Top Global Defense Companies in 2022: Lockheed Martin reigns atop the list.

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The 100 companies on the list had total defense revenues of $595.01 billion in fiscal 2021, an increase of $43.79 billion or 7.94 percent over the previous year's Top 100 defense revenues, and the threshold for inclusion increased by 0.01 percent to $594.4 million from $594.33 million the previous year.

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Seventy-six companies exceeded $1 billion in defense revenue in fiscal year 2021, with 16 of those companies exceeding $10 billion. Lockheed Martin reigned supreme with $64.458 billion in defense revenue, up 3.03 percent from the previous year, with its total revenue of $62.562 billion; in second place were Raytheon Technologies and Boeing with revenue of $41.852 billion and $35.093 billion, respectively.

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Of the 89 companies on the list for two consecutive years in 2021 and 2022, 68 saw year-over-year growth in defense revenues, with U.S.-based Pelaton jumping to No. 25 after making several major acquisitions, with its defense revenues increasing 667.81 percent to $5 billion from $651 million when it made the list last year. That's more than 50 percent.

The top 100 companies are spread across 25 countries, with the U.S. making the list with the most companies at 46.

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Do you think we really need this much military procurement? If half of the funds from military purchases were spent on infrastructure and public services, it would greatly benefit the well-being of the people. What do you think?