Five US companies lead the global arms market with $198.3 billion in revenues, while China emerges as a major competitor with three firms in the top 10

Key Takeaways:

  • Lockheed Martin leads with $60.8 billion in arms revenue.
  • The top ten companies' combined revenue from arms production was $307.3 billion.
  • The top five corporations are all from the United States.
  • BAE Systems, based in the United Kingdom, remains Europe's strongest defence contractor, ranking sixth.
  • Russia and the United Kingdom each have one company among the top ten.
  • China secures three slots in the top 10, with a total revenue of $57.5 billion.

According to the most recent SIPRI rankings, US corporations led the global arms sector in 2023. Lockheed Martin topped the list with $60.8 billion in arms revenues, followed by RTX and Northrop Grumman. Boeing and General Dynamics completed the top five.

The United Kingdom's BAE Systems was Europe's top defence firm, placing sixth globally, while Russia's Rostec came in seventh. China maintained a significant presence, with AVIC, NORINCO, and CETC rounding out the top 10.

Source:

SIPRI Arms Industry Database

Period:

2023
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