This book offers a sober appraisal of the world trade in naval weapon systems at a time when recent attacks on merchant shipping in the Persian Gulf have kept maritime security at the centre of global attention. At the same time India, outside the international non-proliferation regime, has become the first-ever customer for a nuclear attack submarine. In 1987-88, the most expensive and controversial arms sales were related to naval systems, and yet while regional navies are busy increasing their firepower, the traditional naval powers remain dependent on their sea-borne trade. In particular the book highlights critical areas in which trade in naval systems differs from the sale of land or air systems, and it discusses the implications of these differences.