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
HTML code to embed chart
Want a bespoke report?
Reach out
Click to copy HTML embed code
Tags
Related Insights
Africa and Asia dominate global terrorism index as Burkina Faso leads rankings; Nigeria ranks 6th most affected worldwide
  • Burkina Faso tops the 2025 GTI ranking with a score of 8.581, the highest globally.
  • African nations make up 6 of the 10 most terrorism-impacted countries in 2025.
  • Pakistan (8.374) and Syria (8.006) are the top-ranking Asian countries on the list.
  • Nigeria ranks 6th globally with a GTI score of 7.658, just behind Niger (7.776)
Nigeria ranked 122nd out of 125 countries and territories in the 2023 World Internal Security and Police Index (WISPI)
  • WISPI measures how well police and internal security systems serve the public through capacity, process, legitimacy, and outcomes.
  • The 2023 index ranked 125 countries and territories using 12 indicators.
  • A score of 1 signals strong trust and safety. A score of 0 signals failure and abuse.
  • Sub-Saharan Africa had the lowest average score at 0.369 across 33 countries.
  • Finland, Norway, Singapore, Netherlands, and Denmark topped the index with high trust and low crime.
  • Venezuela, Uganda, DRC, Nigeria, and Madagascar ranked lowest due to bribery, underreporting, and weak outcomes.
  • In Nigeria, just 0.05% of thefts were reported and 81% of survey respondents admitted to paying a police officer bribe.
Top countries in Africa by their Firepower Index​
  • Egypt and Algeria dominate the top spots, reflecting their significant military investments and strategic importance in North Africa.
  • Nigeria and South Africa follow, representing West and Southern Africa, respectively.
  • Countries like Ethiopia, Angola, and the DRC have notable military capabilities but face internal challenges that may impact their effectiveness.
  • Kenya and Chad have relatively weaker militaries, though they still play important roles in their respective regions.
The US Tops the Charts as Superpowers Clash in Firepower Rankings
  • The United States holds the strongest military globally, with a Firepower Index of 0.0744, reflecting its superior military resources and capabilities.
  • Russia and China are tied with 0.0788, showcasing their comparable and highly advanced military strengths.
  • India ranks fourth with 0.1184, solidifying its position as a major military power in Asia.
  • South Korea and the United Kingdom follow closely, with 0.1656 and 0.1785, respectively, highlighting their robust defense systems.
  • France, Japan, Turkiye (Turkey), and Italy round out the top 10, with Firepower Indexes ranging from 0.1839 to 0.2164, demonstrating their significant military influence on the global stage.
Military and internal security spending makes up to about 74% of the total economic impact of violence
  • The world spent $19.1 trillion on violence in 2023, accounting for 13.5% of global GDP.
  • Military and internal security spending make up 74% of this cost.
  • Homicides alone cost the global economy $1.34 trillion, highlighting the economic toll of crime beyond loss of life.
  • Private security is now a $1.15 trillion industry, as businesses and individuals invest heavily in safety.
  • Violent crime resulted in $760 billion in economic losses, affecting productivity, businesses, and legal systems worldwide.
  • Spending on security competes with development needs, diverting resources from education, healthcare, and infrastructure.
  • The cost per person globally is $2,380, illustrating how violence impacts individuals, not just governments or corporations.
Mauritius is the most peaceful nation in sub-Saharan Africa and ranks 22nd globally, with a Global Peace Index (GPI) of 1.577.
  • Mauritius leads in Africa, ranking 22nd globally, with the best GPI score in sub-Saharan Africa (1.577).
  • Iceland continues to lead as the most peaceful nation in the world with an impressive GPI of 1.112.
  • Madagascar and Botswana rank 2nd and 3rd in sub-Saharan Africa, with GPI scores of 1.838 and 1.863, respectively.
  • The peace gap is evident, with sub-Saharan Africa’s top scorer, Mauritius, trailing behind global leaders.
  • Despite making the sub-Saharan top ten, Angola ranks 72nd globally, highlighting room for significant improvement.
  • Europe dominates the global top ten peace rankings, showcasing the impact of regional stability and cooperation.
  • Nigeria ranks 38 in the continent and 147 worldwide with a GPI of 2.907
POPULAR TOPICS
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved