Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

2/18/2013 (1 year ago)

Catholic Online (www.catholic.org)

Slump in traditional arms sales leads to heightened interest in cyber-security

Sales of traditional weapons used by the world's government have experienced a slump for the first time in decades. In response, those who previously manufactured tanks, weapons and artillery are concentrating on increasing their cyber-security products.

The top spots were little changed from 2010 with U.S. firm Lockheed Martin still the biggest, with $36.3 billion in sales. Boeing placed second, with $31.8 billion in sales, followed by British BAE Systems with $29.1 billion.

The top spots were little changed from 2010 with U.S. firm Lockheed Martin still the biggest, with $36.3 billion in sales. Boeing placed second, with $31.8 billion in sales, followed by British BAE Systems with $29.1 billion.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

2/18/2013 (1 year ago)

Published in Business & Economics

Keywords: Arms sales, cyber-security, governments, war


LOS ANGELES, CA (Catholic Online) - In spite of wars raging simultaneously across the globe, arms sales by the 100 biggest weapons makers fell for the first time since the mid-1990s. Overall, worldwide economies slowed and purchases of equipment were reduced, the Stockholm International Peace Research Institute said.

The end of the U.S. war in Iraq, and the winding down of the Afghanistan effort also pushed down sales, which amounted to $410 billion last year, a five percent drop 2010.

Compiling the list since 1989, the institute does not include Chinese-based firms due to a lack of available data.

"Austerity policies and proposed and actual decreases in military expenditure as well as postponements in weapons program procurement affected overall arms sales in North America and Western Europe," the institute said in a statement.

"The draw downs in Iraq and Afghanistan and the sanctions on arms transfers to Libya also played a role."

Susan Jackson, a researcher at the institute, said spending fell for the first time since the mid-1990s, when defense spending was falling after the Cold War.

Sales growth had already slowed in 2010, to one to eight percent in 2009, as the withdrawal of foreign troops from Iraq held back demand.

Of the firms monitored by the group in 2011, 74 were based in the U.S. and Western Europe, generating 90 percent of the sales, roughly unchanged from 2010.

The top spots were little changed from 2010 with U.S. firm Lockheed Martin still the biggest, with $36.3 billion in sales. Boeing placed second, with $31.8 billion in sales, followed by British BAE Systems with $29.1 billion.

The institute said a strong recent trend among big arms makers was diversification into cyber-security. The protection of computers and networks against intrusions and attacks has become of heightened global interest. Public spending in this area remained a privileged area in Western countries despite budget austerity.

"Cyber-security has become a top national security issue and there has been a lot of discussion about that over the last years," a cyber-security at the institute Vincent Boulanin said.

---


Pope Francis: end world hunger through 'Prayer and Action'


2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for August 2014
Refugees:
That refugees, forced by violence to abandon their homes, may find a generous welcome and the protection of their rights.
Oceania: That Christians in Oceania may joyfully announce the faith to all the people of that region.



Comments


More Business & Economics

Here comes a boom! $7 trillion in untapped funds to flood global market Watch

Image of A report suggests that corporations and equity firms hold nearly $7 trillion in cash reserves that could bolster the world's economy.

By Catholic Online (NEWS CONSORTIUM)

A new boost to the global economic recovery may happen soon, as corporate giants and private equity firms prepare to tap into cash reserves of $7 trillion, stored since the current financial crisis began back in 2008. LOS ANGELES, CA (Catholic Online) - Investors ... continue reading


OBAMA PARTIES AS ROME BURNS: U.S. wages down by 23 percent - while president takes a vacation Watch

Image of The timing of Obama's swank vacation has even the president's supporters worried.

By Catholic Online (NEWS CONSORTIUM)

Lots of negative news to go around - Ebola seems to be spreading worldwide, Islamic State is increasing its stranglehold on Iraq, a much beloved comedian and screen actor is found dead at home, an apparent suicide - U.S. President Barack Obama is in Martha's ... continue reading


Religious orders NEED to understand economics Watch

Image of A letter from two high-ranking Catholic officials requests that religious orders gain a better understanding of finance and economics.

By Catholic Online (NEWS CONSORTIUM)

In a letter addressed to members of religious communities, Vatican officials requested that these groups should not be ignorant of economic realities connected to community life and a mission of serving the world in the name of the Church. LOS ANGELES, CA ... continue reading


THANKS, BARACK! Federal debt up $7 TRILLION under your watch. Watch

Image of By the close of business on July 31, 2014, it had risen to $17,687,136,723,410.59, up $7,060,259,674,497.51 since Obama first inauguration day.

By Catholic Online (NEWS CONSORTIUM)

Thanks, Barack! The total federal debt of the U.S. government has increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president. That's more than the debt increased under all U.S. presidents from George ... continue reading


Live Catholic - Shop Catholic - Guess who now accepts checks?

Image of Catholic Shopping .com now accepts checks via Dwolla!

By Catholic Online (NEWS CONSORTIUM)

Guess who now accepts checks? Catholic Shopping .com does! This new option now makes it easier for you to control how you pay for the things you like. LOS ANGELES, CA (Catholic Online) - Catholic Shopping .com is now accepting checks via the online processor, Dwolla. ... continue reading


Unemployment in the U.S. - never went away! Many still without work Watch

Image of The number of Americans not in the labor force dropped only slightly in July, down 119,000 from the 92,120,000 Americans not in the labor force in June.

By Catholic Online (NEWS CONSORTIUM)

It may have fallen off the radar of many news outlets - but joblessness is still a BIG problem here in the United States. Since President Obama took office in January 2009, 11.4 million Americans 16 years and older have left the workforce, according to data ... continue reading


INDEBTEDNESS: One in three U.S. adults have 'debt in collections' Watch

Image of One in three American adults are so far behind in personal debt that many of their accounts have been referred to collections.

By Catholic Online (NEWS CONSORTIUM)

Some call it the American way, and it's become a most uncomfortable fact of life for many Americans. Personal debt is at an all-time high, and at least one in three Americans, 77 million people, have had their debt referred to collection agencies as a result. ... continue reading


LUMP OF COAL - LITERALLY! Coal companies pushed to brink of insolvency by Obama policies Watch

Image of The very fuel that fed the Industrial Revolution and powered U.S. growth for much of the past century, the coal industry finds itself on the brink of insolvency, with many companies going out of business.

By Catholic Online (NEWS CONSORTIUM)

Dealing with cheap natural gas and tighter regulation, the U.S. coal industry has fallen on hard times. The very fuel that fed the Industrial Revolution and powered U.S. growth for much of the past century, the coal industry finds itself on the brink of ... continue reading


The poor getting power in U.S. - typical household is now worth a third less Watch

Image of The old saw goes that when only a few people are winning and more than half the population is losing, surely something is amiss.

By Catholic Online (NEWS CONSORTIUM)

The rich get richer - and the poor have children. But seriously, folks, the poor is getting even poorer in the United States. Recovery from the last big recession in 2007, hasn't really taken off as of yet. Recent studies show that the average American ... continue reading


HAIL BRITANIA! Britain declared fastest growing economy in developed world Watch

Image of Britain is now

By CNA/EWTN News

There will always be an England, as the old song goes. While the United Kingdom has experienced highs and lows, it's always recovered - and prospered. This was born out by the recent news that Britain will be the best performing major economy in the developed ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Ezekiel 34:1-11
1 The word of Yahweh was addressed to me as ... Read More

Psalm, Psalms 23:1-3, 3-4, 5, 6
1 [Psalm Of David] Yahweh is my shepherd, I lack ... Read More

Gospel, Matthew 20:1-16
1 'Now the kingdom of Heaven is like a landowner ... Read More

Saint of the Day

Saint of the Day for August 20th, 2014 Image

St. Bernard of Clairvaux
August 20: St. Bernard, Abbot and Doctor of the Church St. Bernard was born ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter