Russia Sets Arms Sales Target for 2011

Rosoboronexport, Russia's state-run arms exporter, expects to make up to $9.5bn in arms sales this year, Rosoboronexport head Anatoly Isaikin has said.

"Rosoboronexport's portfolio [of orders] is about $38.5bn; this is the target we hope to meet in three years," he added.

Of the $8.6bn Russian arms exported last year, aircraft and related equipment accounted for 43%, ships and naval equipment 22%, arms and military equipment for ground forces 10%, and air-defence systems 13%.

The company aims to hold on to its position as the world's second-largest arms exporter after the US, according to RIA Novosti.