The world of defense contracting is a highly competitive industry, with companies vying for lucrative contracts from governments around the world. In this article, we`ll take a look at some of the biggest defense contractors in the world, their size, scope, and specialties.
1. Lockheed Martin: Based in Bethesda, Maryland, Lockheed Martin is the world`s largest defense contractor, with a total revenue of $59.8 billion in 2020. The company produces a variety of advanced weapons systems, including stealth fighters, missile defense systems, and radar technology.
2. Boeing: Known primarily as an aircraft manufacturer, Boeing has also made its mark in the defense industry, with a focus on aerospace and electronic systems. The company generated $28.3 billion in defense revenue in 2020.
3. General Dynamics: Headquartered in Falls Church, Virginia, General Dynamics is a major producer of armored vehicles, submarines, and aerospace systems. In 2020, the company earned $22.4 billion in defense revenue.
4. Airbus: This European aerospace company is known for producing commercial airplanes, but also has a significant presence in the defense industry. Airbus produces military helicopters, fighter jets, and other related products. In 2020, the company generated $13.2 billion in defense revenue.
5. Raytheon Technologies: Created through the merger of Raytheon and United Technologies, Raytheon Technologies is a multinational company that produces advanced defense technologies, such as missile defense systems, electronic warfare systems, and cybersecurity solutions. In 2020, the company earned $14.3 billion in defense revenue.
6. Northrop Grumman: Based in Falls Church, Virginia, Northrop Grumman specializes in aerospace systems, unmanned aerial vehicles, and defense electronics. In 2020, the company generated $36.8 billion in revenue, with a significant portion of that coming from defense contracts.
7. BAE Systems: This British multinational defense company produces military aircraft, armored vehicles, and naval vessels. BAE Systems generated $21.8 billion in revenue in 2020, with a significant portion of that coming from its defense business.
8. SAIC: Science Applications International Corporation (SAIC) is a Virginia-based company that provides defense and intelligence services to governments and commercial clients. In 2020, the company generated $4.7 billion in defense revenue.
In conclusion, these are some of the biggest defense contractors in the world, covering a range of specialties in the defense industry. From aerospace systems to advanced weapons technology, these companies are at the forefront of providing the latest and greatest in military hardware and software.