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 July 2014
Sports:
That sports may always be occasions of human fraternity and growth.
Lay Missionaries: That the Holy Spirit may support the work of the laity who proclaim the Gospel in the poorest countries.



Comments


More Business & Economics

The buck does stop here: Chinese currency set to close the gap between it and the dollar Watch

Image of A new study from China indicates that the Chinese yuan is likely to become the third most used international currency by 2019.

By Catholic Online (NEWS CONSORTIUM)

China's currency, the renminbi (RMB), is looking to become the third-largest international currency behind the U.S.'s dollar and the euro by 2019 said the Renmin University of China in a report published on July 20. LOS ANGELES, CA (Catholic Online) - Last year, ... continue reading


Financial consultant warns that U.S. is entering third largest stock bubble Watch

Image of A new study by financial consulting firm Smithers & Co. warns that the U.S. is entering another major stock bubble, the third largest in U.S. history.

By Catholic Online (NEWS CONSORTIUM)

A new research report by financial consultant Andrew Smithers, chairman of Smithers & Co., suggests that the U.S. is in the midst of another stock-market bubble, much like the bubbles in 1853, 1906, 1929, 1969 and 1999. LOS ANGELES, CA (Catholic Online) - ... continue reading


WARNING: The most important article you may ever read - We need a moral revolution at the top, before pitchforks appear in the street Watch

Image of In the game of plutocracy you start by owing money to the bank and as it progresses, you owe more.

By Marshall Connolly, Catholic Online (NEWS CONSORTIUM)

An article published in 2011 in Forbes is making the rounds again and people are talking, but despite the dust on the copy, it's a timely conversation. The article by Brendan Coffey reveals that there are four companies that control 147 other companies and those 147 ... continue reading


U.S. to shortly overtake Saudi Arabia, Russia in production of natural oil Watch

Image of In Texas and North Dakota, oil extraction is soaring at shale formations as companies split rocks using high-pressure liquid in a process known as fracking.

By Catholic Online (NEWS CONSORTIUM)

The United States has often found itself at the mercy of unstable nations for the majority of its oil imports. That day may soon be past after American begins the extraction of energy from shale rock, eventually overtaking both Saudi Arabia and Russia in oil ... continue reading


Unemployment among black Americans twice that among whites Watch

Image of The jobless rate among whites last month was 6.6 percent; among blacks, 12.6 percent. The unemployment rate for blacks has averaged about 2.2 times that for whites.

By Catholic Online (NEWS CONSORTIUM)

When African-Americans marched on Washington in 1963, it was under the banner of "Jobs and Freedom." There remains a great inequity with the former; the number of unemployed blacks in America remains twice as much as whites, and has remained that way for ... continue reading


Don't read this if you enjoy shrimp -- and hate slavery Watch

Image of Forced to work on old fishing boats, slaves work 20-hour days, often with drugs to keep them going. They are not paid, having been bought and sold into the industry.

By Catholic Online (NEWS CONSORTIUM)

A shocking investigative report from The Guardian reveal that virtually all shrimp harvested in Thailand is in some way a product of slave labor, and that much of this shrimp ends up in the mainstream food supply chain. If you eat shrimp, it is likely you are consuming ... continue reading


How bad is it? So bad even the capitalists are quoting Marx Watch

Image of IMF managing director Christine Lagarde gave a keynote address where she quoted Karl Marx.

By Catholic Online (NEWS CONSORTIUM)

The elites of the free world may be awakening to the fact that their unfettered pursuit of more is perhaps the single greatest existential threat to their existence. At a recent invitation-only conference in London, several billionaires as well as the head of the IMF ... continue reading


Yes, corporate tax havens cost you too! Watch

Image of It's common and it cheats millions of their due.

By Catholic Online (NEWS CONSORTIUM)

Surprise, surprise, surprise!  The same day Cardinal Maradiaga condemned unethical business practices that do nothing to help those at the bottom of society, a report was released that shows a majority of Fortune 500 companies stash their money offshore to avoid ... continue reading


America is now more appealing to manufacturers than Germany Watch

Image of German manufacturing firms are finding America an increasingly appealing place to open factories, because of the low price of business.

By Catholic Online (NEWS CONSORTIUM)

Many workers in the United States may agonize over growing job losses thanks to low-cost workers in India or China. For many in Germany, the U.S. may take that role thanks to the low cost of energy. LOS ANGELES, CA (Catholic Online) - The U.S. is the new global ... continue reading


Seattle approves $15 minimum wage Watch

Image of Seattle residents gathered to support the measure to increase the city's minimum wage to $15 an hour.

By Catholic Online (NEWS CONSORTIUM)

In a historic move, they city council of Seattle voted unanimously to raise the minimum wage to $15 per hour, which is twice the U.S. required minimum wage. LOS ANGELES, CA (Catholic Online) - The decision will go into effect next year, and through the next three ... 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, Jeremiah 1:1, 4-10
1 The words of Jeremiah son of Hilkiah, one of the ... Read More

Psalm, Psalms 71:1-2, 3-4, 5-6, 15, 17
1 In you, Yahweh, I take refuge, I shall never be put ... Read More

Gospel, Matthew 13:1-9
1 That same day, Jesus left the house and sat by the ... Read More

Saint of the Day

Saint of the Day for July 23rd, 2014 Image

St. Bridget of Sweden
July 23: Saint Birgitta was the daughter of Upplandís Lagman, Birger ... 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