1️⃣ Consistent Growth 📈
👉 Six Years of Climbing Revenue: Top 100 defense companies witnessed growth for a sixth consecutive year.
👉 The Big Five Leaders: Lockheed Martin ($64.4B), Raytheon ($41.8B), Boeing ($35.1B), Northrop Grumman ($31.4B), and General Dynamics ($30.8B) reign supreme.
2️⃣ Global Defense Spending Hits a Historic High 🌎
👉 A Monumental Milestone: Defense spending reached $2.0T in 2021, crossing the $2 trillion mark for the first time.
👉Top Spenders: The U.S., China, India, the U.K., and Russia together make up 62% of expenditures.
👉Fuel for growth: Great power competition, Russian-Ukraine conflict, and geopolitical tensions in the Indo-Pacific signal continued growth.
3️⃣ Breaking Stereotypes about Industry Shape 🧩
👉A Diverse Mix: The Top 100 isn't just large firms; it's a blend of small, medium, and large companies.
👉 Balanced Industry: Around half of the companies fall between $1 billion and $5 billion in revenue, dispelling the notion of a barbell-shaped industry.
4️⃣ Stability in U.S. Rankings 🎖
👉 A Static Future: Current U.S. administration's stance against further industry consolidation means that the ranking of the top 10 U.S firms is here to stay for the foreseeable future.
5️⃣ European Presence and a Canadian Outlier 👀
👉European Dominance: 31 European countries are represented, with BAE Systems - UK ($25.8B), Leonardo - Italy ($13.8B), and Airbus- Netherlands/France ($10.8B) leading.
👉 A Unique Canadian Entry: CAE, the sole Canadian firm, strengthens its standing as a top military training provider with strategic acquisitions of L3Harris’ Military Flight Training in 2021.