Overview
- European suppliers’ revenues rose 13% to $151 billion as countries rearmed and restocked linked to Ukraine.
- U.S. firms dominated with 39 companies generating $334 billion, up 3.8%, led by Lockheed Martin, RTX and Northrop Grumman.
- Manufacturers reported delivery delays and higher costs, including setbacks on the F-35 and Columbia submarine programs and sourcing shifts away from Russian titanium under Chinese export curbs.
- Regional trends diverged as Asia–Oceania fell 1.2% to $130 billion, while Russia’s Rostec and United Shipbuilding rose 23% to $31.2 billion on domestic demand; Czech group Czechoslovak Group jumped 193% to $3.6 billion.
- Nine Middle Eastern companies ranked in the top 100, with three Israeli firms up 16% to $16.2 billion as demand persisted during the Gaza war, and SpaceX’s defense revenue more than doubled to $1.8 billion.