South Korea’s K-Defense Industry Dominates Global Rankings
K-Defense powerhouses including Hanwha, LIG Nex1, Hyundai Rotem, and Korea Aerospace Industries (KAI) have secured their positions on the prestigious ‘Top 100 Defense Companies for 2026’ list by a prominent US military publication for the second consecutive year.
According to the U.S. defense and security media outlet Defense News, Hanwha made a remarkable leap from 22nd to 16th place. Hanwha recorded a total defense revenue of $10.43 billion (approx. 14.28 trillion KRW) last year, up significantly from $6.81 billion in 2024. Defense revenue accounted for 20% of Hanwha’s total revenue for the year.
Global Standings of South Korean Defense Firms
Defense News ranks global defense companies based on their total defense revenue from the previous fiscal year. Among other South Korean companies, LIG Nex1 climbed one spot to 52nd place with defense revenue reaching $3.02 billion (approx. 4.14 trillion KRW). Hyundai Rotem rose six spots to secure 61st place, while Korea Aerospace Industries (KAI) moved to 74th place.
Globally, American defense giant Lockheed Martin claimed the number one spot with a total defense revenue of $72.13 billion. Other top firms included RTX, General Dynamics, and Northrop Grumman. UK’s BAE Systems ranked 5th, Boeing took 6th, and China’s AVIC placed 7th, followed by L3Harris, Leonardo, and Airbus in the top ten.
