Two Russian companies - VKO Almaz-Antey Concern and Tactical Missiles Corporation (KTRV) - were again included in the rating of 100 largest world manufacturers of military products according to the military publication Defense News. In the rating, the companies took 20th and 42nd places, respectively.
According to Defense News analysts, Almaz-Antey finished 2020 with a revenue of $6,066 million from the sale of military products, the company's total revenue amounted to $6.6 million. Revenues from the sale of military products decreased by 34% compared to 2019 and amounted to 92% of total revenue.
According to the list, Tactical Missiles Corporation ended 2020 with a revenue of $2,919 million from the sale of military products, the total revenue of KTRV amounted to $2,979 million. Revenues from the sale of military products decreased by 16% compared to 2019 and amounted to 98% of total revenue.
"Russia’s two entrants saw steep defense revenue drops between FY19 and FY20. Almaz-Antey’s fell 34 percent, and Tactical Missiles Corporation’s fell 16 percent," said Defense News.
Both Russian companies have again become one of the world's 50 largest manufacturers of military products, despite the fact that according to Defense News their performance has been deteriorating for many years. Almaz-Antey ranked 15th in this rating in 2018, in 2019 - 17th place, in 2020 it came 20th. The KTRV ranked 32nd, 35th and 42nd places, respectively.
Russian analysts pay attention to the fact that Defense News makes a rating based on data* on the sale of military products, and therefore Russian defense enterprises implementing diversification projects will inevitably lose their positions in the rating. The indicators may also be affected by the coronavirus pandemic, and one cannot ignore the political-bias factor that could interfere with their objective assessment.
Companies were contacted by Defense News and asked to fill out a survey reporting their total annual revenue and revenue derived from defense, intelligence, homeland security and other national security contracts.
Currency conversions for non-U.S. firms were calculated using average market conversion rates over each firm’s fiscal year to mitigate the effects of currency fluctuations.
Company adjustments made to 2019 defense revenue during the subsequent year is not reflected unless otherwise noted.