Fastest Growing Ukrainian Defense Company Climbs to 49th Place in Global Defense Ranking

For the first time, Ukroboronprom Ukrainian Defense Company entered the list of the 50 best global defense companies according to the Defense News portal. The company took 49th place.

The ranking is compiled by Defense News every year. Ukroboronprom took 65th place last year, now jumping 16 places forward.

Ukroboronprom is a strategic producer of weapons and military equipment in Ukraine. The company unites state unitary enterprises, including state-owned enterprises, in strategic branches of the state's defense industry, which employ more than 54,000 highly qualified workers.

The Minister of Strategic Industries Oleksandr Kamyshin stated that out of the hundred largest defense companies in the world, Ukroboronprom is the fastest growing one. Its revenue for 2023 grew by 72% to $2.2 billion. 

“Of course, no ranking is our goal today, and this rapid development is unfortunately a critical necessity,” Kamyshin stated.

In Kamyshin’s opinion, after the victory over Russia, the defense industry can become one of the most important export directions of Ukraine.

“The goal of the entire Ukrainian defense industry is one, to produce as many weapons as possible for the Defense Forces, to produce them as quickly as possible and with the highest possible quality, to adapt and modernize every minute in order to save the lives of our soldiers and make all Russians who invaded our land good Russians. Quickly, qualitatively and efficiently,” the Minister added.