Research · refreshed nightly · July 28, 2026
Top Defense Tech Companies (July 2026)
Defense technology companies.
Defense went from peace-dividend neglect to procurement surge, and growth among the top defense tech companies now shows up well beyond the famous primes. HEICO, a $38B name compounding 21% a year on both headline and per-share measures, leads at an MGI of 72, ahead of Rheinmetall at 71. Norway's Kitron at 69 and Sweden's MilDef at 67 carry the Nordic end.
Twenty-one companies and a median MGI of 56 make this a deep theme rather than a two-name story. The mix is the striking part: Palantir at $351B sits in the same top ten as $679M MilDef, and most of the top ten shows the scale-economics profile, where margins improve as volumes build. Every company links to a full citation-backed analysis.
50companies qualify
58median MGI
12joined this week
The ranking
Sorted by MGI
1
Goodwin PLCGDWN.GB🇬🇧
Revenue +13%/yr · +13%/yr per share · scale economics
G 76V 59O 80Cap $2.0B
MGI
76
MVI
59
MTI
29
MOI
80
Cap
$2.0B
Growth
+15%2
HEICO CorporationHEI🇺🇸
Revenue +21%/yr · +21%/yr per share · scale economics
G 72V 51O 73Cap $43.8B
MGI
72
MVI
51
MTI
28
MOI
73
Cap
$43.8B
Growth
+25%3
Frequentis AGFQT.AT🇦🇹
Revenue +14%/yr · +14%/yr per share · asset light
G 71V 70O 79Cap $1.1B
MGI
71
MVI
70
MTI
35
MOI
79
Cap
$1.1B
Growth
+21%4
Exosens S.A.EXENS.FR🇫🇷
Revenue +33%/yr · +12%/yr per share · asset light
G 69V 56O 72Cap $3.2B
MGI
69
MVI
56
MTI
42
MOI
72
Cap
$3.2B
Growth
-18%5
RENK Group AGR3NK.DE🇩🇪
Revenue +15%/yr · +251%/yr per share · scale economics
G 68V 58O 72Cap $5.5B
MGI
68
MVI
58
MTI
34
MOI
72
Cap
$5.5B
Growth
+4%6
Bittium OyjBITTI.FI🇫🇮
Revenue +9%/yr · +9%/yr per share · asset light
G 68V 45O 67Cap $1.2B
MGI
68
MVI
45
MTI
44
MOI
67
Cap
$1.2B
Growth
+9%7
Saab ABSAAB.B.SE🇸🇪
Revenue +18%/yr · +17%/yr per share · scale economics
G 67V 53O 68Cap $35.4B
MGI
67
MVI
53
MTI
38
MOI
68
Cap
$35.4B
Growth
-8%8
M-tron Industries, Inc.MPTI🇺🇸
Revenue +16%/yr · +10%/yr per share · scale economics
G 67V 58O 69Cap $368.7M
MGI
67
MVI
58
MTI
42
MOI
69
Cap
$368.7M
Growth
+15%9
Rolls-Royce Holdings plcRR.GB🇬🇧
Revenue +13%/yr · +6%/yr per share · scale economics
G 67V 54O 69Cap $141.5B
MGI
67
MVI
54
MTI
35
MOI
69
Cap
$141.5B
Growth
+12%10
Indra Sistemas, S.A.IDR.ES🇪🇸
Revenue +13%/yr · +15%/yr per share · asset light
G 67V 60O 71Cap $10.3B
MGI
67
MVI
60
MTI
38
MOI
71
Cap
$10.3B
Growth
-47%11
MACOM Technology Solutions Holdings, Inc.MTSI🇺🇸
Revenue +12%/yr · +10%/yr per share · asset light
G 66V 45O 64Cap $19.1B
MGI
66
MVI
45
MTI
48
MOI
64
Cap
$19.1B
Growth
+23%12
Rheinmetall AGRHM.DE🇩🇪
Revenue +11%/yr · +9%/yr per share · asset light
G 66V 54O 68Cap $65.6B
MGI
66
MVI
54
MTI
35
MOI
68
Cap
$65.6B
Growth
-16%13
INVISIO ABIVSO.DK🇩🇰
Revenue +26%/yr · +26%/yr per share · asset light
G 65V 53O 66Cap $1.4B
MGI
65
MVI
53
MTI
31
MOI
66
Cap
$1.4B
Growth
+53%14
LB
Lubawa S.A.LBW.PL🇵🇱
Revenue +19%/yr · +19%/yr per share · scale economics
G 65V 69O 71Cap $343.1M
MGI
65
MVI
69
MTI
33
MOI
71
Cap
$343.1M
Growth
+19%15
Firan Technology Group CorporationFTG.CA🇨🇦
Revenue +20%/yr · +20%/yr per share · scale economics
G 64V 54O 65Cap $444.7M
MGI
64
MVI
54
MTI
38
MOI
65
Cap
$444.7M
Growth
+23%16
MS International plcMSI.GB🇬🇧
Revenue +17%/yr · +18%/yr per share · scale economics
G 62V 56O 64Cap $340.1M
MGI
62
MVI
56
MTI
44
MOI
64
Cap
$340.1M
Growth
+7%17
Safran SASAF.FR🇫🇷
Revenue +17%/yr · +19%/yr per share · scale economics
G 62V 49O 61Cap $158.3B
MGI
62
MVI
49
MTI
33
MOI
61
Cap
$158.3B
Growth
+13%18
RBC Bearings Inc.RBC🇺🇸
Revenue +20%/yr · +16%/yr per share · scale economics
G 61V 45O 59Cap $17.7B
MGI
61
MVI
45
MTI
33
MOI
59
Cap
$17.7B
Growth
+18%19
Palantir Technologies Inc.PLTR🇺🇸
Revenue +28%/yr · +20%/yr per share · asset light
G 61V 46O 59Cap $333.0B
MGI
61
MVI
46
MTI
42
MOI
59
Cap
$333.0B
Growth
+85%20
Kitron ASAKIT.NO🇳🇴
Revenue +21%/yr · +18%/yr per share · scale economics
G 60V 62O 64Cap $1.8B
MGI
60
MVI
62
MTI
48
MOI
64
Cap
$1.8B
Growth
+70%21
Taylor Devices, Inc.TAYD🇺🇸
Revenue +12%/yr · +14%/yr per share · scale economics
G 60V 55O 61Cap $178.5M
MGI
60
MVI
55
MTI
42
MOI
61
Cap
$178.5M
Growth
+6%22
NORBIT ASANORBT.NO🇳🇴
Revenue +28%/yr · +33%/yr per share · asset light
G 59V 59O 61Cap $1.2B
MGI
59
MVI
59
MTI
45
MOI
61
Cap
$1.2B
Growth
+28%23
Woodward, Inc.WWD🇺🇸
Revenue +12%/yr · +14%/yr per share · scale economics
G 59V 42O 56Cap $23.2B
MGI
59
MVI
42
MTI
38
MOI
56
Cap
$23.2B
Growth
+12%24
BAE Systems plcBA.GB🇬🇧
Revenue +25%/yr · +27%/yr per share · scale economics
G 58V 55O 60Cap $72.2B
MGI
58
MVI
55
MTI
38
MOI
60
Cap
$72.2B
Growth
+8%25
Axon Enterprise, Inc.AXON🇺🇸
Revenue +28%/yr · +23%/yr per share · asset light
G 58V 50O 58Cap $38.3B
MGI
58
MVI
50
MTI
43
MOI
58
Cap
$38.3B
Growth
+34%26
Concurrent Technologies PlcCNC.GB🇬🇧
Revenue +17%/yr · +12%/yr per share · asset light
G 58V 53O 59Cap $296.8M
MGI
58
MVI
53
MTI
37
MOI
59
Cap
$296.8M
Growth
+14%27
Carpenter Technology CorporationCRS🇺🇸
Revenue +14%/yr · +13%/yr per share · scale economics
G 58V 31O 46Cap $28.8B
MGI
58
MVI
31
MTI
38
MOI
46
Cap
$28.8B
Growth
+12%28
Planet Labs PBCPL🇺🇸
Revenue +16%/yr · -22%/yr per share · asset light
G 56V 48O 55Cap $7.5B
MGI
56
MVI
48
MTI
44
MOI
55
Cap
$7.5B
Growth
+42%29
Intercede Group plcIGP.GB🇬🇧
Revenue +10%/yr · +9%/yr per share · asset light
G 56V 58O 58Cap $87.5M
MGI
56
MVI
58
MTI
47
MOI
58
Cap
$87.5M
Growth
-11%30
Filtronic plcFTC.GB🇬🇧
Revenue +27%/yr · +24%/yr per share · asset light
G 54V 52O 54Cap $765M
MGI
54
MVI
52
MTI
62
MOI
54
Cap
$765M
Growth
+121%31
Kromek Group plcKMK.GB🇬🇧
Revenue +25%/yr · +10%/yr per share · asset light
G 53V 66O 56Cap $64M
MGI
53
MVI
66
MTI
45
MOI
56
Cap
$64M
Growth
+12%32
Graham Corp.GHM🇺🇸
Revenue +18%/yr · +16%/yr per share · scale economics
G 53V 50O 53Cap $1.0B
MGI
53
MVI
50
MTI
42
MOI
53
Cap
$1.0B
Growth
+13%33
Optex Systems Holdings, Inc.OPXS🇺🇸
Revenue +18%/yr · +22%/yr per share · scale economics
G 52V 56O 53Cap $86M
MGI
52
MVI
56
MTI
55
MOI
53
Cap
$86M
Growth
+18%34
Loar Holdings Inc.LOAR🇺🇸
Revenue +19%/yr · -98%/yr per share · asset light
G 51V 51O 51Cap $6.0B
MGI
51
MVI
51
MTI
36
MOI
51
Cap
$6.0B
Growth
+36%35
EL
Elektrotim S.A.ELT.PL🇵🇱
Revenue +16%/yr · +16%/yr per share · scale economics
G 50V 63O 53Cap $126M
MGI
50
MVI
63
MTI
42
MOI
53
Cap
$126M
Growth
+16%36
Kraken Robotics Inc.PNG.CA🇨🇦
Revenue +33%/yr · +21%/yr per share · asset light
G 49V 53O 50Cap $1.5B
MGI
49
MVI
53
MTI
42
MOI
50
Cap
$1.5B
Growth
+35%37
Haivision Systems Inc.HAI.CA🇨🇦
Revenue +9%/yr · +7%/yr per share · asset light
G 49V 69O 54Cap $84.6M
MGI
49
MVI
69
MTI
48
MOI
54
Cap
$84.6M
Growth
-5%38
CY4Gate S.p.A.CY4.IT🇮🇹
Revenue +25%/yr · +3%/yr per share · scale economics
G 48V 72O 52Cap $193.2M
MGI
48
MVI
72
MTI
62
MOI
52
Cap
$193.2M
Growth
+139%39
Gilat Satellite Networks Ltd.GILT🇮🇱
Revenue +17%/yr · +14%/yr per share · scale economics
G 46V 50O 46Cap $965.4M
MGI
46
MVI
50
MTI
55
MOI
46
Cap
$965.4M
Growth
+20%40
TransDigm Group IncorporatedTDG🇺🇸
Revenue +14%/yr · +14%/yr per share · asset light
G 45V 48O 44Cap $67.9B
MGI
45
MVI
48
MTI
44
MOI
44
Cap
$67.9B
Growth
+18%41
Karman Holdings Inc.KRMN🇺🇸
Revenue +23%/yr · +33%/yr per share · scale economics
G 44V 55O 45Cap $6.7B
MGI
44
MVI
55
MTI
42
MOI
45
Cap
$6.7B
Growth
+51%42
StandardAero, Inc.SARO🇺🇸
Revenue +12%/yr · +9%/yr per share · scale economics
G 44V 51O 44Cap $9.2B
MGI
44
MVI
51
MTI
42
MOI
44
Cap
$9.2B
Growth
+13%43
Amprius Technologies, Inc.AMPX🇺🇸
Revenue +101%/yr · +75%/yr per share · scale economics
G 41V 49O 41Cap $1.4B
MGI
41
MVI
49
MTI
52
MOI
41
Cap
$1.4B
Growth
+185%44
AeroVironment, Inc.AVAV🇺🇸
Revenue +35%/yr · +18%/yr per share · scale economics
G 41V 55O 42Cap $8.8B
MGI
41
MVI
55
MTI
55
MOI
42
Cap
$8.8B
Growth
+133%45
Astronics CorporationATRO🇺🇸
Revenue +15%/yr · +11%/yr per share · scale economics
G 40V 37O 38Cap $3.0B
MGI
40
MVI
37
MTI
42
MOI
38
Cap
$3.0B
Growth
+12%46
Clavister ABCLAV.SE🇸🇪
Revenue +13%/yr · -21%/yr per share · asset light
G 40V 65O 42Cap $96.4M
MGI
40
MVI
65
MTI
42
MOI
42
Cap
$96.4M
Growth
+13%47
Oshkosh CorporationOSK🇺🇸
Revenue +42%/yr · +44%/yr per share · scale economics
G 37V 53O 38Cap $9.4B
MGI
37
MVI
53
MTI
52
MOI
38
Cap
$9.4B
Growth
0%48
Ondas Inc.ONDS🇺🇸
Revenue +102%/yr · +30%/yr per share · scale economics
G 35V 49O 35Cap $4.4B
MGI
35
MVI
49
MTI
52
MOI
35
Cap
$4.4B
Growth
+102%
Changed this week
Week over week, from the nightly refresh.
Entered
Safran SA (SAF.FR) · joined at #17 · Revenue +17%/yr · +19%/yr per share · scale economics
EnteredFiran Technology Group Corporation (FTG.CA) · joined at #15 · Revenue +20%/yr · +20%/yr per share · scale economics
EnteredKromek Group plc (KMK.GB) · joined at #31 · Revenue +25%/yr · +10%/yr per share · asset light
EnteredAmper, S.A. (AMP.ES) · joined at #50 · Revenue +31%/yr · +18%/yr per share · asset light
EnteredIndra Sistemas, S.A. (IDR.ES) · joined at #10 · Revenue +13%/yr · +15%/yr per share · asset light
+7 more
MSI.GB, CNC.GB, GDWN.GB, RR.GB, BA.GB, FTC.GB, BKSY also joined
Left
W5.SE, SATL, CTM, RCAT, MILDEF.SE, OVZON.SE, AIR, VVX, BYRN, BKSY, RR.GB, BA.GB
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Research tool, not investment advice. Rankings are generated by our models from company filings and market data, refresh nightly, and are identical for every visitor. Scores reflect our methodology and are not recommendations to act. Data as of 2026-07-28.