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KRET moved up in the list of the world’s top military-industrial companies

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KRET made the top-100 list of the world’s leading arms producers for 2014, according to the ratings of the Stockholm International Peace Research Institute (SIPRI). The concern came in 45th place, moving up nine places compared to 2013.

According to the report, last year Russia continued to increase arms sales despite its difficult economic situation. The number of Russian companies in the list of 100 companies has grown from nine to eleven. Analyzing the results of the year, the Stockholm Institute said that the cumulative revenue growth of Russian companies in 2013-2014 was 48.4%.

Among the Russian companies was Concern Radio-Electronic Technologies (KRET), which moved up nine places in the rankings compared to 2013, up to 45th place. The improvement was due to the company’s improved financial performance. According to SIPRI, KRET increased its total sales from $2.4 billion in 2013 to $2.7 billion in 2014, with net profit increasing from $207 million to $221 million.

"Despite the fact that such ratings provide a somewhat simplified picture of the balance of power in the markets for military products, they allow both outside observers and participants to ‘compare notes’ and better understand their place in the global system,” said Igor Nasenkov, First Deputy CEO of KRET. “In this case, we see the first results of the massive efforts that the entire KRET team has made in recent years. At this stage, we are only restoring our position relative to our competitors. Strategically, our role in the world does not depend on short-term indicators, but on investment in research and development work, to which we are now increasing our attention.”

KRET’s growth indicators took place in the midst of the collective decline in total sales and revenues of the world’s 100 largest military-industrial companies. In this regard, according to SIPRI total sales decreased by 1.5% and profit by 3.2% in 2014.

This decline affected KRET’s major competitors in world markets. For example, Europe's largest industrial group Thales, which produces radar, aircraft equipment, and electronic warfare systems, moved down two places. Rockwell Collins, one of the leading American designers and manufacturers of avionics, dropped five positions, falling behind KRET in terms of sales of military products.

KRET moved up in the list of the world’s top military-industrial companies
KRET moved up in the list of the world’s top military-industrial companies

Concern Radio-Electronic Technologies (KRET) is the largest Russian company in the radioelectronic industry. It was established in 2009. It is a member of Rostec Corporation. Key activities: development and production of systems and complexes of onboard avionics for civil and military aircraft, air-based radars, State recognition systems, and electronic warfare systems (EW), test equipment for various applications (TE), electrical connectors, connectors, and cable assemblies. In addition, the enterprises of the Concern manufacture modern household appliances and medical equipment, equipment and control systems for the fuel and energy complex, as well as for transport and engineering industries. The Concern includes more than 100 research institutes, design offices and production plants located in 29 constituent entities of the Russian Federation. Number of employees: approximately 54, 000 people.