected to worsen, it could hamper these efforts, the authors noted.
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