Russia’s defense exports have plummeted by 92% over the past three years, dropping from $14.6 billion in 2021 to just $1 billion in 2024, according to a Jamestown Foundation report published on February 15.
Once a dominant player in the global arms trade, Russia has seen its military export market shrink drastically, with only 12 countries still purchasing its weapons.
War in Ukraine Strains Russia’s Defense Industry
The full-scale invasion of Ukraine has significantly weakened Russia’s ability to produce and deliver military equipment to foreign buyers. The Kremlin has shifted its focus to domestic wartime production, forcing longtime customers to look for alternative suppliers—particularly China.
Russia’s arms sales revenue has steadily declined:
2021: $14.6 billion
2022: $8 billion (a $6.6 billion drop)
2023: $3 billion (a further $5 billion drop)
2024: $1 billion, marking a 92% decline over three years
Additionally, according to the Stockholm International Peace Research Institute (SIPRI), Russia’s global arms exports fell by 53% from 2014–2018 to 2019–2023, highlighting a long-term decline.
Despite its struggles, Russia recently announced its first-ever export contract for its advanced Su-57 fighter jets, with Algeria reportedly becoming the first foreign buyer. However, analysts view this as a desperate attempt to keep Russia’s arms industry afloat, rather than a sign of recovery.
The Kremlin still relies on key defense partners like India, China, and Myanmar, but their long-term commitment remains uncertain as they diversify their military suppliers.
Future of Russian Arms Exports Uncertain
Russia’s state arms exporter, Rosoboronexport, claims to have an order backlog worth $55 billion, but many of these contracts have been indefinitely postponed due to the war.
Meanwhile, Russian defense firms are secretly acquiring Western technology to sustain their production. A state-owned Rostec subsidiary recently secured $7.4 million worth of American and German equipment to expand its electronic warfare capabilities, despite international sanctions.
