No. of Recommendations: 7
List of world valuable defence companies , someone put together. Thought might be useful here. Some are definately missing that should be on there IMHO. But a good starting point nontheless for further research.
The world’s Most Valuable Defense Companies:
🇺🇸 RTX: $183.2 billion
🇺🇸 Honeywell: $144.7b
🇫🇷 Safran: $123.6b
🇺🇸 Lockheed Martin: $111.4b
🇩🇪 Rheinmetall: $89.5b
🇺🇸 General Dynamics: $75.5b
🇬🇧 BAE Systems: $70.5b
🇺🇸 Northrop Grumman: $68.5b
🇫🇷 Thales: $58.9b
🇺🇸 L3Harris Technologies: $43.1b
🇮🇳 Hindustan Aeronautics: $37.9b
🇮🇹 Leonardo: $33.1b
🇮🇳 Bharat Electronics: $31b
🇳🇴 Kongsberg Gruppen: $28.8b
🇫🇷 Dassault Aviation: $27.1b
🇸🇪 SAAB AB: $25.2b
🇮🇱 Elbit Systems: $18.1b
🇹🇷 Aselsan: $15.5b
🇺🇸 Leonardo DRS: $11b
🇩🇪 Hensoldt: $10b
🇺🇸 Huntington Ingalls Industries: $8.9b
🇺🇸 AeroVironment: $7.7b
🇮🇳 Bharat Dynamics: $7.7b
🇪🇸 Indra Sistemas: $6.5b
🇰🇷 LIG Nex1: $6.3b
🇩🇪 H&K AG: $6.1b
🇰🇷 Hanwha Systems: $6b
🇺🇸 Kratos Defense &Security Solutions: $5.4b
🇬🇧 QinetiQ: $3.1b
🇺🇸 Mercury Systems: $2.8b
🇺🇸 VSE Corporation: $2.7b
🇮🇱 NextVision Stabilized Systems: $2.2b
🇺🇸 V2X: $1.5b
🇸🇪 MilDef Group: $1.1b
🇦🇺 DroneShield: $684m
🇬🇧 Avon Protection: $621m
🇺🇸 Red Cat Holdings: $616m
🇺🇸 Sturm, Ruger & Co: $604m
🇮🇱 TAT Technologies: $360m
🇵🇱 Lubawa: $344m
🇺🇸 AMMO: $214m
🇮🇹 Civitanavi Systems: $203m
🇫🇷 NSE SA: $143m
🇦🇺 VEEM Ltd: $82m
📌 Based on May 20, 2025 market capitalization.
No. of Recommendations: 3
I fully agree that many of these companies will see a large increase in sales. I suspect that, in many cases those have already been reflected in price increases. So, the more important question as an investor would be which of them is under-valued compared to their probable increase in profits?
A screen to figure this out would be useful to maximize the probability of investment success.
If none, then our job is to drill downwards in order to find those companies, not generally thought to be military/defense oriented, but who will share in the bounty. Off the top of my head, these might include manufacturers of specific proprietary electrical connectors, chemical mining/manufacturing businesses specializing in compounds associated with explosives. Possibly 3D print shops, even mineral miners.
Anoth field would involve energy infrastructure-oriented companies which stand to be awarded a windfall during the rebuilding of Ukraine.
I guess the trick is to find companies with proprietary moats which have not (yet) been identified with the defense industry.
Jeff
