Ukraine’s Ukroboronprom has been ranked 49th in the list of the world’s 100 most powerful defence companies. This is evidenced by the latest ranking of the leading defence companies from the authoritative portal Defence News, reports Komersant ukrainskyi
The 2024 ranking was based on 2023 figures. Ukroboronprom’s revenues from defence production totalled $2.2 billion, up 72% compared to 2022. The Ukrainian company has outperformed such giants as Textron, Honeywell, Safran and Rolls-Royce in this indicator.
Ukraine’s defence sector is showing rapid growth – in last year’s ranking, Ukroboronprom was ranked 65th.
Lockheed Martin remains the undisputed leader in the industry. In 2023, its defence revenues totalled $64.65 billion, accounting for 96% of the company’s total turnover. Lockheed Martin produces a wide range of military equipment, from F-35 fighters to Javelin missile systems.
Aviation Industry Corporation of China, China’s state-owned aircraft manufacturer, is in second place in the ranking. Its defence revenues reached $44.91 billion, accounting for 38% of total turnover, and grew by 45% in 2023. The company is a leading supplier of military aircraft and aerospace systems to the Chinese armed forces, which indicates that China is actively investing in military aviation.
The top three is rounded out by the American corporation RTX (Raytheon Technologies), which specialises in the production of electronic systems, missile weapons and aircraft engines. Its defence revenues in 2023 amounted to $40.6 billion, or 59% of total turnover.
Overall, the ranking of the world’s largest defence companies is dominated by American giants. There are 6 American companies in the top ten, and 47 of the world’s 100 largest defence companies are US companies.