The annual Top 100 list of the world’s largest defense industry companies, shared by Defense News and into which Turkey has been making its mark for quite some time with multiple institutions and companies, has been revealed. Aselsan, the pride of our country, also managed to climb the ranks. Here are the rising and falling companies…
Defense News announces Top 100: Aselsan climbs to 47th place!
Looking at last year’s Defense News Top 100 list, we see that three defense industry companies from Turkey were able to make the cut. Moreover, Roketsan was not on this list in previous years. So, the number went up from 2 to 3. This year, Turkey has even managed to place its 4th company in the list, at the 100th spot.
ASELSAN, a company of the Turkish Armed Forces Foundation, has risen by two positions on the list. In the list featuring four Turkish defense industry firms, ASELSAN, which was in 49th place last year, has climbed to 47th place this year. Considering that it first entered the list at the 97th spot in 2006, we can see its progress more clearly.
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| This Year’s Rank | Last Year’s Rank | Company | Country | 2022 Defense Revenue (in millions) | 2021 Defense Revenue (in millions) | Defense Revenue Change | 2022 Total Revenue (in millions) |
|---|---|---|---|---|---|---|---|
| 1 | 1 | Lockheed Martin | U.S. | $63,334.00 | $64,458.00 | -2% | $65,984.00 |
| 2 | 2 | RTX | U.S. | $39,600.00 | $41,852.20 | -5% | $67,100.00 |
| 3 | 4 | Northrop Grumman | U.S. | $32,435.00 | $31,429.00 | 3% | $36,602.00 |
| 4 | 6 | Aviation Industry Corporation of China | China | $30,971.31 | $30,155.22 | 3% | $82,600.10 |
| 5 | 3 | Boeing | U.S. | $30,843.00 | $35,093.00 | -12% | $66,608.00 |
| 6 | 5 | General Dynamics | U.S. | $30,400.00 | $30,800.00 | -1% | $39,400.00 |
| 7 | 7 | BAE Systems | U.K. | $25,238.85 | $25,775.20 | -2% | $26,290.47 |
| 8 | 9 | China North Industries Group Corporation Limited | China | $17,963.66 | $17,711.93 | 1% | $82,778.69 |
| 9 | 10 | L3Harris Technologies | U.S. | $13,927.00 | $14,924.00 | -7% | $17,062.00 |
| 10 | 13 | China South Industries Group Corporation | China | $13,483.91 | $13,744.95 | -2% | $43,472.95 |
| 11 | 12 | Leonardo | Italy | $12,866.12 | $13,878.35 | -7% | $15,501.35 |
| 12 | 15 | Airbus | Netherlands/France | $12,022.44 | $10,853.55 | 11% | $61,480.67 |
| 13 | 17 | HII | U.S. | $10,625.00 | $9,475.00 | 12% | $10,676.00 |
| 14 | 16 | Thales | France | $9,644.49 | $10,212.39 | -6% | $18,510.38 |
| 15 | 18 | China Aerospace Science and Technology Corporation | China | $9,614.35 | $9,344.09 | 3% | $44,929.99 |
| 16 | 19 | Leidos | U.S. | $9,525.00 | $8,032.00 | 19% | $14,396.00 |
| 17 | 21 | Amentum | U.S. | $6,000.00 | $5,900.00 | 2% | $8,600.00 |
| 18 | 22 | Booz Allen Hamilton | U.S. | $5,904.37 | $5,528.51 | 7% | $9,258.91 |
| 19 | 29 | Rheinmetall AG | Germany | $5,060.70 | $4,788.57 | 6% | $6,753.36 |
| 20 | 20 | Dassault Aviation | France | $5,034.01 | $6,151.33 | -18% | $6,642.83 |
| 21 | 31 | Elbit Systems | Israel | $4,972.60 | $4,770.76 | 4% | $5,511.55 |
| 22 | 27 | Rolls-Royce | U.K. | $4,939.51 | $4,972.07 | -1% | $15,695.38 |
| 23 | 23 | Honeywell | U.S. | $4,630.00 | $5,151.00 | -10% | $35,466.00 |
| 24 | 28 | Naval Group | France | $4,586.45 | $4,850.09 | -5% | $4,586.45 |
| 25 | 34 | General Electric | U.S. | $4,410.00 | $4,136.00 | 7% | $76,555.00 |
| 26 | 30 | Hanwha | South Korea | $4,381.23 | $4,786.92 | -8% | $48,328.03 |
| 27 | 33 | CACI International | U.S. | $4,331.33 | $4,185.29 | 3% | $6,202.92 |
| 28 | 26 | Safran | France | $4,214.33 | $4,981.39 | -15% | $20,054.93 |
| 29 | 37 | Israel Aerospace Industries Ltd. | Israel | $4,105.00 | $3,867.00 | 6% | $4,973.00 |
| 30 | 25 | Peraton | U.S. | $4,081.00 | $5,000.00 | -18% | $6,470.00 |
| 31 | 38 | SAIC | U.S. | $3,775.00 | $3,578.00 | 6% | $7,704.00 |
| 32 | 45 | Jacobs | U.S. | $3,730.71 | $2,749.00 | 36% | $14,922.83 |
| 33 | 35 | Saab AB | Sweden | $3,707.69 | $4,107.09 | -10% | $4,165.99 |
| 34 | 41 | Rafael Advanced Defense Systems Ltd. | Israel | $3,449.14 | $3,059.26 | 13% | $3,449.14 |
| 35 | 24 | Mitsubishi Group | Japan | $3,346.00 | $5,004.36 | -33% | $8,738.36 |
| 36 | 40 | KNDS | Netherlands | $3,342.00 | $3,173.85 | 5% | $3,342.00 |
| 37 | NEW | V2X | U.S. | $3,305.16 | $1,768.54 | 87% | $3,669.57 |
| 38 | 32 | KBR | U.S. | $3,094.00 | $4,723.78 | -35% | $6,564.00 |
| 39 | 44 | Bechtel | U.S. | $2,907.00 | $3,000.00 | -3% | $16,800.00 |
| 40 | 39 | Textron Inc. | U.S. | $2,834.00 | $3,219.32 | -12% | $12,869.00 |
| 41 | 47 | TransDigm | U.S. | $2,334.47 | $2,389.00 | -2% | $5,429.00 |
| 42 | 51 | ManTech | U.S. | $2,310.33 | $2,120.25 | 9% | $2,700.00 |
| 43 | NEW | Parker Hannifin | U.S. | $2,300.00 | N/A | N/A | $18,100.00 |
| 44 | 52 | Parsons Corporation | U.S. | $2,212.99 | $1,888.05 | 17% | $4,195.27 |
| 45 | 50 | ST Engineering | Singapore | $2,176.30 | $2,157.72 | 1% | $6,554.29 |
| 46 | 46 | Oshkosh Corporation | U.S. | $2,141.30 | $2,525.60 | -15% | $8,282.00 |
| 47 | 49 | Aselsan A.S. | Turkey | $2,008.79 | $2,250.39 | -11% | $2,155.71 |
| 48 | 48 | Fincantieri S.p.A. | Italy | $1,998.43 | $2,338.69 | -15% | $7,882.76 |
| 49 | 64 | QinetiQ Plc | U.K. | $1,905.56 | $1,502.87 | 27% | $1,905.56 |
| 50 | 53 | Serco | U.K. | $1,857.57 | $1,870.54 | -1% | $5,607.35 |
| 51 | 58 | Hensoldt AG | Germany | $1,798.46 | $1,743.67 | 3% | $1,798.46 |
| 52 | 62 | LIG Nex1 | South Korea | $1,723.30 | $1,590.78 | 8% | $1,723.30 |
| 53 | 60 | BWX Technologies | U.S. | $1,700.20 | $1,605.22 | 6% | $2,232.83 |
| 54 | 61 | Ball Corporation | U.S. | $1,658.00 | $1,599.00 | 4% | $15,300.00 |
| 55 | 65 | Aerojet Rocketdyne Holdings, Inc. | U.S. | $1,655.82 | $1,485.00 | 12% | $2,237.60 |
| 56 | 59 | Korea Aerospace Industries Ltd. | South Korea | $1,570.31 | $1,788.95 | -12% | $2,162.63 |
| 57 | 54 | Sierra Nevada Corp. | U.S. | $1,556.00 | $1,856.00 | -16% | $1,656.00 |
| 58 | 67 | Turkish Aerospace Industries | Turkey | $1,483.70 | $1,302.95 | 14% | $1,839.00 |
| 59 | 63 | Melrose Industries | U.K. | $1,438.32 | $1,544.57 | -7% | $10,130.08 |
| 60 | 66 | Curtiss-Wright Corporation | U.S. | $1,393.50 | $1,383.64 | 1% | $2,557.03 |
| 61 | 69 | Kongsberg Gruppen | Norway | $1,387.84 | $1,288.21 | 8% | $3,318.30 |
| 62 | 70 | Polish Armaments Group | Poland | $1,302.60 | $1,283.66 | 1% | $1,769.30 |
| 63 | 68 | Moog Inc. | U.S. | $1,297.74 | $1,299.48 | 0% | $3,035.78 |
| 64 | 76 | Mitre | U.S. | $1,296.00 | $1,010.00 | 28% | $2,236.00 |
| 65 | 89 | Ukroboronprom | Ukraine | $1,284.65 | $754.57 | 70% | $1,284.65 |
| 66 | 80 | Eaton | Ireland | $1,245.12 | $920.00 | 35% | $20,752.00 |
| 67 | 71 | CAE | Canada | $1,212.03 | $1,277.92 | -5% | $2,550.48 |
| 68 | NEW | Amphenol | U.S. | $1,136.07 | $1,196.39 | -5% | $12,623.00 |
| 69 | 72 | Navantia | Spain | $1,112.48 | $1,163.32 | -4% | $1,414.25 |
| 70 | 74 | Aerospace Corporation | U.S. | $1,106.72 | $1,084.50 | 2% | $1,194.80 |
| 71 | 83 | Teledyne Technologies | U.S. | $1,065.10 | $876.60 | 22% | $5,458.60 |
| 72 | 55 | Kawasaki Heavy Industries ⁵ | Japan | $1,056.18 | $1,848.76 | -43% | $14,431.95 |
| 73 | 73 | Viasat | U.S. | $979.80 | $1,086.72 | -10% | $2,803.30 |
| 74 | 75 | Austal | Australia | $976.21 | $1,083.60 | -10% | $1,036.72 |
| 75 | 87 | Cobham Advanced Electronic Solutions | U.S. | $972.43 | $806.59 | 21% | $1,090.36 |
| 76 | 81 | Mercury Systems | U.S. | $956.90 | $904.69 | 6% | $988.20 |
| 77 | 78 | Maxar Technologies | U.S. | $952.00 | $936.00 | 2% | $1,605.00 |
| 78 | 77 | Howmet Aerospace | U.S. | $906.08 | $944.68 | -4% | $5,663.00 |
| 79 | 98 | Saudi Arabian Military Industries | Saudi Arabia | $900.80 | $604.95 | 49% | $1,082.33 |
| 80 | 86 | Roketsan | Turkey | $873.35 | $814.16 | 7% | $873.35 |
| 81 | 91 | TTM Technologies | U.S. | $870.00 | $742.08 | 17% | $2,500.00 |
| 82 | 85 | HEICO | U.S. | $861.84 | $823.81 | 5% | $2,208.32 |
| 83 | 96 | Diehl Group | Germany | $780.75 | $651.75 | 20% | $3,746.89 |
| 84 | 84 | AAR Corp. | U.S. | $736.20 | $845.90 | -13% | $1,820.00 |
| 85 | 90 | Indra | Spain | $697.47 | $752.35 | -7% | $4,057.76 |
| 86 | NEW | Spirit AeroSystems | U.S. | $649.80 | $585.00 | 11% | $5,029.60 |
| 87 | 88 | Day & Zimmermann | U.S. | $631.41 | $759.54 | -17% | $2,700.00 |
| 88 | NEW | Kratos Defense and Security Solutions | U.S. | $623.70 | $568.05 | 10% | $898.30 |
| 89 | 92 | Woodward, Inc. | U.S. | $599.00 | $711.03 | -16% | $2,382.79 |
| 90 | 97 | Nammo | Norway | $598.96 | $641.04 | -7% | $777.61 |
| 91 | 99 | Patria | Finland | $594.63 | $602.59 | -1% | $660.70 |
| 92 | 94 | Lumen Technologies | U.S. | $585.97 | $687.21 | -15% | $17,478.00 |
| 93 | NEW | MTU Aero Engines AG | Germany | $522.58 | $570.18 | -8% | $5,615.59 |
| 94 | 95 | Battelle | U.S. | $515.88 | $663.00 | -22% | $11,000.00 |
| 95 | NEW | SES S.A. | Luxembourg | $512.04 | $523.16 | -2% | $2,048.16 |
| 96 | NEW | Triumph Group | U.S. | $474.10 | $516.80 | -8% | $1,379.13 |
| 97 | NEW | Hexcel Corporation | U.S. | $465.20 | $434.90 | 7% | $1,577.70 |
| 98 | NEW | Fujitsu | Japan | $450.30 | $674.29 | -33% | $22,619.68 |
| 99 | 100 | Embraer | Brazil | $447.60 | $594.40 | -25% | $4,540.40 |
| 100 | NEW | Askeri Fabrika ve Tersane Isletme A.S. | Turkey | $443.50 | $177.94 | 149% | $443.50 |
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