The Czechoslovak Group (CSG) has secured a spot among the many world's 100 largest arms producers, marking a historic first for the corporate.
The Stockholm Worldwide Peace Analysis Institute (SIPRI) introduced the entry of the CSG into the 89th place rating in its annual report on the worldwide arms commerce for 2023.
The SIPRI report states that the highest 100 arms producers collectively elevated gross sales by four.2% in 2023, reaching $632 billion.
The rise coincides with escalating world conflicts, together with the continued conflict in Ukraine, the outbreak of conflict in Gaza and rising tensions in Asia.
CSG noticed its income from arms gross sales and navy providers develop 25% 12 months over 12 months to about $1.2 billion. This enhance pushed the Czech firm from 107th place within the earlier rating. In accordance with SIPRI, the CSG has efficiently diversified its sources of revenue, with a big enhance in arms exports to EU member states.
Media studies have indicated that CSG has been concerned in arms provide contracts to Ukraine, though different European nations have facilitated these offers.
“In 2023, there was a big enhance in income from arms gross sales, which is prone to proceed in 2024,” famous Lorenzo Scarazzato, one of many examine's authors.
American corporations dominate the worldwide arms market, accounting for $317 billion in gross sales, up 2.5% from 2022. American companies secured the highest 5 spots within the rating, with Lockheed Martin, RTX and Northrop Grumman main the cost.
In the meantime, European corporations contributed $133 billion to the worldwide complete. Whereas this determine remained secure in comparison with 2022, SIPRI suggests that a vital enhance is prone to have occurred in 2023. German producers carried out significantly nicely, with 4 main corporations rising their navy gross sales by 7.5% in 10.7 billion .
(Aneta Zachová | Euractiv.cz)