Business

February 20, 2013

Arms vendors turn to cyber security as sales drop

The world’s largest arms vendors are expanding in the cybersecurity sector as austerity measures weigh on sales of traditional weapons, a Swedish peace research institute said Feb. 18.

Sales by the 100 largest arms producing companies, excluding Chinese companies, fell by 5 percent to $410 billion in 2011, the Stockholm International Peace Research Institute said in its annual review of the industry.

The drop was mainly due to austerity measures and the withdrawal of troops from Iraq and Afghanistan, SIPRI said, but pointed out that cybersecurity has remained a privileged spending area for governments despite budget cuts.

“Cybersecurity has become a top national security issue and there has been a lot of discussion about that over the last years,” SIPRI cybersecurity expert Vincent Boulanin said. “Countries are willing to gear up to face potential cyberthreats from other countries or private actors.”

Cybersecurity first became a major issue following the attack against Estonia in 2007 that used thousands of infected computers to cripple dozens of government and corporate websites, Boulanin said. Since then, numerous attacks have occurred that have increased the demand for security products, including the recent Chinese hacker attacks against The New York Times and The Wall Street Journal.

Boulanin said arms dealers are taking advantage of these developments to expand into new fields and are acquiring smaller companies to get hold of the necessary technical expertise. The ventures mainly involve services for data and network protection, testing and simulation, training and consulting and operational support.

SIPRI also said U.S.-based Lockheed Martin remained the biggest arms vendor in 2011, with arms sales of $36.27 billion, while Boeing overtook Britain’s BAE Systems as the second largest weapons merchant.

Here’s SIPRI’s list of the top 10 arms vendors in 2010 (2009 ranking in parenthesis):

1. Lockheed Martin, U.S, $36.27 billion (1).

2. Boeing, U.S., $31.83 billion (3).

3. BAE Systems, Britain, $29.15 billion (2).

4. General Dynamics, U.S., $23.76 billion (5).

5. Raytheon, U.S., $22.47 billion (6).

6. Northrop Grumman, U.S., $21.39 billion (4).

7. EADS, Trans-European, $16.39 billion (7).

8. Finmeccanica, Italy, $14.56 billion (8).

9. L-3 Communications, U.S., $12.52 billion (9).

10. United Technologies, U.S., $11.64 billion (10).

 




All of this week's top headlines to your email every Friday.


 
 

 

Headlines August 25, 2014

News: U.S. sends second carrier to Asia amid tensions with China - The Navy is sending a second aircraft carrier strike group to the Asia Pacific region amid new tensions with China over a dangerous aerial encounter between a Chinese interceptor and a Navy P-8 surveillance aircraft. SpaceX rocket explodes during test flight - A SpaceX rocket...
 
 

News Briefs August 25, 2014

China says U.S. plane intercept was professional China’s Defense Ministry has rejected U.S. accusations that a Chinese fighter jet conducted a dangerous intercept of a U.S. Navy surveillance aircraft off the coast of China in international airspace. The ministry issued a statement Aug. 23 attributed to spokesman Yang Yujun calling the U.S. accusations groundless. It...
 
 

Ukraine plans $3 billion boost to defense spending

KIEV, Ukraine – Ukraine’s president announced plans Aug. 24 to boost his country’s defense spending by an estimated 50 percent as government forces seek to overpower pro-Russian separatists in the east. President Petro Poroshenko pledged to spend an extra 40 billion hryvnia ($3 billion) by 2017 during a speech marking Ukraine’s independence from the Soviet...
 

 

NASA awards research facilities, engineering support services contract

NASA has awarded a contract for research facilities and engineering support services to InuTeq, LLC of Greenbelt, Maryland, in support of the Mission Information and Test Systems Directorate at NASA’s Armstrong Flight Research Center, Edwards, Calif. This cost-plus-award-fee contract covers a one-year base period beginning Nov. 1, 2014 and four one-year options, and is valued...
 
 

Navy Awards General Dynamics contract for LCS planning yard services

The U.S. Navy awarded General Dynamics Bath Iron Works a $100 million contract to provide planning yard services for the Littoral Combat Ship program. General Dynamics Bath Iron Works is a business unit of General Dynamics. Bath Iron Works, as the LCS Planning Yard, will provide maintenance and modernization support for all Navy LCS 1...
 
 
boeing-boc

Boeing, BOC Aviation announce order for 82 airplanes

  Boeing announced Aug. 25 an order by BOC Aviation for 50 737 MAX 8s, 30 Next-Generation 737-800s and two 777-300ERs (Extended Range). The order, valued at $8.8 billion at list prices, is the largest in BOC Aviation’...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>