In this article we are going to list the 5 largest defense contractors in the world in 2022. For a detailed coverage of this topic and a more comprehensive list please take a look at the 15 largest defense contractors in the world in 2022.
5. China North Industries Group
Total revenue (in millions of dollars): 81,785
Total profits (in millions of dollars): 1,742
Total assets (in millions of dollars): 76,538
Total number of employees: 213,957
The Chinese state-owned defense company kicks off our top five defense contractors in the world in 2022. Headquartered in Beijing, the unimaginatively named China North Industries Group was established in 1980 and has the highest number of employees of any defense company. The company has often been sanctioned by the United Staes, with the first sanctions being imposed in 1993 and is currently under sanctions imposed by President Trump, which have been continued by President Biden.
4. Airbus
Total revenue (in millions of dollars): 61,658
Total profits (in millions of dollars): 4,981
Total assets (in millions of dollars): 121,712
Total number of employees: 126,495
While its known more for the production of commercial aircraft, Airbus is also the biggest defense contractor in Europe. The multinational corporation entered the defense industry in the 90s. Airbus engages in five segments in the defense sector, namely land, air, sea, space and cyber. The company has also been engaged in the production of fighter aircraft and unmanned aerial systems.
3. Lockheed Martin Corporation (NYSE:LMT)
Total revenue (in millions of dollars): 67,044
Total profits (in millions of dollars): 6,315
Total assets (in millions of dollars): 50,873
Total number of employees: 114,000
Lockheed Martin Corporation (NYSE:LMT) has long been among the biggest defense contractors and has continued to maintain its dominance in the field, recording the highest revenues of any defense company in the United States, and tops the list of US federal government defense contractors, in 2013, it received nearly 10% of all funds disbursed by the Pentagon. Lockheed Martin Corporation (NYSE:LMT) has received the prestigious Collier trophy 6 times. Currently responsible for the development of the F-35 Lightning II, which is considered to be the cornerstone of NATO and the United States military for the next several decades over the course of the 21st century.
2. Aviation Industry Corp. of China
Total revenue (in millions of dollars): 79,322
Total profits (in millions of dollars): 855
Total assets (in millions of dollars): 194,497
Total number of employees: 380,000
The biggest defense contractor in China, the Aviation Industry Corp. of China is a state-owned company which has over a hundred subsidiaries. The company was in the news for negative reasons in 2009, when the Wall Street Journal reported that the Chinese had stolen technology regarding the Joint Strike Fighter program, and the Aviation Industry Corp. of China incorporated this technology in its fighter jets.
1. Raytheon Technologies Corporation (NYSE:RTX)
Total revenue (in millions of dollars): 64,388
Total profits (in millions of dollars): 3,864
Total assets (in millions of dollars): 161,404
Total number of employees: 174,000
While it didn’t top any individual metrics, overall, Raytheon Technologies Corporation (NYSE:RTX) tops the list of the 15 biggest defense contractors in the world. Raytheon Technologies Corporation (NYSE:RTX) is an American company which provides intelligence services in addition to various products, including air defense systems, missiles, satellites, drones, aerostructures and cybersecurity. Formed by the merger of United Technologies and Raytheon Company in 2020, Raytheon Technologies Corporation (NYSE:RTX) is a defense behemoth.
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