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Ranked: The Largest Aircraft Makers in 2024
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As the aerospace industry continues to refine its craft, several companies and one country stand out as the industry leaders.
This voronoi-style diagram, created by Pranav Gavali, uses data from CompaniesMarketCap.com to show the world’s top 20 publicly-traded aerospace companies by market capitalization as of March 2024.
It’s worth noting that the data in this ranking excludes private companies.
Airbus and Honeywell: Leaders of the Aerospace Industry
The aerospace industry continues to evolve; in 2024, two giants stand above the rest.
| Rank | Name | Market Cap | Country |
|---|---|---|---|
| 1 | Airbus | $136,525,636,766.00 | 🇳🇱Netherlands |
| 2 | Honeywell | $130,925,543,424.00 | 🇺🇸United States |
| 3 | Boeing | $121,105,694,720.00 | 🇺🇸United States |
| 4 | Raytheon Technologies | $120,582,299,648.00 | 🇺🇸United States |
| 5 | Lockheed Martin | $104,607,260,672.00 | 🇺🇸United States |
| 6 | Safran | $89,803,787,471.00 | 🇫🇷France |
| 7 | Northrop Grumman | $68,941,545,472.00 | 🇺🇸United States |
| 8 | TransDigm | $64,780,783,616.00 | 🇺🇸United States |
| 9 | BAE Systems | $48,956,076,504.00 | 🇬🇧United Kingdom |
| 10 | Rolls-Royce Holdings | $41,435,866,697.00 | 🇬🇧United Kingdom |
| 11 | Howmet Aerospace | $27,793,991,680.00 | 🇺🇸United States |
| 12 | Hindustan Aeronautics | $26,800,281,713.00 | 🇮🇳India |
| 13 | Bharat Electronics | $19,002,955,910.00 | 🇮🇳India |
| 14 | MTU Aero Engines | $13,445,520,414.00 | 🇩🇪Germany |
| 15 | Leonardo | $13,084,478,083.00 | 🇮🇹Italy |
| 16 | Kongsberg Gruppen | $11,420,221,707.00 | 🇳🇴Norway |
| 17 | SAAB AB | $10,649,028,423.00 | 🇸🇪Sweden |
| 18 | Elbit Systems | $9,557,457,920.00 | 🇮🇱Israel |
| 19 | Woodward | $8,891,617,280.00 | 🇺🇸United States |
| 20 | Hanwha Aerospace | $7,653,333,655.00 | 🇰🇷South Korea |
With a market capitalization of $136.5 billion, Airbus is the largest aircraft manufacturer in the world. Founded in 1970, this company, legally headquartered in the Netherlands (but with an operational HQ in France), is a dominant force in commercial and military aircraft production.
Honeywell International, founded in 1906 and based in the U.S., holds the second spot with a market cap of $130.9 billion. The company, headquartered in North Carolina, plays a significant role in aerospace and industrial systems.
The United States: A Major Hub for Aerospace Innovation
The United States continues to be a powerhouse in the aerospace sector, with six of the top 10 companies based in the country.
In addition to Honeywell, other major American players like Boeing, Raytheon Technologies, and Lockheed Martin feature prominently in the rankings.
These firms have helped cement the U.S. as a global leader in commercial aviation and defense, collectively contributing hundreds of billions of dollars to the worldwide market.
The Best of the Rest from India to Norway
Beyond the U.S. and Europe, other nations are emerging as aerospace powerhouses. India, now the world’s most populous country, is home to two key players, Hindustan Aeronautics and Bharat Electronics. They have a combined market cap of $45.8 billion.
Meanwhile, Norway has Kongsberg Gruppen, founded in 1814, valued at $11.4 billion and in 16th place on the list.
Countries such as Sweden, Israel, South Korea, Germany, Italy, France, and the United Kingdom also have companies among the top 20. The variance in countries highlights the global nature of the aerospace industry today.
This article was published as a part of Visual Capitalist’s Creator Program, which features data-driven visuals from some of our favorite Creators around the world.