Russia’s arms exports are going bust as foreign buyers bolt and the Ukraine war chews through its weapons

Russia’s weapons exports have significantly decreased due to the conflict in Ukraine, with sales dropping by half from 2019 to 2023. France has surpassed Russia as the second-largest arms exporter globally. Russian arms manufacturers are facing challenges, including a shift towards producing more weapons for the Russian military. The Russian military has suffered high losses in the war, leading to increased production to replace lost equipment. However, Russian arms companies are struggling due to manpower and financial shortages, as well as growing costs from Western sanctions. Russian companies are losing customers, with the number of countries buying Russian weapons decreasing from 31 to 12. China and South Korea are challenging Russia in the arms market. The reputational damage from the conflict in Ukraine and the performance of Russian weapons systems on the battlefield are also contributing to the decline in Russia’s arms exports.

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