Top 10 Global Defense Companies in 2021 by Revenue

China North Industries Group Corp Ltd, Aviation Industry Corporation of China, Lockheed Martin Corp, Raytheon Technologies Crop, and The Boeing Co are the top 5 defence companies in the world in 2021 by revenue. Collectively, the top 10 global defence companies generated total revenue of $485,508 million with average revenue growth of 7.1%, the highest revenue was generated by China North Industries Group Corp Ltd ($70,289 million), followed by Aviation Industry Corporation of China ($67,897 million), Lockheed Martin Corp ($67,044 million), and the lowest was generated by General Dynamics Corp ($38,469 million). None of the top 10 companies had a revenue decline in 2021, with the highest revenue increase being registered by ThyssenKrupp AG (17.7%), while the lowest revenue increase was being registered by General Dynamics Corp (1.4%), In terms of the geographic split, 4 out of 10 companies are based in North America, while 4 are based in Asia, and the remaining one is based in Europe. They have employed a total of 1,394,518 people in 2021. China-based China North Industries Group Corp Ltd is the leading global defence company by revenue in 2021. The company reported revenues of $70,289 million for the fiscal year ended December 2021 (FY2021), company manufactures weapons for the Chinese defence forces. The company provides armoured vehicles, heavy-duty equipment, special chemicals, ammunition, petrochemicals, long-range suppression weapons, missiles, and opto-electronic products. It also offers technical support services and weapons to the navy, army, air force, strategic support force, armed police, rocket force, and public security unit. The company designs and develops radar devices, OLED, infrared, and low-light products and conducts downstream crude processing, upstream crude oil extraction and crude oil trade activities. It operates through various subsidiaries across China and employed a total of 230,000 people.