Russian Helicopters, Uralvagonzavod and KRET have been included on the list of the world's leading defense companies of 2017 compiled by the renowned American magazine Defense News. All three of the Rostec companies increased revenue from the sale of military products.
Russian Helicopters was put in 36th place with revenue of $2.735 billion in 2017, which is 3% higher than in the previous year. Uralvagonzavod’s revenue from defense products came to $1.865 billion, granting it 46th place. Compared to last year, the company increased that figure by 18%. KRET took 48th place, with revenue from the sale of military products worth $1.677 billion, which is 23% more than in 2016.
“Despite the difficult geopolitical situation and the extremely high competition on the market for military-technical cooperation, we are not only retaining leading positions on the market, we are strengthening them,” said Sergey Chemezov (photo), Rostec CEO.
“A key result of work in 2017 was the expansion of the geography of military-technical cooperation to a number of new countries in the Asia-Pacific region and the Middle East,” he added.
Rosoboronexport (part of Rostec), the sole Russian state intermediary agency responsible for the import and export of the full range of defense and dual-use end products, technologies and services, increased arms exports in 2017 to $13.4 billion, compared to $13.1 billion in 2016. The total Rosoboronexport portfolio of orders is about $45 billion.
Rostec is a Russian State Corporation established in 2007 with the purpose of facilitating the development, manufacture and export of high-tech industrial products for both civil and military purposes. It incorporates over 700 entities that currently form 11 holdings operating in the military-industrial complex and 4 holdings active in civilian industries, as well as over 80 directly supervised organizations.
Rostec’s portfolio includes such well-known brands as AVTOVAZ, KAMAZ, Kalashnikov Concern, Russian Helicopters, VSMPO-AVISMA, Uralvagonzavod, and others. Rostec companies are located in 60 regions of the Russian Federation and supply products to the markets of over 100 countries.
In 2017, Rostec’s consolidated revenue reached RUR 1.589 trillion, its consolidated net profit was RUR 121 billion, and EBITDA was RUR 305 billion.
According to Rostec’s Development Strategy, the mission of the Corporation is to ensure Russia’s technological advantage on highly competitive international markets. One of Rostec’s key goals is to implement a new technological way of living and to promote the digitalization of Russia’s economy.