Tanks, fighter jets, and drones: The global demand for weapons is increasing, with military spending growing at a rate higher than the average. This is due to conflicts and changing geopolitical situations—such as the Russia-Ukraine conflict, the India-Pakistan crisis, etc. Arms manufacturers are the biggest beneficiaries, with the global arms industry currently thriving. According to calculations by the Stockholm International Peace Research Institute (SIPRI), the arms sales of the world's top 100 weapons, ammunition, and military equipment manufacturers reached $632 billion in 2023, an increase of 6.7% compared to the previous year.

Looking at the top ten defense companies globally, it can be seen that most of them are located in the United States and China. Among EU countries, Airbus (joint venture between France and Germany) and Leonardo (Italy) are the largest defense companies, ranking 12th and 13th respectively.

The largest German defense company Rheinmetall, which gained prominence during the Russia-Ukraine conflict, ranks only 26th, with defense sales of $5.5 billion in 2023, despite a 20% increase in Rheinmetall's sales compared to the previous year.

China's weapons at international defense exhibitions

According to data from the Stockholm International Peace Research Institute (SIPRI), the following ten defense companies are the top ten arms manufacturers in 2025.

10th place: China Electronics Technology Group Corporation (CETC)

China Electronics Technology Group Corporation (CETC) is a state-owned enterprise in China. In 2023, the company's total defense equipment sales amounted to $16.05 billion, an increase of nearly 8% compared to the previous year. Weapon sales accounted for only 29% of CETC's total sales.

CETC mainly produces electrical engineering and radar systems

9th place: China North Industries Corporation (Norinco)

This state-owned enterprise had total weapon sales of $20.56 billion in 2023, a decrease of about $2 billion compared to the previous year. Defense business accounts for 27% of this state-owned enterprise's total revenue.

Norinco's tanks

8th place: Aviation Industry Corporation of China (AVIC)

The Aviation Industry Corporation of China (AVIC) is currently China's largest defense enterprise. In 2023, AVIC's total weapon sales amounted to $20.85 billion, slightly higher than the previous year. Defense industry accounts for 25% of AVIC's total revenue.

AVIC's drones

7th place: Russian State Corporation Rostec

Russian State Corporation Rostec is a Russian state-controlled holding company with annual defense business revenue of $21.7 billion, making it the seventh-largest defense company globally. Rostec consists of approximately 700 companies, including aviation consortium OAK and ammunition manufacturer Tecmash. Compared to the previous year, Rostec's defense production increased significantly in 2023, with revenue growth reaching 29%.

Rostec CEO at Dubai exhibition

6th place: BAE Systems

British BAE Systems has long been Europe's largest defense company. This British company was formed in 1999 through the merger of GEC-Marconi and British Aerospace (BAe). In 2023, BAE Systems' revenue was $30.35 billion. This arms company relies almost entirely on defense business, with defense accounting for 98% of its total revenue, the highest proportion among the rankings. BAE Systems specializes in producing fighter jets and submarines.

Typhoon fighter jet

5th place: General Dynamics Corporation

General Dynamics is one of the five American companies on this list. In 2023, this defense company's income from the defense sector grew by 7.4%, reaching $30.2 billion. Armament sales account for 71% of General Dynamics' total revenue. General Dynamics also manufactures missiles and tanks, and built the world's first nuclear-powered submarine, Nautilus, in 1954.

General Dynamics' helicopter

4th place: Boeing

Boeing ranks among the largest defense companies globally, far ahead of European aerospace groups and competitors like Airbus. Boeing's defense sales in 2023 were $31.1 billion, an increase of 6% compared to the previous year. Among the largest U.S. defense companies, Boeing's defense business accounts for the smallest percentage of total revenue, at just 40%.

C-17 Globemaster III

3rd place: Northrop Grumman Corporation

Northrop Grumman Corporation is the third-largest arms manufacturer globally. For this American company, 91% of its total revenue came from defense sales in 2023. Northrop's armament sales reached $35.57 billion, an increase of 10% compared to 2022. However, Northrop Grumman is not the largest defense company in the United States.

X-47B fighter jet

2nd place: Raytheon Technologies Corporation (RTX)

It was formed in 2020 by the merger of Raytheon Company and United Technologies Corporation. Today, the company is simply referred to as RTX. This American defense company is the second-largest defense company globally. In 2023, RTX's total weapon sales amounted to $40.66 billion, accounting for 59% of total sales. RTX's defense sales also increased by 2.7%.

RTX's fighter jet

1st place: Lockheed Martin Corporation

Lockheed Martin has long been the world's largest defense company. Lockheed derives 90% of its total revenue from defense sales: in 2023, the company's total weapon sales exceeded $60.8 billion. Therefore, Lockheed Martin's defense business grew by 2.4% compared to the previous year. The company is active primarily in the aerospace field, with a significant portion of its revenue coming from major contracts signed with the U.S. military.

F22 fighter jet

Rapid Rise of China's Arms Industry

In the recent India-Pakistan conflict, Pakistan Air Force used China's J-10 fighter jets to shoot down India's French Rafale fighter jets, undoubtedly marking an important milestone in China's military-industrial sector. The Swiss Neue Zürcher Zeitung commented that this is the first round of competition between Chinese and Western weapons.

After the news spread, the presence of Chinese weapons in the global arms market showed a sharp upward trend. With price advantages, a politically "neutral" stance, and continuous advancements in military technology, China's arms provide developing countries with an alternative option without Western political conditions attached.

Rapid rise of China's arms industry

Over the past few decades, China's efforts to pursue independent military development have now borne fruit. China now has the capability to independently research and produce modern weapons. China is currently developing sixth-generation fighters simultaneously. These aircraft possess strong early warning capabilities, long-range missile systems, and are almost undetectable on enemy radars.

Despite currently holding only 5.9% of the international arms market, which is less than one-seventh of the U.S. share, much of this is due to China's domestic military modernization requiring sufficient weaponry and equipment, along with the need for practical combat experience and expanded marketing capabilities. Experts predict that the future international arms market will be dominated by two countries: the United States and China.

Original article: https://www.toutiao.com/article/7512070388700938792/

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