To me, the main thing about this is he acts out when frustrated/kids don't listen to him.
THUS, he needs help in learning "how" to cope... coping skills, and HOW to navigate himself socially.
Sure, there can be scolding/punishment/timeouts etc., but a child will keep doing it if they do NOT know how to "cope" with their frustrations.
A lot of it can be role-playing, INSTEAD OF verbal instruction or lecturing. Act out WITH him, what he can do instead of hitting... instead of getting mad... instead of getting 'mad' when other kids do not listen to him. ie: he can LEARN to ASK FOR HELP... or to tell the Teacher/you if he is having a hard time with something... teach him the words to use to "ask" for help etc. Kids need to be told, literally, what to say verbatim often times. And, SHOW him what he can do... often times, our words/lectures to kids just falls on deaf ears. Thus, show him actual things that he can do instead.
Thereby arming him with coping skills to deal with it more appropriately.
Also, how is his overall self-esteem? His sense of "who" he is? Can he for example, just go and play with someone else if a child is not to his liking or does not like him? Does he KNOW that he can even do that? ... to choose another activity or play-mate?
How about playing games with him yourself... or board games... to teach him "rules" of fairness and teamwork?
The other kids probably do not listen to him, because they know he hits and does not play nicely. So, it makes him more frustrated.
All the best,
Susan