Identifying the size of Chinese defense firms in terms of revenue is difficult due to China’s secretive defense spending and the firms themselves. A recent think tank report has estimated that seven Chinese defense firms each surpass $5 billion in defense revenues, a sum that would place them in the top 20 worldwide and surpass any rivals concentrated in one country aside from the U.S. Various estimations have placed these companies on various rungs of the defense company ladder, but a clear upward trend has occurred across the Chinese market in recent years. Analysts have noted that these firms are behind the U.S. in innovation, but have been working to close the gaps through such strategies as the acquisition of foreign companies, hacking, and research.
Source: These 7 Chinese companies each topped $5B in defense sales — and could rival American firms
