The Ukroboronprom State Concern has risen from 81st to 71st place in the Stockholm International Peace Research Institute (SIPRI) ranking of the world's 100 largest arms companies, the concern's press service has reported.
"The Ukroboronprom State Concern was placed 71st in 2018 in the ranking of the Stockholm International Peace Research Institute (SIPRI). This is stated in a published study for December 2019," the report said.
It notes that Ukroboronprom was in the 81st position in 2017. Accordingly, in one year the state concern climbed ten spots in the ranking.
"Export is a priority for Ukroboronprom. We are actively working on improving the quality of our products, concluding new contracts and executing them on time," Ukroboronprom CEO Aivaras Abromavicius was quoted as saying.
In 2018, worldwide arms sales increased by 4.6% compared to 2017.
The press service also recalled that Ukroboronprom had started the reform of arms exporting companies and the sales function itself, which will last for about two years.