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Defence & Security News - China
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| Norinco and AVIC from China in the top ten of Defense Companies Worldwide. | |||
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Two Chinese state-owned enterprises are ranked among the Top Ten Defense Companies Worldwide, according to a recent report on global military industry published by Stockholm International Peace Research Institute.
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 More than 40 new military products was presented by the Chinese Company NORINCO at Zhuhai Air Show which was held in China from the 11 to 16 November 2014. |
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The two companies are China North Industries Corporation (NORINCO) and the Aviation Industry Corporation of China (AVIC).
The Wall Street Journal (WSJ) reported December 15 that Western weapons manufacturers including Lockheed Martin Space Systems Company and Boeing still rank high on the list. "China North Industries Corp. and Aviation Industry Corp. of China sit atop as many as four other Chinese producers in the global top 20, alongside three Russian state-owned defense companies according to data", the WSJ reported. It is learnt that NORINCO registered US$65.6 billion of sales revenue in 2014. It is a major supplier of tanks and missiles among other landwarfare weapons and exports ammunition, artillery and air defense systems to Africa and the Middle East. Meanwhile, the military aircraft exports of AVIC has been growing slowly. China has become the third biggest arms exporter in the world following the U.S. and Russia during 2010-2014, but China’s exports only accounts for 5% of the total overseas sales, said Stockholm International Peace Research Institute. Earnings of Western military companies were declining during the past four years, while the military budgets of China and Russia were increasing at a two-digit rate. That is why the growth rates of their arms suppliers surpassed the industry average, commented the WSJ. |
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Norinco and AVIC from China in the top ten of Defense Companies Worldwide 11612159
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