Quantcast
Latest Stories

Arms vendors turn to cyber security as sales drop


STOCKHOLM — The world’s largest arms vendors are expanding in the cybersecurity sector as austerity measures weigh on sales of traditional weapons, a Swedish peace research institute said Monday.

Sales by the 100 largest arms producing companies, excluding Chinese companies, fell by 5 percent to $410 billion in 2011, the Stockholm International Peace Research Institute said in its annual review of the industry.

The drop was mainly due to austerity measures and the withdrawal of troops from Iraq and Afghanistan, SIPRI said, but pointed out that cybersecurity has remained a privileged spending area for governments despite budget cuts.

“Cybersecurity has become a top national security issue and there has been a lot of discussion about that over the last years,” SIPRI cybersecurity expert Vincent Boulanin said. “Countries are willing to gear up to face potential cyberthreats from other countries or private actors.”

Cybersecurity first became a major issue following the attack against Estonia in 2007 that used thousands of infected computers to cripple dozens of government and corporate websites, Boulanin said. Since then, numerous attacks have occurred that have increased the demand for security products, including the recent Chinese hacker attacks against The New York Times and The Wall Street Journal.

Boulanin said arms dealers are taking advantage of these developments to expand into new fields and are acquiring smaller companies to get hold of the necessary technical expertise. The ventures mainly involve services for data and network protection, testing and simulation, training and consulting and operational support.

SIPRI also said U.S.-based Lockheed Martin remained the biggest arms vendor in 2011, with arms sales of $36.27 billion, while Boeing overtook Britain’s BAE Systems as the second largest weapons merchant.

Here’s SIPRI’s list of the top 10 arms vendors in 2010 (2009 ranking in parenthesis):

1. Lockheed Martin, U.S, $36.27 billion (1).

2. Boeing, U.S., $31.83 billion (3).

3. BAE Systems, Britain, $29.15 billion (2).

4. General Dynamics, U.S., $23.76 billion (5).

5. Raytheon, U.S., $22.47 billion (6).

6. Northrop Grumman, U.S., $21.39 billion (4).

7. EADS, Trans-European, $16.39 billion (7).

8. Finmeccanica, Italy, $14.56 billion (8).

9. L-3 Communications, U.S., $12.52 billion (9).

10. United Technologies, U.S., $11.64 billion (10).

Follow us on Facebook Follow on Twitter Follow on Twitter




Recent Stories:

US man charged with tossing wife off cruise ship 2 mins elapsed Jericho Rosales, Nora Aunor, Brillante Mendoza lead 36th Gawad Urian Awards 17 mins elapsed ‘Syria, dollar rate caused fuel price hike’ 21 mins elapsed Jobs, rural dev’t focus of Aquino’s next 3 years 50 mins elapsed DENR keeping some tusks, but not 5 tons 1 hour elapsed 12,000 cops to finally get guns 1 hour elapsed AFP denies using children in operations 1 hour elapsed Sex in PH embassies 1 hour elapsed
Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: arms vendors , Cybersecurity , infotech



Copyright © 2013,
.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement

News

  • US man charged with tossing wife off cruise ship
  • Jobs, rural dev’t focus of Aquino’s next 3 years
  • DENR keeping some tusks, but not 5 tons
  • 12,000 cops to finally get guns
  • AFP denies using children in operations
  • Sports

  • Nadal prepares for Wimbledon challenge
  • Lions romp looms large
  • Beermen may lose players ahead of Fiba Asia tilt
  • Can PH aces end Putra Cup drought?
  • Century Tuna 5150 lures elite triathletes
  • Lifestyle

  • 1335 A. Mabini St.–from colonial mansion to contemporary landmark
  • An expat’s ‘wife-trepreneur’s’ bright idea is fast catching on
  • Pio Abad’s art of archeology
  • Tweaking twigs for a centerpiece
  • With crummy airport and mercenary taxi drivers, it’s not fun in the Philippines
  • Entertainment

  • Jericho Rosales, Nora Aunor, Brillante Mendoza lead 36th Gawad Urian Awards
  • Hunky star, dangerous lover play with fire
  • Black Sabbath is back: Part 2 of 2
  • ‘World War Z’ draws massive crowd in NYC
  • Mikael Daez is a ‘peace envoy’
  • Business

  • ‘Syria, dollar rate caused fuel price hike’
  • Asian markets mixed as US Fed prepares for meeting
  • Peso dips as investors await next move of US Federal Reserve
  • Gov’t plans inflation-linked bonds
  • Stocks continue to rise
  • Technology

  • Dating site for broody singles launches in Denmark
  • Facebook CEO meets SKorean president
  • Chinese supercomputer named as world’s fastest
  • Echoes can reveal the shape of a room
  • Mysterious Facebook event sparks online buzz
  • Opinion

  • Editorial cartoon, June 19, 2013
  • Missed deadlines
  • Metro Manila’s stroke
  • Gov’t should do something serious about the floods
  • Conversation with Rizal
  • Global Nation

  • Sex in PH embassies
  • China Sea row discussed in US officials’ call on DND
  • US 7-11 stores rapped for exploiting Filipinos
  • Beijing warns PH on talks with Taipei
  • Defend Philippine independence against China invasion threat
  • Marketplace
    Advertisement
    © Copyright 1997-2013 INQUIRER.net | All Rights Reserved