The president has called for an expansion of the range of services in the industry

Russian President Vladimir Putin has praised the country's formidable position among global arms exporters. He emphasized that being ranked among the world's top five sellers highlights the quality of Russian-made weapons.

"Russia continues to remain among the top five leaders in the global arms market and maintains its leading export positions in many areas," Putin said on Friday during a meeting on military and technical cooperation.

The president stated that the order portfolio for Russian military products amounts to tens of billions of dollars, and he called for a further increase in the volume of exports.

Putin highlighted the need to improve cooperation with foreign partners by offering not only specific weapons and equipment but also a broader range of services, in order to boost Russian arms exports in a highly competitive environment.

He noted that such services could include "technological cooperation and the joint development of advanced models, assistance in their repair and modernization, as well as the supply of spare parts and training of foreign professionals."

In November, the CEO of Russia's state-run arms agency Rosoboronexport, Aleksandr Mikheev, told Vedomosti newspaper that the nation's export order portfolio remained at a record level of $55 billion in 2024. He noted that the agency signed contracts for the supply of more than 30 types of modern weapons and military equipment to foreign customers.

Earlier this month, the head of the Russian state-owned defense conglomerate Rostec, Sergey Chemezov, said that Rosoboronexport had signed over 20 contracts worth a total of about $7 billion since the beginning of the current year.

In 2024, Russia ranked second in global arms sales, with exports accounting for 12.32% of the international market, according to data compiled by the Centre for Analysis of World Arms Trade (CAWAT). The US dominated the sector (37.92%), and the other top sellers were France (6.90%), South Korea and Italy (5.10% each).

(RT.com)