The world's 100 biggest arms-producing and military services companies saw a turnover of $420 billion in 2018, a 5% increase since 2018. Three Indian state-owned companies figured in 100 top— Hindustan Aeronautics (38th), Indian Ordnance Factories (56th) and Bharat Electronics (62nd) — with combined arms sales of $5.9 billion accounted for just 1.4% of the total.
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