Arms sales increased by 4.6% worldwide in 2018 in a market dominated by the United States. Swiss defence and aerospace company RUAG kept its spot among the top 100 arms dealers, according to the Stockholm International Peace Research Institute (SIPRI).
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MRO Switzerland (RUAG MRO Holding AG) and RUAG International (RUAG Holding AG) will be created on January 1, 2020, under the umbrella of the new holding company BGRB Holding AG.
The world’s 100 largest arms manufacturers sold $420 billion (CHF416 billion) worth of weapons and services last year. The American arms industry has a 59% market share. Russia comes a distant second, with 8.6% of the market share just ahead of the United Kingdom (8.4%) and France (5.5%).
European companies control less than a quarter of the market overall.
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The audit will focus on the profits made under agreements concluded between RUAG and the Swiss army, Urs Breitmeier explained Saturday to public broadcaster SRF. In mid-December, the newspapers “Ostschweiz am Sonntag” and “Zentralschweiz am Sonntag” estimated that RUAG had overcharged the military by approximately CH40 million ($41 million) annually. The newspapers said that the profit margins for the…
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