Ukroboronprom made it to the top 50 global defence giants: what revenue the company made
The Ukrainian defence company has shown a real breakthrough over the past year, jumping 16 positions in the rating. Find out what place Ukroboronprom occupies in the world ranking and how much money the company managed to earn
According to the Defense News ranking, Ukroboronprom, the Ukrainian arms concern, has entered the top 50 global defence companies for the first time, showing the fastest annual growth. Here's how much the company earned and which global giants it managed to beat in the ranking.
What growth did Ukroboronprom show over the year?
It is worth noting that the Defence News rating is published annually. And while last year UOP was ranked 65th, now it is 49th, having jumped 16 steps at once.
Revenue from sales of military products in 2023 increased by 72% to $2.2 billion compared to 2022. Therefore, the company has been identified as the fastest growing company in this indicator among the world's 100 leading arms manufacturers.
"Of course, no ranking is our goal today, and this rapid development is caused, unfortunately, by a critical need. The goal of the entire Ukrainian defence industry is the same - to produce as many weapons for the Defence Forces as possible, to produce them as quickly and as efficiently as possible, to adapt and modernise every minute to save the lives of our soldiers and to make all russians who invaded our land good russians. Quickly, efficiently and effectively," said Oleksandr Kamyshyn, Minister of Strategic Industries of Ukraine.
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What does the rating look like in general?
The current ranking is headed by Lockheed Martin, an American company specialising in aircraft construction, aerospace technology, shipbuilding, postal automation and airport logistics.
In second place is the Chinese state-owned aerospace and defence conglomerate Aviation Industry Corporation of China.
The third place is taken by the American Northrop Grumman Corporation, a military-industrial company operating in the field of electronics and information technology, shipbuilding, and aerospace.
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