Top 10 Armored Vehicle Manufacturers
[Ranked by revenue]
Categories: armoured vehicles, main battle tanks, infantry fighting vehicles. Ordered by the most recent annual revenue we hold for each company.
| Rank | Company | Revenue |
|---|---|---|
| 01 | NORINCO (China North Industries Corporation) China | ¥500B |
| 02 | General Dynamics United States GD | $42.3 billion (2023) |
| 03 | BAE Systems United Kingdom BA. | £25.3 billion (2023) |
| 04 | Komatsu Defence Japan 6301 | $27 billion (2023) |
| 05 | Rostec Russia | ₽2.2 trillion (2023) |
| 06 | Rheinmetall Germany RHM | €7.2 billion (2023) |
| 07 | ST Engineering Singapore S63 | SGD 9.5 billion (2023) |
| 08 | Hanwha Aerospace South Korea 012450 | ₩7.8 trillion (2023) |
| 09 | KNDS Germany | €3.8 billion (2023) |
| 10 | Textron Systems United States TXT | $3.4 billion (2023) |
How This List Is Made
- Eligible
- Categories: armoured vehicles, main battle tanks, infantry fighting vehicles. Active companies only.
- Excluded
- Subsidiaries and divisions, so that a parent and its units are not counted twice.
- Ranked by
- Total annual revenue as recorded on each profile, usually for 2023. This is company revenue, not defence revenue. Figures in other currencies are converted to US dollars at approximate average rates to put them in order; the table shows the original figure.
- Coverage
- 22 of 219 eligible companies have revenue data. Companies without it are not ranked.
- Defence revenue
- For a ranking by defence revenue alone, see the Top 100 defence companies.