10. CETC
> Arms sales; 2021: $15.0 billion* (approx. 27% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -5.6%
> Company headquartered in: China
> *Note: The arms sales figure for this company is an estimate with a high degree of uncertainty.
9. CASC
> Arms sales; 2021: $19.1 billion* (approx. 44% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +4.2%
> Company headquartered in: China
> *Note: The arms sales figure for this company is an estimate with a high degree of uncertainty.
8. AVIC
> Arms sales; 2021: $20.1 billion (approx. 25% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +9.0%
> Company headquartered in: China
7. NORINCO
> Arms sales; 2021: $21.6 billion (approx. 26% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +10.7%
> Company headquartered in: China
6. BAE Systems
> Arms sales; 2021: $26.0 billion (approx. 97% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -1.0%
> Company headquartered in: United Kingdom
