Rankings
Top 100 Defense Contractors 2023
The world's 100 largest defense contractors, ranked by reported defense revenue for fiscal year 2023. Figures are drawn from company filings, the Defense News Top 100, and the SIPRI Top 100 Arms-Producing and Military Services Companies database, and are rounded-sm to the nearest million US dollars.
- Companies
- 100
- Countries
- 27
- Combined defense revenue
- $612B
Showing 100 of 100 contractors.
| # | Company | Country | Headquarters | Defense revenue (2023) | Notes |
|---|---|---|---|---|---|
| 1 | Lockheed Martin(LMT) | United States | Bethesda, MD | $64.65B | |
| 2 | RTX (Raytheon Technologies)(RTX) | United States | Arlington, VA | $40.64B | |
| 3 | Northrop Grumman(NOC) | United States | Falls Church, VA | $35.21B | |
| 4 | Boeing (Defense, Space & Security)(BA) | United States | Arlington, VA | $32.70B | |
| 5 | General Dynamics(GD) | United States | Reston, VA | $30.40B | |
| 6 | BAE Systems(BA.L) | United Kingdom | London | $28.34B | |
| 7 | AVIC (Aviation Industry Corp of China) | China | Beijing | $20.99B | SIPRI estimate; state-owned |
| 8 | NORINCO | China | Beijing | $19.58B | SIPRI estimate; state-owned |
| 9 | Airbus (Defence and Space)(AIR.PA) | Netherlands / Pan-European | Leiden | $14.70B | |
| 10 | L3Harris Technologies(LHX) | United States | Melbourne, FL | $14.39B | |
| 11 | Leonardo(LDO.MI) | Italy | Rome | $13.95B | |
| 12 | CASC (China Aerospace Science & Technology Corp) | China | Beijing | $12.19B | SIPRI estimate; state-owned |
| 13 | HII (Huntington Ingalls Industries)(HII) | United States | Newport News, VA | $11.45B | |
| 14 | Thales(HO.PA) | France | Paris | $11.24B | |
| 15 | Leidos(LDOS) | United States | Reston, VA | $10.98B | |
| 16 | CSSC (China State Shipbuilding Corp) | China | Beijing | $10.86B | SIPRI estimate; state-owned |
| 17 | CETC (China Electronics Technology Group) | China | Beijing | $9.93B | SIPRI estimate; state-owned |
| 18 | Rolls-Royce (Defence)(RR.L) | United Kingdom | London | $9.42B | |
| 19 | MBDA | Pan-European | Le Plessis-Robinson | $4.92B | Joint venture: Airbus, BAE, Leonardo |
| 20 | Booz Allen Hamilton(BAH) | United States | McLean, VA | $8.91B | |
| 21 | Honeywell (Aerospace Defense)(HON) | United States | Charlotte, NC | $5.79B | |
| 22 | Safran(SAF.PA) | France | Paris | $5.39B | |
| 23 | Mitsubishi Heavy Industries(7011.T) | Japan | Tokyo | $5.05B | |
| 24 | Rheinmetall(RHM.DE) | Germany | Düsseldorf | $5.36B | |
| 25 | Dassault Aviation(AM.PA) | France | Paris | $4.87B | |
| 26 | Hanwha Aerospace(012450.KS) | South Korea | Seoul | $4.62B | |
| 27 | Korea Aerospace Industries (KAI)(047810.KS) | South Korea | Sacheon | $2.55B | |
| 28 | LIG Nex1(079550.KS) | South Korea | Seongnam | $2.16B | |
| 29 | Hyundai Rotem(064350.KS) | South Korea | Changwon | $1.73B | |
| 30 | Israel Aerospace Industries (IAI) | Israel | Lod | $5.35B | State-owned |
| 31 | Elbit Systems(ESLT) | Israel | Haifa | $5.97B | |
| 32 | Rafael Advanced Defense Systems | Israel | Haifa | $3.54B | State-owned |
| 33 | Saab(SAAB-B.ST) | Sweden | Stockholm | $4.69B | |
| 34 | Kongsberg Defence & Aerospace(KOG.OL) | Norway | Kongsberg | $1.84B | |
| 35 | Naval Group | France | Paris | $4.66B | State-controlled |
| 36 | KNDS (Nexter + KMW) | France / Germany | Amsterdam | $3.50B | Land-systems JV |
| 37 | Diehl Defence | Germany | Überlingen | $1.98B | |
| 38 | Hensoldt(HAG.DE) | Germany | Taufkirchen | $1.98B | |
| 39 | ThyssenKrupp Marine Systems | Germany | Kiel | $1.88B | |
| 40 | Fincantieri(FCT.MI) | Italy | Trieste | $2.36B | |
| 41 | Indra Sistemas(IDR.MC) | Spain | Madrid | $1.56B | |
| 42 | Navantia | Spain | Madrid | $1.49B | State-owned |
| 43 | Babcock International(BAB.L) | United Kingdom | London | $4.81B | |
| 44 | QinetiQ(QQ.L) | United Kingdom | Farnborough | $1.98B | |
| 45 | Serco (Defence)(SRP.L) | United Kingdom | Hook | $1.75B | |
| 46 | Cobham Mission Systems | United Kingdom | Dorset | $1.32B | |
| 47 | Chemring Group(CHG.L) | United Kingdom | Romsey | $590M | |
| 48 | Ultra Electronics | United Kingdom | London | $1.09B | |
| 49 | CACI International(CACI) | United States | Reston, VA | $6.70B | |
| 50 | Science Applications International (SAIC)(SAIC) | United States | Reston, VA | $6.65B | |
| 51 | ManTech International | United States | Herndon, VA | $2.62B | Acquired by Carlyle 2022 |
| 52 | Peraton | United States | Reston, VA | $7.00B | Private (Veritas Capital) |
| 53 | Amentum(AMTM) | United States | Chantilly, VA | $6.79B | |
| 54 | KBR (Government Solutions)(KBR) | United States | Houston, TX | $4.47B | |
| 55 | Parsons Corporation(PSN) | United States | Centreville, VA | $3.29B | |
| 56 | V2X(VVX) | United States | McLean, VA | $3.96B | |
| 57 | Textron (Bell + Systems)(TXT) | United States | Providence, RI | $4.15B | |
| 58 | Curtiss-Wright (Defense)(CW) | United States | Davidson, NC | $1.40B | |
| 59 | Mercury Systems(MRCY) | United States | Andover, MA | $830M | |
| 60 | AeroVironment(AVAV) | United States | Arlington, VA | $720M | |
| 61 | Kratos Defense & Security Solutions(KTOS) | United States | San Diego, CA | $1.06B | |
| 62 | Palantir Technologies (Government)(PLTR) | United States | Denver, CO | $1.23B | |
| 63 | Anduril Industries | United States | Costa Mesa, CA | $500M | Private; estimate |
| 64 | Shield AI | United States | San Diego, CA | $150M | Private; estimate |
| 65 | Hanwha Ocean (formerly DSME)(042660.KS) | South Korea | Seoul | $2.21B | |
| 66 | Poongsan(103140.KS) | South Korea | Seoul | $1.29B | |
| 67 | Korea Defense Industry | South Korea | Daejeon | $720M | |
| 68 | NEC (Defense)(6701.T) | Japan | Tokyo | $1.85B | |
| 69 | Kawasaki Heavy Industries(7012.T) | Japan | Tokyo | $1.64B | |
| 70 | Subaru (Aerospace)(7270.T) | Japan | Tokyo | $800M | |
| 71 | Hindustan Aeronautics (HAL)(HAL.NS) | India | Bengaluru | $3.70B | State-owned |
| 72 | Bharat Electronics(BEL.NS) | India | Bengaluru | $2.37B | |
| 73 | Bharat Dynamics(BDL.NS) | India | Hyderabad | $290M | |
| 74 | Mazagon Dock Shipbuilders(MAZDOCK.NS) | India | Mumbai | $1.18B | |
| 75 | Cochin Shipyard(COCHINSHIP.NS) | India | Kochi | $460M | |
| 76 | Rostec / United Aircraft Corp | Russia | Moscow | $8.95B | SIPRI estimate; sanctioned |
| 77 | Almaz-Antey | Russia | Moscow | $8.06B | SIPRI estimate; sanctioned |
| 78 | Tactical Missiles Corp (KTRV) | Russia | Korolyov | $3.70B | SIPRI estimate; sanctioned |
| 79 | United Shipbuilding Corp (USC) | Russia | Moscow | $3.85B | SIPRI estimate; sanctioned |
| 80 | Russian Helicopters | Russia | Moscow | $1.88B | SIPRI estimate; sanctioned |
| 81 | ASELSAN(ASELS.IS) | Türkiye | Ankara | $2.64B | |
| 82 | Turkish Aerospace Industries (TUSAŞ) | Türkiye | Ankara | $2.38B | |
| 83 | Baykar Technologies | Türkiye | Istanbul | $1.80B | Private; Bayraktar UAVs |
| 84 | Roketsan | Türkiye | Ankara | $1.40B | |
| 85 | STM Defence Technologies | Türkiye | Ankara | $460M | |
| 86 | Embraer Defense & Security(ERJ) | Brazil | São José dos Campos | $1.06B | |
| 87 | Avibras | Brazil | São José dos Campos | $300M | |
| 88 | Denel | South Africa | Centurion | $230M | State-owned |
| 89 | Paramount Group | South Africa | Johannesburg | $480M | Private |
| 90 | PGZ (Polska Grupa Zbrojeniowa) | Poland | Radom | $1.84B | State-owned |
| 91 | WB Group | Poland | Ożarów Mazowiecki | $410M | |
| 92 | Patria | Finland | Helsinki | $690M | |
| 93 | Nammo | Norway | Raufoss | $740M | |
| 94 | Damen Naval | Netherlands | Vlissingen | $620M | |
| 95 | Czechoslovak Group (CSG) | Czech Republic | Prague | $1.73B | Private; ammunition |
| 96 | Excalibur Army | Czech Republic | Šternberk | $320M | |
| 97 | Aselsan Middle East | United Arab Emirates | Abu Dhabi | $220M | |
| 98 | EDGE Group | United Arab Emirates | Abu Dhabi | $3.45B | State-owned |
| 99 | Saudi Arabian Military Industries (SAMI) | Saudi Arabia | Riyadh | $1.10B | State-owned (PIF) |
| 100 | Australian Defence Apparel / NIOA Group | Australia | Brisbane | $480M | Munitions distribution |
How the ranking is built
The list is constructed from each company's reported defense-segment revenue for fiscal year 2023. Where a contractor reports in a non-USD currency, figures are converted at average annual exchange rates. Where a contractor — typically a Chinese or Russian state-owned enterprise — does not publish defense revenue, we use the SIPRI estimate. Conglomerates such as Boeing, Airbus, Honeywell and Rolls-Royce are included on the basis of their defense segment only, not group revenue.
What the 2023 ranking shows
The top of the list remains dominated by the five US primes — Lockheed Martin, RTX, Northrop Grumman, Boeing and General Dynamics — together accounting for more than $200 billion in defense revenue. European primes BAE Systems, Airbus Defence and Space, Leonardo and Thales sit in the upper tier, while South Korean exporters Hanwha Aerospace, KAI and LIG Nex1 continue to climb on the back of large-ticket sales to Poland, Australia and the Middle East. Israeli firms Elbit and IAI hold steady. Newer entrants Anduril, Shield AI and Palantir's government business are growing fast from a smaller base, reflecting the shift toward autonomy, software-defined warfare, and AI-enabled command and control.
Sources
- Defense News Top 100 (2024 edition, reporting FY2023).
- SIPRI Top 100 Arms-Producing and Military Services Companies in the World, 2023 dataset.
- Company annual reports and 10-K / 20-F filings.
Last updated 2026-06-19. Corrections: editors@worldpeacedefense.news.