Russian defence industry enjoys record year despite sanctions

Sukhoi Superjets

The Russian defence industry exported a record $13.2bn of military hardware last year, despite the pressure of anti-Russian sanctions and the precipitous drop in oil prices, according to figures published today by Defense News in its annual Top 100 Global Defense Companies rankings.
Seven Russian companies feature in this year’s table, with VKO Almaz-Antey leading the pack in 11th place after recording a 10% rise in revenues. Sukhoi, MiG and Irkut manufacturer United Aircraft Corporation is in 14th place with revenues up by 7% followed by Russian Helicopters (23, +16%); United Engine-Building Corporation (26, +25%); the Tactical Missile Systems Corporation (31, +48.6%); tank manufacturer Uralvagonzavod (52, +1%); and electronic component producer RTI (69, +16%). The United Shipbuilding Corporation declined to take part.
As in 2013, the US giants Lockheed and Boeing hold the top two slots while Turkey’s Aselsan comes in at 63 and Ukraine’s Ukroboronprom at 92.
Analysts are attributing Russia’s unexpectedly buoyant performance to  the fact that many of its  main export clients are non-Western states and include China, India, Algeria and Venezuela. President Putin’s $350bn, 10-year rearmament programme is also beginning to have an impact.

Source: sputniknews