The country is the only Arab state to make it to the ranking's top ten list and came ahead of over 120 nations also included in the study.
According to the State Information Service, the latest classification is an indication of the fact that "the Egyptian Armed Forces achieved remarkable progress in comparison to several other countries, such as Israel – which occupies 15th place."
The U.S. Army kept its place as the first military power in the world, and Russia came in second on the list, followed by China, India, and France.
Global Firepower's ranking "relies on over 50 factors to determine a given nation's PowerIndex ('PwrIndx') score."
This year's list ranked the militaries of 133 nations.
The list's top Arab armies
More on the strongest military in the Arab world
The total number of personnel registered in Egypt's army amounts to over 1.3 million.
In addition to the strength of its manpower, the country's military boasts significant weapon strength.
According to Global Firepower statistics, the country owns 1,132 military aircrafts and 319 naval assets.
Egypt also possesses over 13,000 armored fighting vehicles and a total of 4,110 combat tanks.