Chinese defense companies are facing problems exporting their weapons due to the high competition in the global market.

The analysis was based on the companies’ reports and their place in the global Top 100 defense companies ranking by revenue.

Among the Chinese companies among the ten most profitable defense companies in the world is the state-owned Aviation Industry Corporation of China (AVIC), which moved to second place from fourth in 2022 and increased its revenue by $15 billion.

The Chinese shipbuilding giant China State Shipbuilding Corporation Limited also holds a strong position. The company mass-produces surface and underwater vehicles for the Chinese Navy and export. In 2023, the company increased its revenue by $3 billion and ranked 8th in the global ranking.

The third Chinese company in the top 10 is the state-owned NORINCO, which has recently had increasing difficulties exporting weapons, including armored vehicles, artillery systems, firearms, etc.

Due to poor sales, which fell by 8%, equivalent to $1.2 billion, the company dropped from the 8th place it held in 2022 to the 9th place.

The state-owned aerospace company China Aerospace Science and Technology Corporation (CASC) also suffered a total sales failure.

Due to the export failure, CASC fell from 15th place in the ranking, which it held in 2022, when it reported $9.6 billion in profits, to 52nd place in 2023, earning $2 billion for the year, a 78% decline.

Such sluggish arms exports by China are primarily due to serious competition in the global market.

More than 30 countries produce their own armored vehicles, including armored personnel carriers, IFVs, and other military vehicles, and most of them are trying to sell their products to interested countries.

Because of this, NORINCO is losing ground, and the company’s capacities are not always enough to develop new weapons in a timely manner and create more attractive conditions than those of its competitors.

Militarnyi previously reported that China has pushed Russia out of the African arms market and is increasing the supply of military equipment to African countries.