Ukroboronprom enters the TOP-50 defense giants of the world: ranking details

According to hvylya.net: The Ukrainian defense industry is impressing with its achievements! According to the General Director of UOP, Herman Smetanin, in 2024 it occupied the 49th place in the ranking of the 100 largest defense companies in the world. This year, the military production volume of all leaders increased by 11.2% and amounted to $661 billion.

Thus, UOP's defense revenue rose to over $3 billion in 2024, compared to $2.2 billion in 2023. 'This growth of 36.3% significantly exceeds the global average of 11.2% among the TOP 100 defense companies,' explained the CEO.

Ukroboronprom ranked 16th in terms of revenue growth from defense product sales.

Leaders in weapons production and sales

In terms of revenue, the largest are:

• Lockheed Martin ($68.4 billion);
• RTX ($43.5 billion);
• CASIC (China, $38.7 billion).

Meanwhile, the leaders in growth rates were:

• Anduril (USA, +138%);
• Askeri Fabrika (Turkey, +100%);
• SES (Luxembourg, +93.7%);
• NORINCO (+93.6%).

In the TOP-30 most dynamic companies, there were representatives from the USA, China, Turkey, Europe, and South Korea. However, only half of the TOP 100 defense companies (54 companies) showed revenue growth last year, while the rest experienced declines.

'Ukraine is becoming an important player in the global defense industry market. These figures reflect the work of over 56 thousand weapons makers, and I am grateful to each of you for this result. However, we understand that this is still not enough. Therefore, we are working hard to increase the production of weapons and military equipment for the Ukrainian troops,' emphasized Smetanin.

In summary: The Ukrainian defense industry in 2024 demonstrated impressive growth in military production, ranking 49th among the 100 largest defense companies in the world. The General Director of UOP, Herman Smetanin, emphasized the importance of these achievements, but noted the need to continuously improve the level of military equipment for the needs of the Ukrainian troops.