When it comes to defence spending, governments across the globe allocate huge budgets to ensure their military readiness. These budgets often go towards purchasing the latest technology and equipment from the world`s biggest defence contractors. These contractors are tasked with delivering cutting-edge solutions to protect their respective nations from external threats.

In this article, we will take a closer look at the biggest defence contractors in the world and explore their contributions in developing advanced defence technologies.

1. Lockheed Martin Corporation

Lockheed Martin is the world`s largest aerospace and defence contractor, generating more than $50 billion in revenue in 2020. The company has a diversified portfolio, ranging from fighter planes to missile defence systems and space exploration. Its notable products include the F-35 Lightning II fighter jet and the THAAD missile defence system.

2. Boeing

Boeing is a multinational corporation that dominates the aviation and defence industries. It is also one of the world`s largest defence contractors, generating over $26 billion in revenue in 2020. Boeing`s defence products include fighter jets, helicopters, satellites, and missile defence systems. The AH-64 Apache helicopter and the B-52 bomber are among its most iconic products.

3. Raytheon Technologies

Raytheon is a leading provider of advanced technologies for the defence, aerospace, and homeland security industries. The company reported more than $29 billion in revenue in 2020. Its primary products include missile defence systems, radar systems, and cybersecurity solutions. Raytheon`s Patriot missile defence system is one of the most widely used missile defence systems globally.

4. BAE Systems

BAE Systems is a UK-based multinational corporation that is one of the world`s largest defence contractors. The company generates more than $23 billion in revenue annually and specializes in aerospace and defence. Its notable products include combat vehicles, fighter jets, and missile systems. BAE Systems has a significant presence in the UK, the US, and Saudi Arabia.

5. Airbus Defence and Space

Airbus Defence and Space is a multinational aerospace and defence corporation that operates in more than 40 countries worldwide. The company generates over $11 billion in revenue annually and is one of the top defence contractors globally. Its primary products include military aircraft, helicopters, and satellite systems. Airbus`s A400M military transport aircraft is a popular product among its customers.

In conclusion, defence spending remains a crucial aspect of national security for governments worldwide. The above-listed companies continue to deliver innovative technologies to support military operations globally. These defence contractors play an essential role in ensuring the security of nations in an increasingly complex geopolitical landscape.