U.S. Arms Company Achieves Highest Global Revenue in 2023

According to data from the Stockholm International Peace Research Institute (SIPRI), there were 10 companies producing weapons and military services with the highest arms revenue globally in 2023.

Companies from the United States (US) dominated, occupying the top five rankings.

Lockheed Martin topped the list with revenue of US$60.81 billion in 2023. The company produces aircraft, missiles, helicopters, spacecraft, and related systems and services.

Lockheed Martin's largest markets are the US government, other national governments, and commercial entities.

Second was RTX with US$40.66 billion. Third was Northrop Grumman at US$35.57 billion.

Boeing ranked fourth with US$31.1 billion, followed by General Dynamics in fifth place with revenue of US$30.2 billion.

In its report, SIPRI stated that these top five US companies accounted for almost one-third of the total arms revenue of the top 100 companies in 2023.

In total, 41 US companies in the top 100 list generated revenue of US$317 billion.

Outside the top five US companies, there were companies from the United Kingdom (BAE Systems), Russia (Rostec), and China (AVIC, NORINCO, and CETC).

SIPRI recorded that the top 100 arms companies generated revenue of US$632 billion in 2023. This figure is 2.8% higher than the total revenue of the top 100 companies in 2022.

For information, "country" refers to the country where the company's ownership and control structure is located, i.e., the location of the company's headquarters.

The following is a complete list of the top 10 arms and military services companies with the highest arms revenue in the world in 2023:

1. Lockheed Martin (US) US$60,810,000,000
2. RTX (US) US$40,660,000,000
3. Northrop Grumman (US) US$35,570,000,000
4. Boeing (US) US$31,100,000,000
5. General Dynamics (US) US$30,200,000,000
6. BAE Systems (United Kingdom) US$29,810,000,000
7. Rostec (Russia) US$21,730,000,000
8. AVIC (China) US$20,850,000,000
9. NORINCO (China) US$20,560,000,000
10. CETC (China) US$16,050,000,000

(Read: Israel vs. Iran Military Spending Ratio Over Two Decades)