In the past year, Poland allocated a staggering 186 billion PLN towards defense through the state budget and the Armed Forces Support Fund, with projected spending for this year expected to reach 200 billion PLN. This figure does not include funds from the SAFE program, which is estimated to contribute around 186 billion PLN from 2026 to 2030.
The threat of aggression from Russia has driven Poland’s defense budget to unprecedented levels, increasing by 26.3 billion PLN in 2024, followed by a 49 billion PLN rise in 2025, with an additional 15 billion PLN anticipated for this year.
Average annual contributions from the SAFE program between 2026 and 2030 could add 37 billion PLN. The results show that such funding has led to significant gains in the Polish defense industry, marking one of the most prosperous periods in its history.
For 2025, we gathered the revenue figures from the PGZ Group and its key subsidiaries, along with private companies such as the drone manufacturer WB Group and the ammunition producer Niewiadów Polska Grupa Militarna. Unfortunately, the company Advanced Protection Systems, which specializes in anti-drone systems, has not submitted its reports for 2025 or 2024, despite being required to do so.
Fastest Growing Defense Companies
The largest percentage growth in revenue, at 109%, was reported by the armored vehicle producer Rosomak and the ammunition and weapon manufacturer Dezamet.
These companies also recorded the highest net profit increases, with Dezamet rising by 329% and Rosomak by 230% year-on-year.
Significant investments in fixed assets were made by the artillery equipment and armored vehicle manufacturer Huta Stalowa Wola (245 million PLN, +56% year-on-year), the private WB Group (187 million PLN, +100% year-on-year), and ammunition and missile manufacturer Mesko (183 million PLN, +4% year-on-year).
Interestingly, while these companies are receiving increasing public funding, part of these funds returns to the state through profits and business growth, which includes higher employment, taxes, dividends, and social security contributions. The PGZ Group contributed a total of 2.2 billion PLN to the budget and social security fund, marking a 7.6% increase year-on-year. Notably, Mesko contributed 641 million PLN, a 53% rise, Huta Stalowa Wola 534 million PLN (+11.5%), and WB Group 359 million PLN (+13%).
PGZ Group’s Record Profits
The results of the state-controlled PGZ Group are particularly impressive. Last year, its revenue soared by 33% to 18.5 billion PLN, while net profit jumped 66% to reach 2.8 billion PLN.
The group expanded its workforce by nearly 1,600 employees, totaling 21,900 staff members, placing it among the top ten largest employers in the country.
In terms of salaries, the group allocated 3.5 billion PLN, with the average salary adjusted for management pay at approximately 13,200 PLN gross, representing a 9.1% decrease from the previous year—likely due to the hiring of new employees who earn less than their tenured counterparts or did not receive bonuses.
We examined the individual components of the group as well as private producers, analyzing their earnings, investments, tax contributions, dividends, and employee compensation. We ranked the top twelve based on revenue, including Niewiadów’s results at the end.
1. PGZ Group (Consolidated Data)
Owner: The State Treasury (100% shares, both directly and indirectly)
Revenue for 2025: 18.489 billion PLN (+32.7% year-on-year)
Net Profit: 2.793 billion PLN (+66.2% year-on-year)
Investments in fixed assets: 900.8 million PLN (+6.5% year-on-year)
Total taxes, including personal income tax and social security contributions: 2.228 billion PLN (+7.6% year-on-year)
Dividend: 34 million PLN (+78% year-on-year)
Employment: 21,897 employees (+8% year-on-year)
Employee cost (excluding management): 13,200 PLN per month (-9% year-on-year)
Estimated gross salary: 11,000 PLN per month
Management cost: 81,500 PLN per month (-20.5% year-on-year)
2. Huta Stalowa Wola (PGZ Group)
Owners: Polish Armaments Group (86.4%), State Treasury (5.5%), PGE Obrót (0.8%)
Business Profile: Designs and manufactures artillery equipment, armored vehicles, and engineering devices.
Revenue for 2025: 5.288 billion PLN (+63% year-on-year)
Net Profit: 852 million PLN (+56% year-on-year)
Investments in fixed assets: 245 million PLN (+56% year-on-year)
Total taxes, including personal income tax and social security contributions: 534 million PLN (+11.5% year-on-year)
Dividend: 518 million PLN (+518 million PLN year-on-year)
Employment: 3,595 employees (+17% year-on-year)
Employee cost (excluding management): 11,800 PLN per month (+2% year-on-year)
Estimated gross salary: 9,800 PLN per month
Management cost: 62,000 PLN per month (+4% year-on-year)
3. Mesko (PGZ Group)
Owners: Polish Armaments Group (86.4%), State Treasury (5.5%), PGE Obrót (0.8%)
Business Profile: Produces ammunition and missiles.
Revenue for 2025: 3.848 billion PLN (+42% year-on-year)
Net Profit: 933 million PLN (+122% year-on-year)
Investments in fixed assets: 183 million PLN (+4% year-on-year)
Total taxes, including personal income tax and social security contributions: 641 million PLN (+53% year-on-year)
Dividend: 54 million PLN (+54 million PLN year-on-year)
Employment: 3,654 employees (-19.5% year-on-year)
Employee cost (excluding management): 17,900 PLN per month (+50% year-on-year)
Estimated gross salary: 14,900 PLN per month
Management cost: 60,000 PLN per month (-10% year-on-year)
4. WB Electronics Group (Consolidated Data)
Owners: Piotr Wojciechowski (45.5%), Adam Bartosiewicz (28.1%), PFR Closed-End Investment Fund (26.4%)
Business Profile: Produces military drones.
Revenue for 2025: 2.611 billion PLN (-11.7% year-on-year)
Net Profit: 679 million PLN (+9.1% year-on-year)
Investments in fixed assets: 187.3 million PLN (+100.2% year-on-year)
Total taxes, including personal income tax and social security contributions: 359 million PLN (+12.7% year-on-year)
Dividend: 55 million PLN (+100% year-on-year)
Employment: 2,199 employees (+22.1% year-on-year)
Employee cost (excluding management): 14,600 PLN per month (-8.3% year-on-year)
Estimated gross salary: 12,500 PLN per month
Management cost: 413,700 PLN per month (+37% year-on-year)
5. PCO Group (PGZ)
Owner: Polish Armaments Group (91.5%)
Business Profile: Manufactures optoelectronic products, including laser, night vision, and thermal devices.
Revenue for 2025: 1.865 billion PLN (+16% year-on-year)
Net Profit: 296 million PLN (+17% year-on-year)
Investments in fixed assets: 91 million PLN (+24% year-on-year)
Total taxes, including personal income tax and social security contributions: 208 million PLN (+24% year-on-year)
Dividend: 8 million PLN (+8 million PLN year-on-year)
Employment: 2,911 employees (+7% year-on-year)
Employee cost (excluding management): 13,500 PLN per month (+15% year-on-year)
Estimated gross salary: 11,200 PLN per month
Management cost: 40,100 PLN per month (+35% year-on-year)
6. Jelcz (PGZ Group)
Owner: Huta Stalowa Wola (100%)
Business Profile: Engaged in the production of mechanical vehicles.
Revenue for 2025: 1.286 billion PLN (+47% year-on-year)
Net Profit: 223 million PLN (+29% year-on-year)
Investments in fixed assets: 8 million PLN (+3% year-on-year)
Total taxes, including personal income tax and social security contributions: 135 million PLN (+15% year-on-year)
Dividend: 52 million PLN (+52 million PLN year-on-year)
Employment: 1,126 employees (+29% year-on-year)
Employee cost (excluding management): 11,000 PLN per month (-10% year-on-year)
Estimated gross salary: 8,900 PLN per month
Management cost: 29,200 PLN per month (+6% year-on-year)
7. Rosomak (PGZ Group)
Owner: Polish Armaments Group (99.8%)
Business Profile: Manufactures and services combat vehicles.
Revenue for 2025: 1.235 billion PLN (+109% year-on-year)
Net Profit: 304 million PLN (-230% year-on-year)
Investments in fixed assets: 23 million PLN (+120% year-on-year)
Total taxes, including personal income tax and social security contributions: 122 million PLN (+136% year-on-year)
Dividend: 28 million PLN (+28 million PLN year-on-year)
Employment: 464 employees (+14% year-on-year)
Employee cost (excluding management): 14,100 PLN per month (+17% year-on-year)
Estimated gross salary: 11,700 PLN per month
Management cost: 29,500 PLN per month (+824% year-on-year)
8. DEZAMET (PGZ Group)
Owners: Polish Armaments Group (46%), Mesko (39.9%), PGE Obrót (1.4%)
Business Profile: Produces arms and ammunition and carries out metal processing.
Revenue for 2025: 977 million PLN (+109.4% year-on-year)
Net Profit: 257 million PLN (+328.9% year-on-year)
Investments in fixed assets: 12 million PLN (-43.5% year-on-year)
Total taxes, including personal income tax and social security contributions: 114 million PLN (+106% year-on-year)
Dividend: 5 million PLN (+5 million PLN year-on-year)
Employment: 748 employees (-7.3% year-on-year)
Employee cost (excluding management): 12,100 PLN per month (+7.5% year-on-year)
Estimated gross salary: 10,100 PLN per month
Management cost: 24,500 PLN per month (unchanged year-on-year)
9. Bumar-Łabędy (PGZ Group)
Owner: Polish Armaments Group (86.5%)
Business Profile: Produces heavy tracked vehicles for military and civilian use.
Revenue for 2025: 776 million PLN (+19.7% year-on-year)
Net Profit: 167 million PLN (+94% year-on-year)
Investments in fixed assets: 67 million PLN (+135.6% year-on-year)
Total taxes, including personal income tax and social security contributions: 96 million PLN (+6.9% year-on-year)
Dividend: 0 million PLN
Employment: 966 employees (-2.6% year-on-year)
Employee cost (excluding management): 12,100 PLN per month (+7.5% year-on-year)
Estimated gross salary: 10,000 PLN per month
Management cost: 35,700 PLN per month (+89% year-on-year)
10. PIT-RADWAR (PGZ Group)
Owner: Polish Armaments Group (85.9%)
Business Profile: Provides professional electronics equipment.
Revenue for 2025: 745 million PLN (+10% year-on-year)
Net Profit: -10 million PLN (-119% year-on-year)
Investments in fixed assets: 58 million PLN (-16% year-on-year)
Total taxes, including personal income tax and social security contributions: 138 million PLN (-1% year-on-year)
Dividend: 14 million PLN (+14 million PLN year-on-year)
Employment: 1,765 employees (+3% year-on-year)
Employee cost (excluding management): 14,600 PLN per month (+11% year-on-year)
Estimated gross salary: 12,100 PLN per month
Management cost: 62,600 PLN per month (-1.4% year-on-year)
11. PGZ War Shipyard (PGZ Group)
Owner: Polish Armaments Group (100%)
Business Profile: Engaged in shipbuilding and repairs of floating structures.
Revenue for 2025: 734 million PLN (+36% year-on-year)
Net Profit: 81 million PLN (+59% year-on-year)
Investments in fixed assets: 127 million PLN (-31% year-on-year)
Total taxes, including personal income tax and social security contributions: 59 million PLN (+128% year-on-year)
Dividend: 10 million PLN (+10 million PLN year-on-year)
Employment: 892 employees (+50% year-on-year)
Employee cost (excluding management): 13,000 PLN per month (-3% year-on-year)
Estimated gross salary: 10,800 PLN per month
Management cost: 32,000 PLN per month (-6% year-on-year)
12. Łucznik-Radom Factory (PGZ Group)
Owners: Polish Armaments Group (69.2%), PCO (24.1%), Polski Holding Obronny Sp. z o.o. (5.1%)
Business Profile: Engaged in the production and supply of firearms for domestic and foreign markets.
Revenue for 2025: 708 million PLN (+19% year-on-year)
Net Profit: 217 million PLN (+35% year-on-year)
Investments in fixed assets: 33 million PLN (+119% year-on-year)
Total taxes, including personal income tax and social security contributions: 109 million PLN (+26% year-on-year)
Dividend: 51 million PLN (+51 million PLN year-on-year)
Employment: 624 employees (+6.5% year-on-year)
Employee cost (excluding management): 14,000 PLN per month (+2% year-on-year)
Estimated gross salary: 11,600 PLN per month
Management cost: 38,000 PLN per month (+6% year-on-year)
13. Niewiadów PGM
Owners: L Investment sp. z o.o. and Elżbieta Lubińska (71.3%), Forum Towarzystwo Funduszy Inwestycyjnych SA (15.1%)
Business Profile: Produces ammunition, projectiles, and grenades.
Revenue for 2025: 70 million PLN (-9% year-on-year)
Net Profit: 1 million PLN (-45% year-on-year)
Investments in fixed assets: 64 million PLN (+719% year-on-year)
Total taxes, including personal income tax and social security contributions: 8 million PLN (-21.5% year-on-year)
Dividend: 0 PLN (unchanged year-on-year)
Employment: 76 employees (+9% year-on-year)
Employee cost (excluding management): 12,900 PLN per month (+43% year-on-year)
Estimated gross salary: 10,700 PLN per month
Management cost: 38,900 PLN per month
