In 2024, JSC Ukroboronprom earned $3 billion in revenue, allowing the company to take 49th place in the ranking of the world’s 100 largest defense companies.
This was reported on Telegram by Ukroboronprom’s CEO Herman Smetanin.
“In 2024, the company’s defense revenue exceeded $3 billion compared to $2.2 billion in 2023. This represents a growth rate of 36.3%, significantly higher than the global average of 11.2% among the world’s top 100 defense companies,” the message reads.
These results allowed the company to take 49th place in terms of absolute defense revenue in the annual ranking of the world’s top 100 defense companies by Defense News. In terms of revenue growth from the sale of defense products, Ukroboronprom ranked 16th.
The leaders in arms production and sales remain Lockheed Martin (USA, $68.4 billion), RTX (USA, $43.5 billion), and CASIC (China, $38.7 billion).
The leaders in growth rates were Anduril (USA, +138%), Askeri Fabrika (Turkey, +100%), and SES (Luxembourg, +93.7%).
The total volume of military products produced by the world’s 100 largest defense companies in 2024 increased by 11.2%, reaching $661 billion.
Also read: Ukroboronprom signed over 10 agreements at the MSPO exhibition in Poland.
At the same time, only half of the 100 largest defense companies—specifically, 54 companies—grew over the past year. The rest experienced a decline in revenue
