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Russia's defense industry

Rosobornexport sees technology partnerships accounting for 40% of global market by 2030

Since 2000, Rosoboronexport has signed two major contracts with India, including for the licensed production of the Su-MKI fighter jet and Russian tanks, Alexander Mikheyev said

MOSCOW, October 19. /TASS/. The share of technology partnership projects will rise to 40% of the global defense market by 2030, Alexander Mikheyev, CEO of Russian state defense export agency Rosoboronexport, said at a joint meeting of two industry groups.

"One of the key current trends in military-technical cooperation is the rising global interest in technology partnerships. According to our estimates, the share of such projects will double by 2030 and account for 40% of the entire global arms market," the Russian state arms exporter quoted Mikheyev as saying in a press release. Rosoboronexport, which is a subsidiary of Rostec State Corporation, has "an impressive portfolio of completed and current projects for all services of the Armed Forces," he added.

Since 2000, Rosoboronexport has signed two major contracts with India, including for the licensed production of the Su-MKI fighter jet and Russian tanks, Mikheyev said. Also, India has been manufacturing Russian BMP-2 infantry fighting vehicles, as well as 125mm Mango rounds and Invar gun-launched missiles.

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