Top 100 Defence Companies
[Estimated defence revenue]
The largest defence companies by the share of revenue that comes from military and security work, for the latest financial year available (mostly 2023).
| Rank | Company | Defence revenue |
|---|---|---|
| 01 | Lockheed Martin LMT United States | $60.3B |
| 02 | RTX Corporation RTX United States | $39.6B |
| 03 | Northrop Grumman NOC United States | $36.8B |
| 04 | Boeing Defense, Space & Security BA Defense, Space & Security + Global Services defense United States | $34.2B |
| 05 | General Dynamics GD United States | $32.0B |
| 06 | BAE Systems BA. United Kingdom | $29.5B |
| 07 | Aviation Industry Corporation of China (AVIC) Chinese state-owned; SIPRI arms revenue China | $20.9B |
| 08 | NORINCO (China North Industries Corporation) Chinese state-owned; SIPRI arms revenue China | $20.6B |
| 09 | L3Harris Technologies LHX United States | $19.4B |
| 10 | China Electronics Technology Group (CETC) Chinese state-owned; SIPRI estimate China | $16.1B |
| 11 | Leonardo S.p.A. LDO.MI Italy | $14.6B |
| 12 | Airbus Defence and Space AIR Germany | $12.5B |
| 13 | China Aerospace Science and Technology Corporation (CASC) Chinese state-owned; SIPRI estimate China | $12.4B |
| 14 | Huntington Ingalls Industries HII United States | $11.5B |
| 15 | Thales Group HO France | $11.2B |
| 16 | Leidos LDOS United States | $10.8B |
| 17 | Booz Allen Hamilton BAH United States | $7.5B |
| 18 | Rheinmetall RHM Germany | $7.0B |
| 19 | Peraton Private United States | $7.0B |
| 20 | Safran SAF France | $6.8B |
| 21 | CACI International CACI United States | $6.7B |
| 22 | Amentum SIPRI 2023, before the Jacobs CMS merger United States | $6.5B |
| 23 | SAIC SAIC United States | $6.5B |
| 24 | EDGE Group UAE state-owned United Arab Emirates | $6.0B |
| 25 | Elbit Systems ESLT Israel | $5.9B |
| 26 | Rolls-Royce Defence RR. United Kingdom | $5.5B |
| 27 | Textron Systems TXT United States | $5.3B |
| 28 | Honeywell Aerospace HON United States | $5.2B |
| 29 | Israel Aerospace Industries Israel | $5.2B |
| 30 | Saab SAAB-B.ST Sweden | $5.1B |
| 31 | GE Aerospace GE United States | $5.0B |
| 32 | MBDA France | $4.8B |
| 33 | Hanwha Aerospace 012450 South Korea | $4.5B |
| 34 | Naval Group France | $4.5B |
| 35 | KNDS Germany | $4.5B |
| 36 | Fincantieri FCT Italy | $4.0B |
| 37 | Parsons Corporation PSN United States | $4.0B |
| 38 | ST Engineering S63 Singapore | $3.8B |
| 39 | Dassault Aviation AM France | $3.8B |
| 40 | V2X VVX United States | $3.8B |
| 41 | Mitsubishi Heavy Industries 7011 Japan | $3.5B |
| 42 | KBR KBR United States | $3.5B |
| 43 | Babcock International BAB United Kingdom | $3.5B |
| 44 | Rafael Advanced Defense Systems Israel | $3.5B |
| 45 | General Atomics Private; estimated United States | $3.5B |
| 46 | TransDigm TDG United States | $3.2B |
| 47 | Hindustan Aeronautics Limited HAL India | $3.2B |
| 48 | Jacobs Solutions J United States | $3.0B |
| 49 | Aselsan ASELS Turkey | $3.0B |
| 50 | Sierra Nevada Corporation Private; estimated United States | $3.0B |
| 51 | Curtiss-Wright CW United States | $2.9B |
| 52 | Korea Aerospace Industries 047810 South Korea | $2.8B |
| 53 | Fluor Corporation FLR United States | $2.5B |
| 54 | Oshkosh Defense OSK United States | $2.5B |
| 55 | TKMS - ThyssenKrupp Marine Systems Germany | $2.5B |
| 56 | Turkish Aerospace Turkey | $2.5B |
| 57 | Navantia Spain | $2.2B |
| 58 | Bharat Electronics Limited BEL India | $2.2B |
| 59 | Kawasaki Heavy Industries 7012 Japan | $2.0B |
| 60 | Serco Defense SRP.L United Kingdom | $2.0B |
| 61 | Hensoldt HAG Germany | $2.0B |
| 62 | Qinetiq QQ United Kingdom | $2.0B |
| 63 | Baykar Technologies Private; estimated Turkey | $2.0B |
| 64 | Nammo Norway | $1.8B |
| 65 | Austal ASB Australia | $1.8B |
| 66 | MTU Defense Engines Germany | $1.5B |
| 67 | Indra Sistemas IDR Spain | $1.5B |
| 68 | Kongsberg Gruppen KOG SIPRI 2023 Norway | $1.5B |
| 69 | Heico HEI United States | $1.5B |
| 70 | MOOG MOG.A United States | $1.5B |
| 71 | Lürssen Germany | $1.5B |
| 72 | Roketsan Turkey | $1.5B |
| 73 | Embraer Defense ERJ Brazil | $1.2B |
| 74 | Palantir Technologies PLTR United States | $1.2B |
| 75 | IHI Corporation 7013 Japan | $1.0B |
| 76 | Anduril Industries Private; estimated United States | $1.0B |
| 77 | Kratos Defense KTOS United States | $0.9B |
| 78 | Poongsan Corporation 103140 South Korea | $0.8B |
| 79 | Mercury Systems MRCY United States | $0.8B |
| 80 | Diehl Defence Germany | $0.8B |
| 81 | Patria Oyj Finland | $0.8B |
| 82 | Tata Advanced Systems India | $0.8B |
| 83 | Havelsan Turkey | $0.8B |
| 84 | AeroVironment AVAV United States | $0.7B |
| 85 | Ducommun DCO United States | $0.7B |
| 86 | Chemring Group CHG United Kingdom | $0.6B |
| 87 | Shield AI Private; estimated United States | $0.5B |
| 88 | Paramount Group Private; estimated South Africa | $0.5B |
| 89 | Scale AI Private; estimated United States | $0.4B |
| 90 | Adani Defence & Aerospace India | $0.4B |
| 91 | Bharat Dynamics Limited BDL India | $0.4B |
| 92 | Martin-Baker Private United Kingdom | $0.4B |
| 93 | Denel South African state-owned; restructuring South Africa | $0.3B |
| 94 | Avon Protection AVON United Kingdom | $0.3B |
| 95 | Skydio Private; estimated United States | $0.3B |
| 96 | Rocket Lab RKLB United States | $0.2B |
| 97 | Helsing Private; estimated. European defense AI. Germany | $0.1B |
| 98 | Epirus Private; estimated. Directed energy. United States | $0.1B |
| 99 | Second Front Systems Private; estimated. Software delivery. United States | $0.1B |
| 100 | Saronic Private; estimated. Autonomous naval. United States | $0.05B |
Method
- Measure
- Estimated defence revenue: income from military contracts, defence products and government security services, in US dollars.
- Period
- Most recent financial year available, mostly 2023 or 2024.
- Sources
- SIPRI Arms Industry Database, Defense News Top 100, annual reports and filings. Figures for private companies are estimates from contract awards and press reports, and are marked.
- Currency
- Converted to US dollars at average annual exchange rates.
- Order
- By defence revenue, then total revenue. Other rankings use different definitions and will differ.