Last year, the sales of the world's top 100 defense companies reached an all-time high. This was due to the increased demand for weapons worldwide, particularly in Europe, as the Russia-Ukraine war and the Middle East Gaza conflict occurred simultaneously. The sales of South Korean defense companies, including Hanwha Group, which are among the world's top 100 defense companies, also saw a significant increase.

On the 1st (local time), the Stockholm International Peace Research Institute (SIPRI) in Sweden released the '2024 Top 100 Arms Producing and Military Services Companies Report,' which stated that last year, the total sales of the world's top 100 defense companies increased by 5.9% to USD 679 billion (approximately KRW 999 trillion) compared to the previous year. The report noted, "Sales increased due to rising military expenditures driven by wars in Ukraine and Gaza, and heightened geopolitical tensions in various regions."

In South Korea, the big four defense companies—Hanwha Group, Hyundai Rotem, LIG Nex1, and Korea Aerospace Industries (KAI)—were included in the world's top 100 defense companies for the second consecutive year in 2023. Their combined sales last year amounted to USD 14.1 billion (approximately KRW 21 trillion), an increase of about 31% from the previous year. During the same period, the share of sales by the domestic big four in the world's top 100 companies rose by 0.4 percentage points from 1.7% to 2.1%.

In terms of company rankings, Hanwha Group rose from 24th place in 2023 to 21st place last year, nearing entry into the world's top 20 defense companies. LIG Nex1 and Hyundai Rotem improved their rankings from 73rd to 60th and from 84th to 80th, respectively. KAI fell from 54th to 70th due to a decline in sales.

In the ranking of national sales shares among the world's top 100 defense companies, South Korea ranked 10th with 2.1%, following the United States (49%), China (13%), the United Kingdom (7.7%), Russia (4.6%), and France (3.8%). South Korea's sales share was similar to that of Israel (2.4%), Germany (2.2%), and Japan (2.0%).

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