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Ranked: The World’s 20 Largest Arms Companies by Revenue

2026-04-01 23:52:22

The World’s 20 Largest Arms Companies by Revenue

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

Lockheed Martin generated $64.7B in arms sales in 2024, the highest of any company.
The top 20 defense firms brought in a combined $438.4 billion in arms revenue.
14 of the top 20 companies are based in the U.S. or China.

A small group of companies dominates the global arms industry, with a clear leader at the top.

This chart, created by Iswardi Ishak using data from SIPRI, ranks the top 20 defense companies by arms sales in 2024. Lockheed Martin stands well ahead of its peers, highlighting the industry’s concentration among a handful of major contractors.

U.S. firms play an outsized role at the top of the ranking, while China and Europe continue to expand their presence, pointing to a gradually shifting global landscape.

Why U.S. Firms Dominate Global Arms Sales

U.S. companies account for six of the top 10 firms by arms revenue, reflecting their scale in high-cost, long-cycle defense programs. From fighter jets to missile defense systems, these projects create steady, long-term revenue streams.

Rank	Company	Arms Revenue ($B)	Arms Revenue as % of Total Revenue
1	Lockheed Martin Corp.	64.65	91.0
2	RTX Corporation	43.60	54.0
3	Northrop Grumman	37.85	92.2
4	BAE Systems	33.79	95.4
5	General Dynamics	33.63	70.4
6	Boeing	30.55	45.9
7	Rostec	27.12	69.7
8	Aviation Industry Corp.	20.32	25.0
9	China Electronics Technology Group	18.92	34.3
10	L3Harris Technologies	16.21	76.0
11	NORINCO	13.97	22.7
12	Leonardo	13.83	72.0
13	Airbus	13.37	17.9
14	China State Shipbuilding Corp.	12.33	24.8
15	Thales	11.80	53.0
16	Huntington Ingalls Industries	10.28	89.1
17	China Aerospace Science and Technology Corp.	10.23	30.0
18	Leidos	9.37	56.2
19	Amentum	8.33	60.1
20	Rheinmetall	8.24	78.1

Together, these companies generate hundreds of billions in arms sales, but revenue is concentrated among the top players.

Lockheed Martin leads with nearly $65 billion in arms revenue, well ahead of RTX and Northrop Grumman.

General Dynamics, Boeing, and L3Harris Technologies also rank in the top 10, giving U.S. firms six of the top spots.

Europe and China Keep Building Influence

European firms remain major players, though their revenues trail the largest U.S. contractors. BAE Systems ranks fourth overall, while Leonardo, Airbus, Thales, and Rheinmetall also appear in the top 20.

Chinese state-owned enterprises feature prominently, including AVIC, CETC, NORINCO, China State Shipbuilding Corporation, and China Aerospace Science and Technology Corporation. Together, they reflect China’s expanding defense industrial base across aerospace, electronics, and shipbuilding.

Learn More on the Voronoi App

Where do the world’s nuclear warheads reside? Check out this visualization to learn more.

Mapped: Median Annual Property Taxes by State

2026-04-01 21:47:28

See more visuals like this on the Voronoi app.

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Mapped: Median Annual Property Taxes by State in 2024

See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

Property tax bills vary by more than 10x across U.S. states.
New Jersey has the highest median bill at $9,358, while West Virginia ($881) and Alabama ($890) are the lowest
The Northeast dominates the high end, with 7 of the 10 most expensive states.

Property taxes are one of the biggest ongoing costs of owning a home, and in some states they can add thousands of dollars a year to the price of staying put.

The U.S. national median annual property tax bill sits at $2,937, and the gap between the highest- and lowest-bill states stretches into the thousands of dollars.

This map shows the median annual property tax bill for owner-occupied homes by state using data from the U.S. Census Bureau American Community Survey 2024 1-Year Estimates, the latest available data as of March 2026.

Northeast States Have America’s Highest Property Tax Bills

New Jersey ranks first by a wide margin, with a median annual property tax bill of $9,358. It is followed by New Hampshire at $6,707, Connecticut at $6,573, New York at $6,542, and Massachusetts at $6,080.

Overall, seven of the top 10 states are in the Northeast, underscoring how heavily many local governments in the region rely on property taxes to fund schools and municipal services.

The table below ranks all 50 states by median annual property tax bill, from highest to lowest.

Rank	State	Median Annual Property Tax Bill
1	New Jersey	$9,358
2	New Hampshire	$6,707
3	Connecticut	$6,573
4	New York	$6,542
5	Massachusetts	$6,080
6	Illinois	$5,399
7	California	$5,369
8	Vermont	$5,026
9	Rhode Island	$4,886
10	Washington	$4,729
11	District of Columbia	$4,594
12	Maryland	$4,144
13	Texas	$4,108
14	Alaska	$3,976
15	Oregon	$3,895
16	Nebraska	$3,739
17	Wisconsin	$3,680
18	Minnesota	$3,501
19	Pennsylvania	$3,214
20	Maine	$3,103
21	Florida	$2,993
22	Michigan	$2,988
23	Kansas	$2,983
24	South Dakota	$2,940
25	Montana	$2,939
26	Iowa	$2,937
27	Ohio	$2,937
28	Virginia	$2,872
29	Colorado	$2,828
30	Utah	$2,648
31	Georgia	$2,554
32	North Dakota	$2,550
33	Hawaii	$2,385
34	Nevada	$2,143
35	North Carolina	$2,044
36	Missouri	$2,021
37	Wyoming	$1,947
38	Idaho	$1,912
39	Arizona	$1,828
40	Indiana	$1,798
41	New Mexico	$1,776
42	Delaware	$1,750
43	Oklahoma	$1,672
44	Kentucky	$1,611
45	Tennessee	$1,488
46	South Carolina	$1,337
47	Mississippi	$1,221
48	Louisiana	$1,187
49	Arkansas	$1,113
50	Alabama	$890
51	West Virginia	$881

At the other end of the map, West Virginia has the lowest median bill at $881, followed closely by Alabama at $890. Arkansas ($1,113), Louisiana ($1,187), and Mississippi ($1,221) also sit well below the national median of $2,937.

Outside the Northeast, California ($5,369) and Washington ($4,729) stand out for high dollar bills driven in part by elevated home values.

Why U.S. Property Tax Bills Vary So Much

Property tax bills are driven by two factors: home values and how much local governments rely on property taxes.

This is why high-value states like California can generate large bills even with moderate rates, while lower-cost states tend to produce smaller annual burdens overall.

Learn More on the Voronoi App

If you enjoyed today’s post, check out Mapped: Average House Prices by State on Voronoi.

Ranked: CO2 Emissions Per Person by Major Economy

2026-04-01 20:04:38

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Ranked: CO2 Emissions Per Person by Major Economy

See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

Oil-rich economies dominate the top of the list, with Saudi Arabia emitting over four times the global average.
Australia, the U.S., and Canada all rank in the top five, driven by high consumption and energy production.
Despite being the world’s largest emitter overall, China sits in the middle, while India ranks last by per capita emissions.

Carbon emissions are often measured at the national level, but that can mask a key reality: how much each person actually contributes.

This graphic ranks CO₂ emissions relative to population across the world’s 30 largest economies, highlighting sharp differences between countries with similar levels of wealth.

From oil-rich nations to industrial powerhouses, the latest figures from Our World in Data shows that where you live can dramatically shape your personal carbon footprint, with some countries emitting nearly 10x more per person than others.

Which Countries Emit the Most CO₂ Per Person?

The table below shows the CO₂ emissions per capita of the world’s top 30 economies by GDP, measured in tonnes per person in 2024:

Rank	Country	CO₂ Emissions per Capita 2024 (tonnes per person)	Region
1	Saudi Arabia	20.4	Middle East
2	UAE	20.1	Middle East
3	Australia	14.5	Oceania
4	U.S.	14.2	North America
5	Canada	13.4	North America
6	Russia	12.3	Europe
7	South Korea	11.3	Asia
8	Singapore	9.2	Asia
9	China	8.7	Asia
10	Japan	7.8	Asia
11	Belgium	7.3	Europe
12	Poland	7.1	Europe
13	Germany	6.8	Europe
14	Ireland	6.3	Europe
15	Netherlands	6.3	Europe
16	Austria	6.2	Europe
17	Türkiye	5.9	Asia
18	Israel	5.6	Middle East
19	Italy	5.1	Europe
20	Spain	4.6	Europe
21	UK	4.5	Europe
22	France	4.0	Europe
23	Argentina	3.7	South America
24	Thailand	3.7	Asia
25	Switzerland	3.6	Europe
26	Sweden	3.6	Europe
27	Mexico	3.5	North America
28	Indonesia	2.9	Asia
29	Brazil	2.3	South America
30	India	2.2	Asia

Saudi Arabia and the UAE each exceed 20 tonnes of CO₂ per person, driven by energy-intensive industries, fossil fuel dependence, and relatively small populations.

At the same time, they rank among the highest per capita emitters globally. Following next in line are Australia, the U.S. and Canada, which emit around three times the global average emissions per capita. This reflects their resource-heavy industries and high energy consumption.

Similarly, Russia’s extensive energy production makes it the largest emitter among major economies in Europe, with 12.3 tonnes of CO₂ emissions per person.

Asia’s Divide in Emissions Per Capita

Across Asia’s largest economies, per person emissions cover a wide spectrum.

South Korea leads the region at 11.3 tonnes of CO₂ per capita, driven by energy and manufacturing industries. Singapore follows, at 9.2 tonnes of CO₂ emissions per capita, home to one of the world’s largest oil refining and trading hubs.

China, meanwhile, emits 8.7 tonnes per person, or nearly double the global average. While it remains the world’s largest emitter overall, it has also become a global leader in clean energy, from solar to electric vehicles, and is investing heavily in scaling green hydrogen.

At the other end of the spectrum is India, with 2.2 tonnes per capita. Despite continued reliance on coal, the country has set—and surpassed—ambitious solar targets, and is on track to triple its renewable energy capacity by 2030 compared to 2022 levels.

Learn More on the Voronoi App

To learn more about this topic, check out this graphic on the world’s carbon emissions by sector.

Ranked: The Most Consistent U.S. Power Sources

2026-04-01 02:48:00

Published

1 day ago

March 31, 2026

Ryan Bellefontaine

Article & Editing

Cody Good

Graphics & Design

Abha Patil

A graphic comparing the capacity factor of different fuel sources in the U.S. Capacity factor percentages are represented by spheres of each respective fuel.

Ranked: The Most Consistent U.S. Power Sources

Key Takeaways

Nuclear leads major U.S. power sources with a 91% capacity factor in 2025.
Geothermal, biomass, and combined cycle natural gas also post strong reliability scores.
Investor-owned utilities (IOUs) such as Duke Energy and Georgia Power are planning around firm generation as data center demand rises.

Reliable electricity is gaining value as utilities plan for AI-led growth and a more digital economy.

Capacity factor helps compare the fitness of power sources on this topic because it shows which technologies deliver the steadiest output over time.

This graphic, in partnership with the National Public Utilities Council, shows the most consistent U.S. power sources using data from the EIA.

Why Capacity Factor Matters

Capacity factor compares actual generation with the maximum possible output over a full year. As a result, it offers a simple way to see which power sources can run hardest when demand rises.

Here is a table that shows U.S. power sources ranked by 2025 capacity factor.

Energy Source	Capacity Factor (2025)
Nuclear	91%
Geothermal	66%
Biomass	59%
Natural Gas (Combined Cycle)	58%
Wood	57%
Coal	49%
Hydroelectric	35%
Wind	34%
Solar (Photovoltaic)	24%
Petroleum (Steam Turbine)	11%

Among the major energy sources powering the U.S. today, one standout winner is nuclear.

Nuclear Leads the Ranking

Nuclear posts a 91% capacity factor, far ahead of geothermal at 66% and biomass at 59%. That lead helps explain why firm, emission-free generation remains central as U.S. data center power demand climbs.

The combined cycle variant of natural gas, with its capacity factor of 58%, is the current go-to source in the U.S. for meeting the jump in electricity demand from AI and data centers because utilities can add firm gas-fired generation faster than many other always-available options.

Meanwhile, a low capacity factor is one of the biggest downsides of wind (34%) and solar (24%), as it limits how often they can produce at high levels compared with more consistent sources. Utilities must often pair them with storage, backup generation, or grid upgrades to maintain reliability as demand grows.

How IOUs Are Responding

Several U.S. investor-owned utilities are prioritizing expanding energy capacity for the source with the highest capacity factor.

For example, Duke Ene rgy filed an early site permit application on December 30, 2025, for a potential nuclear site at Belews Creek in North Carolina.

Meanwhile, Georgia Power’s approved 2025 IRP is designed to meet the needs of a growing Georgia, showing how major investor-owned utilities are planning for higher loads with firm generation, grid upgrades, and long-range strategy.

Together, those moves show why capacity factor matters beyond a ranking. It helps utilities identify which power sources can support growth, strengthen resilience, and keep decarbonization plans moving.

Mapped: America’s Data Center Construction Boom

2026-04-01 01:24:09

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Mapped: America’s Data Center Construction Boom

See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

Texas leads the U.S. with 140 data centers under construction, just ahead of Virginia with 136.
Texas and Virginia are the only states with more than 100 projects underway as of March 2026.
The buildout is highly uneven: 12 states have none under construction, while 11 have fewer than five.

America’s data center buildout is increasingly concentrated in a handful of states as AI demand drives a new wave of digital infrastructure investment. Texas and Virginia alone account for far more projects under construction than most of the country combined.

This map shows the number of data centers currently under construction in each U.S. state as of March 2026, based on data from Aterio.

Data Centers Under Construction by U.S. State, 2026

Texas leads data construction by a narrow margin, but the bigger story is how sharply development clusters around states with access to land, power, connectivity, and favorable permitting.

Rank	State	Data Centers Under Construction
1	Texas	140
2	Virginia	136
3	Georgia	56
4	Ohio	51
5	Arizona	35
6	Nevada	29
7	Indiana	23
8	Mississippi	21
9	Illinois	19
10	Iowa	15
11	Oregon	14
12	North Carolina	12
12	South Carolina	12
12	Wisconsin	12
12	Maryland	12
16	Pennsylvania	11
16	Louisiana	11
18	Utah	10
19	Oklahoma	9
20	Missouri	8
20	Alabama	8
20	Wyoming	8
23	California	6
23	Colorado	6
25	Nebraska	5
25	New Mexico	5
27	Minnesota	4
27	North Dakota	4
29	Washington	3
29	New York	3
29	Tennessee	3
32	Florida	2
32	New Jersey	2
32	Kentucky	2
32	Arkansas	2
32	Idaho	2
37	Michigan	1
37	Kansas	1
39	Massachusetts	0
39	Connecticut	0
39	Delaware	0
39	New Hampshire	0
39	District Of Columbia	0
39	West Virginia	0
39	Montana	0
39	Maine	0
39	Rhode Island	0
39	South Dakota	0
39	Hawaii	0
39	Vermont	0

U.S. data center capacity is set to expand rapidly as artificial intelligence drives a new wave of infrastructure demand. Meeting that demand will require enormous investment in power, land, and construction, and the buildout is already well underway. Big Tech is expected to spend $700 billion on AI data centers this year alone, helping accelerate projects across a small number of key states.

Texas leads the nation with 140 data centers under construction, narrowly ahead of Virginia with 136. They are the only two states with more than 100 projects underway as of March 2026, putting them well ahead of the rest of the country.

After those two, there is a sharp drop to Georgia at 56 and Ohio at 51. That gap highlights just how concentrated the current buildout is, with most states seeing only modest activity. In fact, 12 states have no data centers under construction at all, while another 11 have fewer than five.

Virginia’s strength is centered in Northern Virginia’s “Data Center Alley,” one of the world’s most important internet hubs. The region’s dense fiber connectivity, established cloud presence, and proximity to major population and enterprise centers have helped attract operators including Amazon Web Services, Google, and Microsoft.

A huge portion of global internet traffic passes through the region, which is only set to grow as more data centers are established.

Clashes With Communities

The same factors attracting data center developers, especially access to power and land, are also creating new bottlenecks.

In fast-growing markets, the surge in electricity demand is beginning to test grid capacity and raise questions about how quickly utilities can keep pace. In Texas, developers have created levels of demand that could be impossible to meet.

The boom has also sparked resistance in some communities near proposed sites. In rural Georgia, for instance, residents cite widespread concerns about sound, light, and environmental pollution. In addition, one resident says a data center has caused her private well to run dry; data centers are water-intensive operations because they use water for cooling.

As a result, policymakers in some states and municipalities are considering tighter rules on future development, ranging from stricter environmental reviews to temporary pauses on new projects.

Learn More on the Voronoi App

To learn more about the data center buildout, check out this graphic showing which states are winning and losing the most market share.

Ranked: The Fastest-Growing Major Economies in 2025 & 2026

2026-03-31 23:36:00

Published

2 days ago

March 31, 2026

Julia Wendling

Graphics & Design

Jennifer West

Radial bar chart showing projected real GDP growth of major economies, using data from the IMF.

The Fastest-Growing Major Economies in 2025 & 2026

Key Takeaways

India leads global growth, with GDP forecast at 6.6% in 2025 and 6.2% in 2026, well ahead of all major economies.
Southeast Asia remains resilient, with Indonesia sustaining 4.9% growth across both years.
Advanced economies lag behind, with the U.S. (~2%) and Europe (~1% or less) highlighting a widening global growth divide.

As the global economy adjusts elevated levels of geopolitical uncertainty, growth is becoming increasingly uneven. This divergence is reshaping where economic power and opportunity will emerge in the years ahead.

This graphic, created in partnership with the Hinrich Foundation, provides visual context to the economies driving global growth in 2025 and 2026.

Data comes from the IMF’s World Economic Outlook. It’s part of a deep dive report, India’s Reckoning: How geopolitics and trade are testing India’s development strategy and the global balance of power.

Emerging Markets Drive Global Growth

The global economy is entering a phase of uneven expansion. Emerging markets are firmly in the driver’s seat, according to IMF projections.

India stands out as the fastest growing major economy, projected to expand at more than triple the pace of most developed nations (6.2% in 2026).

Country	Real GDP Growth 2025 (%)	Real GDP Growth 2026 (%)
India	6.6	6.2
Indonesia	4.9	4.9
China	4.8	4.2
Brazil	2.4	1.9
U.S.	2.0	2.1
UK	1.3	1.3
Japan	1.1	0.6
France	0.7	0.9
Russia	0.6	1.0
Germany	0.2	0.9

Close behind, Indonesia and China are expected to maintain strong momentum, with expansion rates above 4% for 2025 and 2026.

A Widening Growth Gap

In contrast, advanced economies are facing slower, more constrained growth. The U.S. is forecast to grow modestly at around 2%, while countries like Japan, France, and Germany are expected to hover below 1% for 2026.

This divergence reflects structural differences, from demographics and productivity to investment cycles, and signals a broader shift in where future economic expansion will occur.

For investors and policymakers, this growing gap underscores the importance of looking beyond traditional markets for opportunities.

Go Deeper

India’s rise is reshaping the global economic landscape. But as growth accelerates, the country faces a reckoning: translating economic scale into shared prosperity while navigating intensifying geopolitical competition.