According to the Stockholm International Peace Research Institute (SIPRI), global arms sales finally leveled off between the five-year periods from 2011 to 2015 and 2016 to 2020 after years of sharp growth. The United States remains the world's largest arms exporter and its sales grew from 32 percent to 37 percent during those two periods. During the latter span, it supplied arms to 96 countries, 47 percent of which were in the Middle East.
Russia remains in second position with a 20 percent share of the market despite experiencing a 22 percent drop in exports. While it substantially expanded arms transfers to China, Algeria and Egypt, that was not enough to offset a major decline in its sales to India. Both France and Germany managed to grow their arms exports considerably and they come third and fourth with 8.2 percent and 5.5 percent of the market, respectively. China rounded off the top five despite a 7.8 percent decline between 2016 and 2020. It held 5.5 percent of the market during that period with Bangladesh, Pakistan and Algeria accounting for the majority of its arms sales.