Abstract

The global arms trade is a massive industry that contributes to violence and conflict around the world, affecting both developed and developing nations. This paper examines how the arms trade has evolved, its economic impact, and its role in global politics. The study also explores the illicit arms trade and its role in increasing global insecurity. To address these challenges, the paper advocates for stricter international regulations, such as through a global arms registry, stricter penalties for weapon diversion, and other pathways. By emphasising the need for ethical practices, this study aims to increase awareness about accountability in the global arms trade.

Keywords: Global Arms Trade, Arms Regulation, Illicit Weapons, Geopolitics, Military Economics, Ethical Concerns, International Security

Introduction

‘Global arms trade’ refers to the production, sale and distribution of military technology. It depends on a host of factors, including geopolitical rivalries, the profit motive of arms manufacturers, and the military-oriented stance and values of various governments. Much like other forms of political power-play, its side-effects are felt the most by the common people.

Supplying military to ally nations has always been a sign of friendship, diplomacy and the implicit signal that a favour is either being returned, or will be expected, in the future. In capitalising this system, countries have given undue attention to the economic benefits over the social costs of the same – for, the arms trade greatly causes great insecurity and drives conflicts, feeding wars and displacing millions.

The uneven economic impact of the same is quite evident, too: the trade allows for the strengthening of already-powerful corporations, while putting already-vulnerable populations at greater risk and diverting resources away from development-geared efforts.

Historical Overview of the Global Weapons Trade

The global arms trade has taken its present form through what is a story of ever-evolving geopolitics and changing market dynamics.

It originated when European traders decided to ship arms to Africa, Asia and the Americas in the 16th and 17th centuries. The Industrial Revolution in the following decades and centuries allowed Europe to advance the manufacturing of weapons using its newly-developed sophisticated technology. Nations in Europe got engaged in an ‘arms race’ in an attempt to outpace their rivals’ technological advancements in weaponry.

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