Russia's arms exports are expected to hit an all-time high of over $10 billion in 2010, the head of Russia's state-run arms exporter Rosoboronexport said on Thursday, RIA Novosti reported.
In 2009 Russian arms sales were worth $8.5 billion, including $7.4 billion worth via Rosobornexport.
"Rosobornexport currently exports several thousand military products, expanding arms sales by $500-$600 million each year," Anatoly Isaykin told a news conference on the 10th anniversary of the company.
Rosobornexport's portfolio of export orders is estimated at $40 billion, Isaykin said.
Despite constantly expanding arms exports, Russia faces increasing competition on the international arms market from the United States, Germany, France and the United Kingdom as well as Chinese military expansion.
Russia exports weaponry to over 100 countries.
Its main arms customers are India, Algeria, China, Venezuela, Malaysia and Syria. Vietnam also emerged as a key importer after it signed a deal to buy submarines, aircraft and other military hardware from Russia late last year.