The article examines current trends in the global arms and military equipment market in the context of the collapse of the bipolar world order. Particular attention is paid to the study of issues related to the development of military-technical cooperation between Russia and foreign countries, the specifics of the formation of the industry for the export of weapons and military equipment of Russian production. The scientific novelty of the work lies in conducting a comprehensive study of the functioning of the system of military-technical cooperation between Russia and foreign countries based on a comparative analysis with approaches to building a military export policy of the main arms exporters. Based on the data provided by the author, the prospects for the development of this industry in the medium term are predicted, taking into account the sanctions pressure exerted by the United States and its satellites.