Hanwha climbs from 22nd to 16th in one year, with defense sales topping 14 trillion won

LIG Nexone ranks 52nd, Hyundai Rotem 61st and KAI 74th

Lockheed Martin tops list with $72 billion in defense sales; US firms sweep top four

The Hanwha Group headquarters in Jangyo-dong, Seoul. [Provided by Hanwha Construction] The Hanwha Group headquarters in Jangyo-dong, Seoul. [Provided by Hanwha Construction]

Hanwha has climbed six spots in the global defense industry rankings to reach 16th place in a single year, while LIG Nexone, Hyundai Rotem and Korea Aerospace Industries (KAI) also made the list — marking the second consecutive year that all four of South Korea’s major defense firms have appeared in the global top 100.

According to Defense News’ “2026 Top 100 Defense Companies” list released Monday (local time), Hanwha recorded defense sales of $10.44 billion (14.29 trillion won) last year, securing 16th place.

That marks a six-place rise from its 22nd-place ranking announced last year, making it the highest-ranked South Korean company on the list. Hanwha’s defense sales surged from $6.82 billion in 2024 to more than $10.4 billion in 2025 — an increase of nearly $4 billion in a single year. Defense accounted for 20 percent of the company’s total sales last year.

Defense News compiles its rankings based on each company’s defense sales from the prior fiscal year.

LIG Nexone rose one place from last year to rank 52nd, with defense sales of $3.03 billion (4.15 trillion won) last year.

Hyundai Rotem also posted a notable climb, jumping six spots from 67th last year to 61st this year. KAI, by contrast, fell 12 places from 62nd to 74th.

With these results, Hanwha, LIG Nexone, Hyundai Rotem and KAI have all appeared in the global top 100 for two consecutive years.

Lockheed Martin of the United States retained the top spot, with defense sales of $72.14 billion last year.

US firms swept the top four positions, with RTX in second place, General Dynamics in third and Northrop Grumman in fourth.

Britain’s BAE Systems ranked fifth, followed by Boeing in sixth and China’s Aviation Industry Corporation of China (AVIC) in seventh.

L3Harris of the United States placed eighth, Italy’s Leonardo ninth and European aerospace company Airbus tenth, rounding out the global top 10.

As countries around the world increase defense spending amid the war in Ukraine and rising military tensions in the Middle East, South Korean defense firms have been climbing the global rankings on the back of expanding exports. Hanwha’s move into the top 20’s upper tier has further raised the profile of South Korean defense on the world stage.

sjy@heraldcorp.com

This content was produced with the assistance of AI translation services.