Special Report
China State Shipbuilding Corporation Is the Fastest Growing Weapons Manufacturer
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This article was written with the assistance of A.I. technology, and has been edited and fact-checked by Melly Alazraki.
China State Shipbuilding Corporation, or CSSC, is the world’s fastest-growing military manufacturer, with its defense-related revenue increasing by 114% between 2017 and 2021, according to Stockholm International Peace Research Institute’s report The SIPRI Top 100 Arms-producing and Military Services Companies, 2021.
Contributing to this massive growth is China’s ballooning defense spending, which expanded over 70% over the past decade, as well as global military spending growth, which has increased by 12% over the past decade.
American arms manufacturers are some of the biggest beneficiaries of the global boom in defense spending, with seven of the world’s 25 fastest-growing defense contractors based in the U.S. These include the largest arms producer, Lockheed Martin, and the fourth largest, Northrop Grumman. However, CSSC is quickly catching up thanks to its strong performance in recent years, moving up from 15th largest arms-producing company by revenue in 2020 to 14th largest.
CSSC was founded in 1982. One notable weapon the company manufactures is the Type 730C Dual Gun and Missile CIWS (close in weapon system), which combine a Gatling gun and naval missiles.
Click here to see the fastest growing weapons manufacturers in the world
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