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The current global market for armaments and military equipment in the second half of the 20th century has went through several transformative stages of its development and has now reached a qualitatively new evolution level. The aim of the study is to analyse the key trends in changing Russia’s positions in the global arms trade, including an assessment of its export and investment potential in defence industry, and opportunities for cooperation with key regional and global partners. It has been shown, that the international competitiveness of the Russian defence industry and the development of its military-technical cooperation with foreign countries continue to be affected by the specific conditions of the industry, in particular: weak susceptibility to major changes in the arms trade; high role of state protectionism; international technology transfer; globalisation of the world economy as a whole. An important role in shaping the current image of the military-technical cooperation is played by the dynamic and constant rearmament of the army, offset services and the partnerships cooperative networks’ formation, on which the flexibility and adaptability of the external economic component of defence industry operations depend. At present, the development of Russia’s armaments and military equipment trade will be mainly driven by the restoration of its lost positions on the global market.

In the Russian Federation, restoring the financial solvency of defence industry companies (DIC) only through systematic debt coverage without a pool of the state institutional efforts and business entities is unlikely. It is indicated by the continuing instability of the global economic system and uncertainty about the prospects for its development, combined with a reduction in the resources available to the state, low profitability of defence industries, and a high level of debt load. In these conditions, the reform of the asset management system in state-owned corporations (SC) of the defence industry, the search for new development models in their clusters and holdings become uncontested. The article shows the directions of transformation of the management system using the example of the state corporation «Rostech»: gradual further consolidation of disparate assets by industry within several years and changes in their managementstructure (formation of unified control centres and design bureaus, specialization centres, competence centres, the introduction of a divisional structure for managing production assets, etc.). The study contains an analysis of the key components of the business strategy of The State Corporation «Rostech» formation of «national champions»; the transition from «point» import substitution to export-oriented; the development of effective cooperation and the creation of national production chains; the servitization of high-tech and knowledge-intensive industries.