BAE Systems plc is a public company which focuses on defense, aerospace, and security. However, Airbus has taken the first spot in the 2019-2020FY list, pushing its rival Boeing for the first time in decades. It stands amidst the biggest defense companies in the world and has operations in UK, India, Australia, Saudi Arabia, and the US. Boeing is not only the most popular aerospace company in the world but also the largest by revenue at US$93.4 billion in 2017. Both Boeing and Airbus, continue to dominate the global aerospace industry in 2020. The Tier 1 company usually source its sub-systems / product from a Tier 2 company. Lockheed Martin Corporation is a global aerospace, defence and security company with presence across the world. Largest Companies by Revenue Boeing. Top Aerospace Tier 1 companies in 2020: The global aerospace industry is valued at US $838 billion (2017) while aircraft production was worth over US $180 billion in 2015. Here are the world’s largest aerospace companies. Lockheed Martin Corporation, a leading aerospace, defence, security and advanced technologies company based in Bethesda, reported revenue of $53.76bn in 2018, a 7.6% increase compared to 2017. A Tier 1 Aerospace company is a company that is supplying directly to the Aircraft manufacturer. Image courtesy of Coolcaesar. The multinational company is ranked 3rd on the world list of biggest defense companies and also in terms of applicable 2015 revenues. The year 2019, proven to be highly profitable for most of the aerospace companies.