Friday, July 16, 2021

Indian State-Run HAL Beats Rafael, Hyundai In The World’s Top Defense Firm Rankings

Although the Covid-19 pandemic slowed down businesses around the world, the defense sector has rebounded to historic highs as the world continued to witness armed conflicts between nations. 

For instance, the Nagorno-Karabakh conflict between Armenia and Azerbaijan took place in the middle of the pandemic. Besides, non-state actors backed by rival powers in Libya, Syria, and Iraq continued to wreak havoc. Israel fought a brief war with Palestine’s Hamas. 

According to the latest data published by Stockholm International Peace Research Institute (SIPRI), there was a 2.6% increase in world military spending in 2020 when the global GDP shrank by 4.4%. 

The Defence News recently released the SPADE Defence Index 2021, a list of Top-100 defense companies in the world. While more than half of the companies are based in the US, a large number of companies from Asia and Europe have also made the cut. 

The EurAsian Times randomly picks ten successful companies from the list:

Maryland-based Lockheed Martin is a global defense and aerospace company. Lockheed tops the SPADE Defense Index with total revenue of $65.3 billion in 2020. The company’s largest sales were in aerospace, which included the sale of tactical aircraft, airlift, and sustainment.

The F-35 fighter jet trumps all other products developed by Lockheed. It is one of the two fifth-generation stealth fighters, F-22 being the second one, also developed by Lockheed. Considered the most advanced jet in the world, the F-35 currently serves in the militaries of 13 nations with recent contracts in Switzerland and Belgium.

16/07/21 Apoorva Jain/EurAsian

To Read the News in full at Source, Click the Headline


Post a Comment