Global Top 100 Military Industry Enterprises' Revenue Growth

2024-12-13

According to foreign media reports, on December 2nd, the latest report released by the Stockholm International Peace Research Institute in Sweden showed that the sales performance of the top 100 military enterprises in the world continued to rise in 2023, with sales reaching 632 billion US dollars, a year-on-year increase of 4.2%, reaching a new historical high. Based on this report and relevant foreign media reports, the global arms sales market in 2023 presents many significant characteristics. Firstly, the United States is dominant. In the list, there are a total of 41 military industrial enterprises in the United States, with their arms sales revenue reaching $317 billion, accounting for half of the total revenue on the list, a year-on-year increase of 2.5%. Statistics show that from 2018 to 2022, the United States' arms exports accounted for 40% of the world's total, an increase of 7 percentage points compared to the previous 5 years, far exceeding the second ranked Russia (16%). Since 2018, the top 5 global military companies have been monopolized by American military giants. Among these 41 American companies on the list, 30 achieved an increase in weapon sales revenue in 2023, which indirectly reflects the trend of the United States continuing to strengthen its military power. External comments have pointed out that the United States has effectively promoted its arms sales business by selling "security anxiety" in many parts of the world, such as the Asia Pacific region. It is worth noting that the top two companies on the list, Lockheed Martin and Raytheon Technologies, saw their sales decline by 1.6% and 1.3% respectively, to $60.8 billion and $40.7 billion. Although the order volume of these two companies is showing an increasing trend, their sales have declined, mainly due to their high dependence on complex supply chains for weapon production. In 2023, the supply chains in related fields such as aviation and missiles will face severe challenges, which will have a negative impact on their weapon production process and revenue situation. Secondly, the outlook for Europe is promising. 27 military industrial enterprises in Europe have made it to the top 100 list, with a total revenue of $133 billion, a year-on-year increase of 0.2%, and a global market share of approximately 21%. Although the growth rate is at its lowest level globally, the future growth potential of European military industrial enterprises is widely optimistic by the outside world. This is because the main source of European arms revenue in 2023 comes from the fulfillment of existing contracts and orders, and a large number of orders for new complex weapon systems are still in the process of execution and are not included in the statistical scope. The report shows that under the influence of the Russia-Ukraine conflict and other factors, the orders of military enterprises in Germany, Norway, Poland, Ukraine, the Czech Republic, Sweden and other European countries in artillery, artillery, air defense systems and ground weapon systems have increased. For example, the German company Rheinmetall has significantly increased its production of 155mm shells and driven its own revenue growth by providing new trading projects such as tanks to Ukraine. In addition, the report points out that the scale of Russia's weapons production will continue to expand in 2023, with an increase in the production of fighter jets, helicopters, drones, tanks, ammunition, and missiles as military operations advance. The total revenue of the two Russian military industrial enterprises on the list - Russian State Technology Group and United Shipbuilding Group - increased by 40%, reaching approximately $25.5 billion, with Russian State Technology Group experiencing a growth rate of up to 49%. Once again, Asia is making a name for itself. In the list, there are a total of 23 companies from Asia and Oceania, with a total revenue of 136 billion US dollars, a year-on-year increase of 5.7%, accounting for nearly 21% of the total revenue of global military enterprises. Among them, military enterprises in South Korea and Japan have shown particularly outstanding performance. Four companies from South Korea made the list, with a total sales revenue of 11 billion US dollars and an annual growth rate of 39%; There are 5 Japanese companies on the list, with a total sales revenue of 10 billion US dollars and an annual growth rate of 35%. According to foreign media reports, South Korea has become the ninth largest arms exporting country in the world, not only occupying a place in the European market, but also jointly developing the KF-X fighter jet project with Indonesia. Meanwhile, South Korea is actively competing for a $12 billion armored vehicle procurement contract from Australia. The significant increase in revenue of Japanese military industrial enterprises is due to the explosive growth of domestic orders. Finally, the Middle East is experiencing strong growth. There are 6 Middle Eastern companies on the list, with a total revenue of 19.6 billion US dollars, an increase of 18%. The report states that due to the impact of the Gaza conflict, the total revenue of the three Israeli companies on the list reached a historical high of $13.6 billion. The total revenue of the three companies listed in Türkiye also reached a record $6 billion, an increase of 24%. The report predicts that due to the continued escalation of conflicts in some regions, global arms sales are likely to continue to rise in 2024. While traditional military giants in the United States and Europe continue to make profits, small military manufacturers in some countries may also receive orders. These small military manufacturers may experience a more significant increase in revenue than traditional large military enterprises due to their ability to quickly respond to new market demands. (New Society)

Edit:He ChenXi    Responsible editor:Tang WanQi

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