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Top Global Defence Firms 2024
December 8 , 2025
16 hrs 0 min
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- In 2024, SIPRI (Stockholm International Peace Research Institute) released the Top 100 Arms-Producing and Military Services Companies ranking.
- Indian Public Sector Undertakings (PSUs) featured among the top 100:
- Hindustan Aeronautics Limited (HAL) – 44th, USD 4,010 million
- Bharat Electronics Limited (BEL) – 58th, USD 2,750 million
- Mazagon Dock Shipbuilders Limited (MDL) – 91st, USD 1,370 million
- Top 3 global companies: Lockheed Martin (USA), RTX (USA), Northrop Grumman (USA).
- The total revenue of the Top 100 companies reached USD 679 billion in 2024.
- India’s total arms revenue in 2024 was USD 7.5 billion, an 8.2% increase from 2023, contributing 1.1% of global arms revenue.
- SIPRI was established in 1966 and headquartered in Stockholm, Sweden.
- It publishes this ranking annually based on arms sales, military products, and related services.
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