The United States had a market share of over 40 percent in international arms exports between 2019 and 2023. The second largest suppliers of major weapons worldwide were Russia and France, accounting for 11 percent each of exports over the observed period. The United States, Russia, and France contributed nearly two thirds of major weapons exports between 2019 and 2023.
Leading military spending countries
The specter of the Cold War continues to influence the modern arms trade. The North Atlantic Treaty Organization (NATO) continues to be active three decades after the fall of the USSR, and its significance increased following Russia's invasion of Ukraine in 2022. Eventhough the U.S. defense outlays have decreased since the peak of the Iraq and Afghan wars, it is still by far the largest military spender of the NATO members. However, China has increasedmilitary spending in the past decade, signaling a possible shift in the global balance of military power, and several European NATO members have increased military spending significantly after the outbreak of the Russia-Ukraine war.
Leading military importers
Meanwhile, the market share of imports shows India and Saudi Arabia are the largest buyers. Saudi Arabia also spends the second most on its military as apercentage of gross domestic product, with Ukraine first.
