For the third straight year, overall defense revenues for the Top 100 defense companies in the world have increased, as defense budgets around the globe continue to climb in what has been dubbed a new era of great power competition.
Total fiscal 2018 defense revenues for the Top 100 companies came in at $490 billion, easily eclipsing 2012, the last time the Top 100 combined to top $400 billion.
That growth is largely driven by a first for the Top 100 list since 2001: the inclusion of Chinese defense firms. The list included eight Chinese companies in the top 25 spots, with six in the top 15. Even without eight new Chinese firms, that overall total is down to $393 billion, which would still represent an approximately $17 billion increase over the previous year’s $375 billion total.