For the first time, Egypt joins the ranks of the top five importers of weapons internationally.
Egypt is moving up in the world it seems. Yesterday it was announced that it now ranks fourth internationally for its import of weapons.
The Global Defense Trade Report by IHS Aerospace, Defence & Security’s Markets Forecast database evaluated the global defence market in 65 countries, reviewing over 40,000 programmes, and ranked Egypt 4th among importers of weapons.
Worldwide, the top five importing countries significantly changed in 2015. Taiwan, China, and Indonesia are no longer among the top five. They have been replaced by Australia, Egypt, and South Korea.
The Global Defence Trade Report shows that international weapons trading has reached an all time high with markets rising by over $6.6 billion between 2014 and 2015 to reach $65 billion in 2015, and are poised to climb to $69 billion in 2016.
The Middle East is the largest importing region, with $21.6 billion in deliveries of defence equipment. The most commonly imported items were Rafale multi-role fighter aircrafts, submarines, and helicopters. The highest ranking importers in the Middle East are Saudi Arabia, Qatar, Egypt, and the UAE.