Israel's three largest defense companies - Elbit Systems, Israel Aerospace Industries (IAI) and Rafael Advanced Defense Systems have jumped in the 2023 rankings of "Defense News" Top 100 Defense Companies.
Elbit Systems, Israel's leading defense company has extended its lead in 2023, rising to 21 from 31 in the rankings with revenue of $5.511 billion in 2022, up 4% from 2021, of which $4.972 billion (90%) was in defense sales. Elbit has leapfrogged world famous companies like Rolls Royce and is approaching the revenue of French aviation company Dassault.
IAI will also draw satisfaction from the latest rankings. The company jumped from 37 to 29 with 2022 revenue of $4.973 billion, up 6% from 2021, of which 83% was in defense sales. Among the companies that IAI has leapfrogged is Swedish giant Saab.
Rafael jumped from 41 to 34 in the rankings with revenue of $3.449 billion in 2022, up 13% from 2021 with 100% of revenue from defense sales. Among the companies that Rafael has leapfrogged is Japanese giant Mitsubishi.
Published by Globes, Israel business news - en.globes.co.il - on August 10, 2023.
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