Ukraine’s Defense Industry on the Global Map
The Joint Stock Company “Ukrainian Defense Industry” (Ukroboronprom) has once again secured a spot in the TOP 100 Defense Companies 2025 ranking, taking 49th place. This marks the company’s second consecutive year in the prestigious list, which is compiled annually based on financial results.
In 2024, Ukroboronprom reported revenues of over $3 billion, reinforcing its position among the top 50 global defense corporations.
Growth That Outpaces Global Trends
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Revenue growth: +36.3% in 2024, compared to the global industry average of 11.2% among the TOP 100.
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Global ranking: 49th place in absolute defense revenue.
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Dynamic performance: 16th place worldwide by defense product revenue growth.
Ukroboronprom’s success highlights both domestic demand for weapons and Ukraine’s expanding role in the international defense sector.
Statement from Leadership
General Director Herman Smetanin credited the achievement to the workforce of the Ukrainian defense industry:
“Behind this figure is the work of more than 56,000 gunsmiths, and I thank each of you for this result. At the same time, we all understand: this is still not enough. So every day we work to increase the production of weapons and military equipment for the Ukrainian army,” said Smetanin.
Global Context: Who Leads the Market
The top three companies in the 2025 ranking remain unchanged:
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Lockheed Martin (USA) – $68.4 billion.
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RTX (USA) – $43.5 billion.
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CASIC (China) – $38.7 billion.
Leaders in growth rates include:
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Anduril (USA) – +138%.
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Askeri Fabrika (Turkey) – +100%.
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SES (Luxembourg) – +93.7%.
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NORINCO (China) – +93.6%.
The TOP 30 fastest-growing companies feature representatives from the USA, China, Turkey, Europe, and South Korea.
Why This Matters for Ukraine
Ukraine’s inclusion in the TOP 100 signals:
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Recognition of Ukraine’s defense industry as a global player.
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Proof of resilience under wartime conditions.
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Increased investor and partner interest in joint defense projects.
Ukroboronprom’s growth reflects Ukraine’s strategic shift from reliance on foreign supplies to building a robust domestic defense industry with export potential.
