Top Weapons Producers Revealed for 2023

Lockheed Martin of the United States and the Aviation Industry Corporation of China (AVIC) have emerged as the largest weapons producers in the world according to results for 2023. The list of the hundred largest arms-producing companies was published by Defense News.

The total revenue from defense-related economic activities for Lockheed Martin and AVIC exceeded $100 billion. According to the publication, Lockheed Martin earned more than $64.5 billion from arms production in 2023, while AVIC nearly reached $45 billion. Notably, revenue from Lockheed Martin's defense industry operations increased by 2%, whereas AVIC's revenue surged by 45%, up from just $31 billion in 2022.

Six companies from the United States, three from China, and one from the United Kingdom made it to the top ten. This includes Boeing, which secured sixth place with a revenue of $32.6 billion. BAE Systems from the UK earned approximately $27.5 billion in 2023, ranking seventh on the list.

According to Defense News, Lockheed Martin was also the largest company by revenue from defense industry operations in 2022, earning $63.3 billion.