Below you can see our list of the 5 largest defence companies in the world. For a more comprehensive list please see this article.
5. General Dynamics (NYSE: GD)
Total revenue in 2019 (in billions of dollars): 29,512
Total revenue in 2018 (in billions of dollars): 27,507
General Dynamics is one of the oldest companies in our list as it was founded in 1899, and is 121 years old now. It is headquartered in Virginia and like most companies in our list, is also one of the largest aerospace companies in the world. It produces combat vehicles, tanks, fighter jets, autocannons, grenade launchers and many other military products, earning it nearly $30 billion in revenue in 2019, a big jump from 2018.
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4. Northrop Grumman (NYSE:NOC)
Total revenue in 2019 (in billions of dollars): 28,600
Total revenue in 2018 (in billions of dollars): 25,300
Northrop is one of the biggest weapons manufacturer in the entire world, and is involved in the production of several military products which include but are not limited to military vessels, missiles and missile defence systems, autocannons, chain guns, unmanned aerial vehicles and military vehicles. The company was formed in 1994 after the merger of Northrop Corporation and Grumman Corporation, both companies with a long history, having been founded in 1930.
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3. Boeing (NYSE:BA)
Total revenue in 2019 (in billions of dollars): 34,300
Total revenue in 2018 (in billions of dollars): 34,050
It was the largest aerospace company in the world in 2018 but lost out to Airbus in 2019, and also only makes second place as the biggest defence company in the world. While its total revenues exceed $70 billion, $34 billion comes form the defence industry, where it engages in the production of military aircraft.
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2. Raytheon Technologies Corp (NYSE:RTX)
Total revenue in 2019 (in billions of dollars): 40,538
Total revenue in 2018 (in billions of dollars): 36,758
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Raytheon was originally only the 10th biggest defence company in the world but after its acquisition of United Technologies, its ranking jumped up significantly. This American company (remember the top 5 are all American) is nearly a century old, having been founded in 1922 and is involved in the manufacture of air defense systems, drones, cyber security, missiles and many other military products.
1. Lockheed Martin (NYSE:LMT)
Total revenue in 2019 (in billions of dollars): 56,606
Total revenue in 2018 (in billions of dollars): 50,536
Topping the list of 5 largest defence companies in the world, and by a comfortable distance, is Lockheed Martin. The company improved its revenues by $6 billion in 2019 when compared to 2018, registering a massive 12% growth year on year, showcasing the strength of the company. Even though its overall revenues are much lower than Boeing’s, 95% of its revenue is in the defence sector, and hence, it beats out Boeing for the top spot. While the vast majority of its revenue is derived form the US government, a significant amount is also derived from contracts with foreign governments. The company is currently engaged in the production of the F-35 Lightning II where it is the prime contractor along with partners BAE Systems and Northrop Gunman. However, the program has also attracted a lot of controversy over ballooning costs and concerns over safety and performance of the jet.
See also: 20 countries with the highest military spending in the world and 8 most powerful nuclear bombs in the world in 2017
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