Israeli defense firms retain high rankings in world’s top 100

Israel’s largest defense companies maintained their position in Defense News’ ranking of the top 100 global companies for 2024. The combined revenues of the world’s top 100 companies increased by 13% in 2023, after falling by 12% in 2022.

The highest ranked Israeli defense company is Elbit Systems Ltd. (NASDAQ: ESLT; level:ESLT) at No. 22, down one spot from last year’s rankings, with annual revenue of $5.5 billion in 2023, up 10% from $4.9 billion in 2022. Last year, Elbit jumped from No. 31 to No. 21.

Rafael and Israel Aerospace Industries climbed the rankings.

The second highest-ranked Israeli company is Israel Aerospace Industries (IAI), which rose to No. 28 from No. 30 last year. IAI’s total annual revenue from defense sales was $4.4 billion last year, up 9% from 2022. Another major Israeli defense company, Rafael Advanced Defense Systems, rose one spot in the rankings to No. 33, with revenue of $3.8 billion in 2023, up 10% from 2022.

With three defense companies in the top 100, Israel ranks alongside South Korea. The United States has 48 companies in the top 100, China and the United Kingdom have six each, and Germany, France and Turkey have five each.

This article was published in Globes, Israeli Business News – en.globes.co.il – on August 12, 2024.

© Copyright Globes Publisher Itonut (1983) Ltd., 2024.