Top 10 Aerospace and Defense Companies in the APAC in 2021 by Revenue

Hanwha Corp, Mitsubishi Electric Corp, Mitsubishi Heavy Industries Ltd, Fujitsu Ltd, and NEC Corp are the top 5 aerospace and defense companies in the APAC in 2021 by revenue. In aggregate, the top 10 aerospace and defense companies in the APAC region generated revenues of $240,408 million with an average revenue decline of 3.4%. 7 of the top 10 companies had a revenue decline in 2021 except Koito Manufacturing Co Ltd (7.7%), Singapore Technologies Engineering Ltd (7.5%) and Hanwha Corp (3.8%). In terms of the geographic split, 8 out of the 10 top aerospace and defense companies are based in Japan and while others are based in South Korea and Singapore. They employed a total of 645,368 people in 2021. South Korea-based Hanwha Corp is the leading aerospace and defense company in APAC (by revenue). The company reported revenues of $46,181 million for the fiscal year ended December 2021 (FY2021), an increase of 3.8% over FY2020 due to increase in service sales which were primarily attributable to higher sales of approximately $180 million at Aeronautics due to the delivery of differentiated experiences that cater to the evolving consumer lifestyle and residential living. The company manufactures and provides explosives, machinery and trading, and defense products. Its machinery products comprise aerospace equipment, solar products, machine tools, power train, factory automation, plant, and other machinery products. Hanwha offers services such as demolition, cladding, drilling, and blasting. As of December 31, 2020, the company operated through 27 global networks in 22 countries. Japan based Mitsubishi Electric Corp is one of the leading aerospace and defense companies in APAC region (by revenue). It develops, manufactures, and sells electric and electronic equipment for residential, commercial, and industrial applications. It serves information processing and communications, space development and satellite communications, industrial technology, consumer electronics, transportation, energy, and building equipment. The company reported revenue of JPY1,114,951 million for FY2022, which grew 20.3% YoY, and recorded a CAGR of 10.1% during 2020-22. Asia excluding Japan accounted for 24.9% of the company's revenue in FY2022.