April 15, 2026 | 08:45 pm
TEMPO.CO, Jakarta - In 2024, U.S. giant Lockheed Martin Corp. leads the world's largest defense companies ranking, generating $64.65 billion in arms sales. The company is known to be a leading contractor for the U.S. Department of Energy and NASA, underscoring how deeply embedded it remains across America's most critical national programs.
Its towering arms revenue is closely tied to the Ukraine conflict, where Lockheed Martin has emerged as a key supplier of weapons to allied forces. According to a 2025 Yahoo! Finance article, Ukraine actively operates Lockheed Martin's Patriot missile systems to defend against Russian missile and drone attacks.
Other iconic platforms driving its dominance include the F-16 Fighting Falcon multirole fighter, the C-130 Hercules military transport, and the P-3 Orion maritime patrol aircraft, as noted by Britannica.
Among U.S. firms, the dominance continues well beyond the top spot. RTX Corporation follows in second at $43.60 billion, while Northrop Grumman rounds out the top three at $37.85 billion.
Just behind is the UK's BAE Systems in fourth place, reinforcing Europe's growing weight in the global defense landscape. China is also making steady inroads, with the Aviation Industry Corp. of China (AVIC) placing eighth at $20.32 billion.
Here are the top 10 largest defense companies in the world by arms revenue, according to data from the Stockholm International Peace Research Institute (SIPRI).
List of the World’s Largest Defense Companies (2024)
Lockheed Martin Corp. | U.S. | $64.65 billion
RTX Corporation | U.S. | $43.60 billion
Northrop Grumman | U.S. | $37.85 billion
BAE Systems | UK | $33.79 billion
General Dynamics | U.S. |$33.63 billion
Boeing | U.S. | $30.55 billion
Rostec | Russia | $27.12 billion
Aviation Industry Corp. | China | $20.32 billion
China Electronics Technology Group | China | $18.92 billion
L3Harris Technologies | U.S. | $16.21 billion
Beyond dominating the ranking of the largest defense companies, the U.S. also remains the undisputed leader among the world's most powerful militaries, followed by Russia, China, and India, among others.
Read: List of Countries Supplying Arms to Israel, Led by the US
Click here to get the latest news updates from Tempo on Google News
