Ukroboronprom ranks 52nd in ranking of the 100 largest arms manufacturers SIPRI-2024
The joint stock company Ukrainian Defense Industry (Ukroboronprom) ranked 52nd in the ranking of the 100 largest arms manufacturers of the Stockholm International Peace Research Institute (SIPRI) for 2024. This was announced by the General Director of Ukroboronprom Herman Smetanin on Facebook, Ukrainian News Agency reports.
"Key figures: place in the overall rating: 52 out of 100; place in terms of growth rates: 6; revenues in 2024: USD 3.0 billion; growth compared to 2023: +41%," he said.
In total, the 100 largest companies in the world in 2024 received USD 679 billion from arms sales; growth was provided primarily by the United States and Europe; the only regional group with a decline is Asia, mostly due to a decrease in arms revenues in China.
Smetanin noted that 2024 was a record year for the global defense industry, the growth was explained by increased demand in various regions of the world, and for some European companies, the war of the russian federation against Ukraine was an additional factor.
Ranking leaders:
- Lockheed Martin (USA) - USD 64.6 billion (+3.2%)
- RTX Corporation (USA) - USD 43.6 billion (+4.1%)
- Northrop Grumman (USA) - USD 37.8 billion (+3.3%)
- BAE Systems (UK) - USD 33.7 billion (+6.9%)
- General Dynamics (USA) - USD 33.6 billion (+8.1%)
Smetanin noted that Ukroboronprom or the enterprises included in the group have active partnerships with almost each of these companies.
In terms of growth rates, Ukroboronprom ranked sixth in the overall ranking, and also became the fourth company in Europe in terms of growth rates:
- Czechoslovak Group (Czech Republic) - +193%;
- SpaceX (USA) - +103%;
- Mitsubishi Electric (Japan) - +87%;
- Diehl (Germany) - +53%;
- Rheinmetall - (Germany) - +47%;
- JSC Ukrainian Defense Industry (Ukraine) - +41%.
Smetanin noted that the revenues of the two russian companies included in the ranking increased by 23% in 2024; the report records high production volumes of ammunition, artillery, armored vehicles and missiles, despite sanctions and a shortage of imported components.
As Ukrainian News Agency earlier reported, according to SIPRI, the aggressor country of russia reduced its arms exports by almost 50% in the two years after the start of the full-scale invasion of Ukraine, the reason for this was Western sanctions and Moscow's change in priority to equipping its own army with weapons. In 2023, Ukrainian Defense Industry ranked 57th in the SIPRI ranking.
Ukroboronprom first appeared in this ranking in 2011, taking 63rd place.