04 Aug Global Defense Market – Good 2020 Performance
How did the global Defense market perform in 2020? Surprisingly, good.
ACCORDING to online newspaper Defense News, the defense revenue for the top 100 defense companies in the world grew for a 5th year in a row, a sign that FY 2020 was good for the industry despite the pandemic.
While the pandemic hit hard on the commercial aerospace industry, defense revenue held steady and are expected to continue so. Revenues for the top 100 Defense companies globally totaled USD $551 Bil, up by roughly 5% from USD $524 Bil in FY 2019, based on 2019’s list.
24 firms of the 100 from Europe (including Turkey and Ukraine, but excluding Russia) made the list – the combined revenue for these companies make up 18% of the list’s total. France is a leading hub for such companies in Europe, including Thales, Safran, Naval Group, Airbus Group, Dassault Aviation, Nexter and more making mark on the list.
The top 10 firms represent more than 50 percent of the defense revenues on this year’s list, and the top 25 firms account for nearly 75 percent.
U.S. firms does have the lion’s share of the revenue as in other years, however, Chinese firms had a strong performance and clearly leading among other APAC firms.
U.S. firms made up six of the top 10 firms, and 11 of the top 25. The combined revenue of the 50 U.S. firms on the Top 100 comprised roughly 56 percent of the list’s total defense revenue. China had a strong showing this year, with seven firms on the list, all in the top 25% and with a combined $95.6 billion in defense revenue.
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