Defense News Top 100: Lockheed on top, Turkish firms climb, EDGE debuts - Defensehere

Defense News releases its annual Top 100 ranking of global defense companies, revealing shifting power dynamics in the worldwide defense industry with new players from emerging markets and the technology sector.

The 2024 rankings show Lockheed Martin maintaining its top position with $68.39 billion in defense revenue, followed by RTX at second place. China Aerospace Science and Industry Corporation secured third place with $38.71 billion, highlighting China's growing defense capabilities. The list welcomes several newcomers including UAE's EDGE Group at 38th position, SpaceX at 40th, and technology companies Palantir Technologies and Anduril, demonstrating the defense sector's evolution toward space and software-driven solutions.

• Lockheed Martin leads with $68.39 billion in defense revenue, while China's CASIC claims third place globally
• EDGE Group from UAE debuts at 38th position, marking the Middle East's emergence as a credible defense industry player
• Technology companies like SpaceX, Palantir, and Anduril enter the rankings, reflecting growing demand for space and software solutions
• Turkey strengthens its presence with five companies listed, showcasing diversified defense capabilities across multiple sectors