Why did Hanwha rise to No. 16 in the Defense News global defense ranking?

Hanwha moved up six places because its defense revenue surged to about $10.44 billion in 2025 from $6.82 billion a year earlier. That was the largest increase among the four Korean companies on the list.

Which Korean defense companies made the global Top 100 ranking with Hanwha?

LIG D&A, Hyundai Rotem and KAI were also on the list for a second consecutive year. LIG D&A ranked 52nd, Hyundai Rotem 61st and KAI 74th.

What was the state of global defense company rankings beyond the Korean firms?

The ranking was dominated by U.S. defense companies. Lockheed Martin stayed first with $72.14 billion in defense revenue, followed by RTX, General Dynamics and Northrop Grumman.

Korean defense big 4 make global Top 100, led by Hanwha at No. 16

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Summary

Four major Korean defense companies made the world’s top 100 defense companies list, led by Hanwha at No. 16. Hanwha climbed six places on sharply higher 2025 defense revenue, while LIG D&A, Hyundai Rotem and KAI also stayed on the ranking for a second straight year. The ranking was based on defense revenue from the previous year, and U.S. firms still dominated the top positions.

Key Facts

Hanwha ranked 16th with about $10.44 billion in defense revenue in 2025, up from $6.82 billion a year earlier.
Hanwha’s defense revenue rose about 53 percent year-on-year and accounted for 20 percent of its total 2025 revenue of $52.60 billion.
LIG D&A ranked 52nd with $3.03 billion in defense revenue, and defense revenue accounted for 100 percent of its total revenue.
Hyundai Rotem rose to 61st with defense revenue of $2.46 billion, while KAI slipped to 74th after defense revenue fell to $1.86 billion.
Lockheed Martin kept the top spot with $72.14 billion in defense revenue, followed by RTX, General Dynamics and Northrop Grumman.

By Lee Gyu-lee

Published Sep 1, 2026 4:31 pm KST

Hanwha Aerospace's K9 self-propelled howitzer / Courtesy of Hanwha Aerospace

Four major defense companies have secured spots among the world’s top 100 defense companies, with Hanwha climbing six spots to No. 16 on sharply higher defense revenue.

According to this year’s Top 100 ranking released by U.S. magazine Defense News on Monday (local time), Hanwha, LIG Defense & Aerospace (D&A), formerly known as LIG Nex1, Hyundai Rotem and Korea Aerospace Industries (KAI) were all ranked on the list for a second consecutive year.

The annual ranking is based on defense revenue generated in the previous year.

Hanwha Group ranked 16th, with about $10.44 billion in defense revenue in 2025, up from $6.82 billion a year earlier, according to Defense News. Its defense revenue rose about 53 percent year-on-year, marking the largest increase among the four Korean companies in the ranking.

The company moved up from 22nd in last year’s ranking, with defense revenue accounting for 20 percent of its total revenue of $52.60 billion in 2025.

Hanwha Group has been expanding its presence beyond its established markets in Europe, while seeking a broader foothold in the United States. Hanwha Aerospace recently signed a deal with Spanish defense company Indra Sistemas to export K9 self-propelled howitzers.

In the U.S., Hanwha Defense USA was recently selected by the U.S. Army to develop prototypes for the new Mobile Tactical Cannon program based on its K9 mobile howitzer. The contract covers six initial prototypes, with an option for 12 additional systems, and could be worth up to $262.9 million.

Hanwha Philly Shipyard was also selected to build two missile range instrumentation ships for the U.S. Missile Defense Agency under a project valued at about $2 billion. The first vessel is scheduled for delivery in 2030 and is expected to support U.S. missile defense missions, including the Donald Trump administration’s Golden Dome initiative.

LIG D&A ranked 52nd, up one spot from 53rd last year, with defense revenue of $3.03 billion in 2025. The company’s defense revenue accounted for 100 percent of the its total revenue, unchanged from the previous year.

Hyundai Rotem climbed six places to 61st, up from 67th a year earlier, as its defense revenue rose to $2.46 billion from $1.74 billion.

Meanwhile, KAI slipped to 74th from 62nd. Its defense revenue fell to $1.86 billion in 2025 from $1.94 billion a year earlier.

The four companies’ strong showing in the ranking comes as domestic defense exports have gained momentum, particularly in Europe, where systems such as the K9 howitzer and K2 battle tank have secured major orders.

However, the global ranking remained dominated by U.S. defense companies, with Lockheed Martin retaining the top spot with $72.14 billion in defense revenue, followed by RTX, General Dynamics and Northrop Grumman. Britain’s BAE Systems ranked fifth, while Boeing came sixth.

China’s Aviation Industry Corp. of China made its debut in the ranking at No. 7, followed by U.S. defense contractor L3Harris Technologies, Italy’s Leonardo and France’s Airbus.

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