[Ranking] TOP 25 Defense / Aerospace Companies Q3/2023
Intro
The defense industry, a sub-industry of Aerospace, plays a critical role in the worldwide economy. It encompasses companies involved in the research, development, production, and maintenance of military equipment, technology, and services. The products and services provided by these companies are essential for the defense and security of nations, making the industry a crucial component of national and international security.
With its profound influence, the defense industry has substantial ripple effects across diverse sectors. The demand for advanced military technology and equipment drives innovation, creating spin-off technologies that find applications in various other industries. From aerospace engineering and electronics to software development and logistics, the defense industry's impact extends far beyond its immediate boundaries.
The economic magnitude of the defense industry is staggering. It is a multi-billion-dollar industry globally, with expenditures on defense consistently rising year after year. Governments allocate significant portions of their budgets to defense spending, ensuring the industry's upward trajectory. This sustained growth provides stability and opportunities for companies within the defense sector to thrive and expand their operations.
Recent trends in the defense industry include a focus on cybersecurity, unmanned systems, and artificial intelligence. As technology rapidly evolves, defense companies face the challenge of adapting and integrating cutting-edge innovations into their products and services. Breakthroughs in areas such as autonomous vehicles, advanced sensors, and data analytics are transforming how military operations are conducted. Additionally, obstacles like budget constraints and geopolitical tensions shape the strategies and priorities of defense companies.
The defense industry operates in an ever-changing landscape, driven by geopolitical shifts, emerging threats, and evolving military doctrines. This dynamic environment sets the context for the exploration of the leading companies within the industry. Understanding the top players and their contributions is crucial to comprehending the current state and future direction of the defense sub-industry within the Aerospace sector.
Ranking
#25 Aerojet Rocketdyne Holdings, Inc.
Employees: 5.5K
Revenue: 1.8B$
Website: https://www.rocket.com
Description: Aerojet Rocketdyne Holdings, Inc. is a leading aerospace and defense company based in El Segundo, United States. With a history dating back to 1942, the company has established itself as a prominent player in the defense industry. Aerojet Rocketdyne specializes in the development and manufacturing of advanced propulsion systems, including rocket engines and missile defense systems. Their innovative technologies and engineering expertise have contributed to numerous space missions and defense projects. With a workforce of approximately 5,500 employees, Aerojet Rocketdyne generates an annual revenue of 1.8 billion dollars. The company's commitment to innovation and dedication to national security make it a key player in the aerospace and defense industry.
#24 Hexcel Corporation
Employees: 7.3K
Revenue: 2.4B$
Website: https://www.hexcel.com/
Description: Hexcel Corporation, headquartered in Stamford, United States, is a leading company in the Aerospace industry. Since its founding in 1948, Hexcel has been at the forefront of providing advanced composites technology and materials to the defense sector. With a workforce of approximately 7.3 thousand employees, Hexcel is dedicated to developing innovative solutions for the aerospace defense market. The company's revenue amounts to 2.4 billion dollars, reflecting its strong position in the industry. Hexcel's cutting-edge products and technologies play a crucial role in enhancing the performance, durability, and safety of defense applications, including military aircraft and vehicles. Through its continuous commitment to research and development, Hexcel remains a trusted partner in the defense sector, contributing to the advancement of aerospace technology worldwide.
#23 Curtiss-Wright Corporation
Employees: 9.6K
Revenue: 2.5B$
Website: https://www.curtisswright.com
Description: Curtiss-Wright Corporation, headquartered in Charlotte, United States, is a leading company in the Defense industry within the Aerospace sector. Founded in 1929, the company has a workforce of approximately 9.6 thousand employees. With annual revenue of 2.5 billion dollars, Curtiss-Wright Corporation specializes in providing innovative solutions and critical components to the defense sector. They offer a wide range of products and services, including aircraft controls, sensors, valve actuation systems, and mission-critical systems. Curtiss-Wright Corporation is known for its advanced technology and expertise in ruggedized electronics and mission-critical systems for defense applications. They have a strong global presence and collaborate with defense organizations worldwide to ensure operational excellence and enhance national security.
#22 Moog Inc.
Employees: 12K
Revenue: 2.5B$
Website: https://www.moog.com/
Description: Moog Inc., headquartered in Elma, United States, is a leading company in the Defense industry within the Aerospace sector. Founded in 1951, Moog has established itself as a prominent player in the market. With approximately 12,000 employees, the company operates globally, providing innovative solutions and advanced technologies for defense applications. Moog specializes in the design and manufacture of high-performance motion control systems, precision control components, and integrated solutions for a wide range of defense projects. The company's products are utilized in various aerospace and defense applications, including aircraft flight controls, missile and weapon systems, and military vehicles. Moog's commitment to engineering excellence and customer satisfaction has positioned it as a trusted partner for defense organizations worldwide. With annual revenues of 2.5 billion dollars, Moog continues to drive innovation and deliver cutting-edge solutions in the Defense industry.
#21 KBR, Inc.
Employees: 37K
Revenue: 5.7B$
Website: https://www.kbr.com
Description: KBR, Inc. is a leading company in the Defense industry, operating in the Aerospace sector. Headquartered in Houston, United States, KBR has established itself as a prominent player in providing defense solutions. With a rich history dating back to 1901, KBR has accumulated extensive expertise and experience in delivering innovative defense projects. The company boasts a workforce of approximately 37,000 employees, who are dedicated to delivering high-quality services and solutions to their clients. KBR's revenue stands at an impressive 5.7 billion dollars, showcasing their strong position in the market. Through their website, KBR offers comprehensive insights into their defense operations and showcases their commitment to excellence in the aerospace industry.
#20 Rheinmetall AG
Employees: 23K
Revenue: 6.2B$
Website: https://www.rheinmetall.com
Description: Rheinmetall AG, headquartered in Düsseldorf, Germany, is a leading player in the Defense industry, operating in the Aerospace sector. With a rich history dating back to 1889, Rheinmetall has established itself as a trusted name in the industry. The company employs approximately 23,000 individuals worldwide and generates an impressive revenue of 6.2 billion dollars. Rheinmetall AG is known for its expertise in defense technologies, providing innovative solutions for air defense systems, combat vehicles, and weapon systems. Through its Aerospace division, the company contributes to advancements in aircraft systems, including avionics, aircraft components, and maintenance services. Rheinmetall's commitment to excellence and cutting-edge technologies solidifies its position as a key player in the Defense industry.
#19 Spirit AeroSystems Holdings, Inc.
Employees: 18K
Revenue: 7.2B$
Website: https://www.spiritaero.com
Description: Spirit AeroSystems Holdings, Inc. is a leading aerospace company based in Wichita, Kansas, United States. With its headquarters located in North America, the company operates in the Defense industry within the broader Aerospace sector. Founded in 2005, Spirit AeroSystems has grown to become one of the largest non-original equipment manufacturer (OEM) suppliers in the global aerospace industry. The company specializes in the design, development, and production of aerostructures, including fuselages, wing components, and propulsion systems. With a workforce of approximately 18,000 employees, Spirit AeroSystems plays a vital role in supporting the defense needs of various countries around the world. The company generates significant revenue, with an annual turnover of approximately 7.2 billion US dollars.
#18 Harris Corporation
Employees: 17K
Revenue: 8.6B$
Website: https://www.harris.com/
Description: Harris Corporation, headquartered in Melbourne, United States, is a leading company in the Defense industry. With a rich history dating back to its founding in 1895, Harris Corporation has established itself as a prominent player in the aerospace sector. The company employs approximately 17,000 individuals worldwide, contributing to its significant impact in the industry. Harris Corporation generates an impressive revenue of 8.6 billion dollars, solidifying its position as a major player in the market. Committed to innovation and excellence, Harris Corporation continues to provide cutting-edge solutions and technologies in the defense sector, ensuring the safety and security of nations around the globe.
#17 Huntington Ingalls Industries, Inc.
Employees: 41K
Revenue: 10B$
Website: https://www.huntingtoningalls.com
Description: Huntington Ingalls Industries, Inc. is a leading defense company operating in the Aerospace industry. Headquartered in Newport News, United States, the company was founded in 2011. With a workforce of approximately 41,000 employees, Huntington Ingalls Industries is dedicated to designing, building, and maintaining technologically advanced ships and submarines for the defense sector. The company's primary focus is on providing products and services to the United States Navy and Coast Guard. Huntington Ingalls Industries generates an annual revenue of around 10 billion dollars, making it one of the key players in the defense industry. The company's commitment to innovation, quality, and customer satisfaction has established its reputation as a reliable and trusted partner in the aerospace defense sector.
#16 Leidos Holdings, Inc.
Employees: 40K
Revenue: 12.3B$
Website: https://www.leidos.com
Description: Leidos Holdings, Inc. is a leading company in the Aerospace and Defense industry. Headquartered in Reston, United States, the company was founded in 1969. With approximately 40,000 employees, Leidos operates in various sectors of the defense industry, providing innovative solutions and services. The company offers a wide range of expertise, including engineering, cybersecurity, logistics, intelligence, and more. Leidos is known for its advanced technology solutions that support the defense infrastructure and enhance national security. Through its continuous advancements and collaborations, Leidos remains at the forefront of the aerospace and defense industry, contributing to the development and implementation of cutting-edge solutions.
#15 Textron Inc.
Employees: 35K
Revenue: 13B$
Website: https://www.textron.com/
Description: Textron Inc. is a leading company in the Defense industry, operating within the parent industry of Aerospace. Headquartered in Providence, United States, Textron has been in operation since 1923. With a workforce of approximately 35,000 employees, the company generates a revenue of around 13 billion dollars. Textron is known for its significant contributions to the defense sector, providing a wide range of products and services to military and government customers. The company specializes in manufacturing advanced aircraft, defense systems, and specialized vehicles. Textron's commitment to innovation and technological advancements has positioned it as a key player in the Defense industry, ensuring the safety and security of nations around the world.
#14 Leonardo S.p.A.
Employees: 36K
Revenue: 13.8B$
Website: https://www.leonardocompany.com/en
Description: Leonardo S.p.A. is a leading aerospace and defense company headquartered in Rome, Italy. With a rich history dating back to 1948, the company has established itself as a major player in the global defense industry. Leonardo specializes in designing, manufacturing, and supplying advanced defense systems, aircraft, helicopters, and satellites. The company's innovative solutions cater to the evolving needs of armed forces worldwide, enhancing their operational capabilities and ensuring national security. With a workforce of approximately 36,000 employees, Leonardo operates across Europe, the Americas, Asia, and the Middle East. In 2020, the company reported a revenue of 13.8 billion dollars, further solidifying its position as a key player in the aerospace and defense sector.
#13 Thales Group
Employees: 80K
Revenue: 18B$
Website: https://www.thalesgroup.com
Description: Thales Group, headquartered in Paris, France, is a leading player in the Defense industry, specifically in the Aerospace sector. Founded in 1893, the company has a rich history and extensive expertise in delivering innovative solutions for defense and security applications. With a workforce of approximately 80,000 employees, Thales Group is committed to providing cutting-edge technologies and services to support the aerospace defense needs of its global customers. The company offers a wide range of solutions, including communication systems, avionics, radar systems, and air traffic management solutions. Thales Group's revenue stands at around 18 billion dollars, solidifying its position as a major player in the aerospace defense industry.
#12 L3Harris Technologies, Inc.
Employees: 50K
Revenue: 18B$
Website: https://www.l3harris.com/
Description: L3Harris Technologies, Inc. is a leading aerospace and defense company operating in the Defense industry. Headquartered in Melbourne, United States, L3Harris specializes in providing advanced technology solutions to government and commercial customers. With a workforce of approximately 50,000 employees, the company offers a wide range of products and services including communication systems, intelligence, surveillance and reconnaissance systems, electronic warfare systems, and space and airborne systems. L3Harris is committed to delivering innovative solutions that enhance mission capabilities and ensure the safety and security of its customers. In 2019, the company generated revenues of 18 billion dollars, solidifying its position as a key player in the defense sector.
#11 Safran SA
Employees: 92K
Revenue: 24B$
Website: https://www.safran-group.com/
Description: Safran SA is a leading aerospace company operating in the Defense industry. With its headquarters in Paris, France, Safran specializes in manufacturing aircraft engines, propulsion systems, and aerospace equipment. The company was founded in 2005 and has grown to employ approximately 92,000 employees worldwide. Safran's revenue in the Defense sector reached an impressive 24 billion dollars. The company is renowned for its advanced technological innovations and contributions to the defense capabilities of various countries. Safran's expertise in aerospace engineering and defense systems makes it a key player in the global aerospace industry.
#10 BAE Systems Plc
Employees: 88K
Revenue: 26.1B$
Website: https://www.baesystems.com/en
Description: BAE Systems Plc is a leading company in the Defense industry, operating in the Aerospace sector. With its headquarters in London, United Kingdom, the company has been at the forefront of providing advanced technology and solutions for defense and security worldwide since its founding in 1999. BAE Systems employs approximately 88,000 dedicated professionals who work tirelessly to develop innovative products and services to meet the evolving needs of their customers. The company's revenue stands at an impressive 26.1 billion dollars, reflecting its strong position in the market. BAE Systems continues to demonstrate its commitment to delivering cutting-edge solutions that ensure the safety and security of nations across the globe.
#9 Northrop Grumman Corporation
Employees: 90K
Revenue: 33B$
Website: https://www.northropgrumman.com/
Description: Northrop Grumman Corporation is a leading aerospace and defense company based in Falls Church, United States. With its headquarters located in North America, the company operates within the defense industry, specifically in the aerospace sector. Established in 1939, Northrop Grumman has grown to become a major player in the industry, employing approximately 90,000 individuals worldwide. The company generates an impressive annual revenue of 33 billion dollars. Northrop Grumman specializes in the development and manufacturing of advanced technological solutions for national security, including aircraft, unmanned systems, space systems, and advanced electronics. With its commitment to innovation and cutting-edge capabilities, Northrop Grumman remains at the forefront of aerospace and defense advancements.
#8 Honeywell International Inc.
Employees: 113K
Revenue: 36.7B$
Website: https://www.honeywell.com
Description: Honeywell International Inc. is a multinational company headquartered in Charlotte, United States. With a history dating back to 1906, the company operates in the defense industry within the aerospace sector. Honeywell specializes in providing advanced technology solutions for defense applications, including aerospace systems, avionics, engines, and defense electronics. The company's products and services are crucial components in military aircraft, missiles, and space systems. With over 113,000 employees worldwide, Honeywell generates an annual revenue of 36.7 billion dollars. Through its continuous innovation and commitment to excellence, Honeywell plays a significant role in shaping the defense industry and contributing to global security.
#7 General Dynamics Corporation
Employees: 100K
Revenue: 39B$
Website: https://www.gd.com
Description: General Dynamics Corporation, headquartered in Falls Church, United States, is a leading player in the Defense industry. With a history dating back to 1952, the company has established itself as a prominent manufacturer of aerospace and defense products. General Dynamics operates in various segments, including Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The company's Aerospace division focuses on designing and producing business-jet aircraft, while Combat Systems develops and manufactures military vehicles and weapons systems. General Dynamics' Information Technology segment offers IT solutions and services, and Mission Systems provides advanced technology solutions for defense, intelligence, and homeland security. Lastly, the Marine Systems division specializes in designing and building submarines and surface ships for naval forces worldwide. With approximately 100,000 employees and an annual revenue of 39 billion dollars, General Dynamics continues to deliver innovative solutions to meet the evolving needs of the defense industry.
#6 Lockheed Martin Corporation
Employees: 100K
Revenue: 53.7B$
Website: https://www.lockheedmartin.com
Description: Lockheed Martin Corporation is a leading aerospace and defense company headquartered in Bethesda, United States. With its roots dating back to 1909, Lockheed Martin operates in the defense industry, specializing in the development, manufacturing, and integration of advanced technology systems, products, and services. The company's diverse portfolio includes aircraft, missiles, satellites, defense systems, and cybersecurity solutions that are utilized by both the U.S. government and international customers. Lockheed Martin is known for its innovation and commitment to advancing aerospace technology, and its contributions have played a significant role in national security and space exploration. With approximately 100,000 employees, the company generates substantial revenue of 53.7 billion dollars, solidifying its position as a major player in the defense industry.
#5 Boeing Company
Employees: 140K
Revenue: 58B$
Website: https://www.boeing.com
Description: Boeing Company, headquartered in Chicago, United States, is a prominent player in the Aerospace industry, specifically in Defense. Founded in 1916, Boeing has established itself as a leading manufacturer and supplier of defense products and services. With a workforce of approximately 140,000 employees, the company operates globally, delivering innovative solutions for military aircraft, satellites, missile defense systems, and electronic warfare capabilities. Boeing's defense segment plays a crucial role in supporting national security and defense operations worldwide. The company's revenue in the defense sector amounts to around 58 billion US dollars, reflecting its significant presence and impact in the industry.
#4 Airbus SE
Employees: 133K
Revenue: 70B$
Website: https://www.airbus.com/
Description: Airbus SE, headquartered in Toulouse, France, is a leading player in the aerospace industry, specifically in the Defense sector. With a rich history dating back to 1970, Airbus has established itself as a major manufacturer and supplier of defense aircraft, systems, and services globally. The company employs approximately 133,000 people worldwide, contributing to its strong reputation as an industry leader. Airbus generates substantial revenue, amounting to around 70 billion dollars annually. Through its innovative solutions and cutting-edge technologies, Airbus plays a pivotal role in ensuring the defense capabilities of nations around the world.
#3 United Technologies Corporation
Employees: 240K
Revenue: 77B$
Website: https://www.utc.com/
Description: United Technologies Corporation (UTC) is a leading aerospace company headquartered in Farmington, United States. With a rich history dating back to 1934, UTC has established itself as a key player in the defense industry. The company boasts a workforce of approximately 240,000 employees worldwide, who contribute to its impressive annual revenue of 77 billion dollars. UTC excels in the design, manufacturing, and servicing of advanced aerospace systems, including aircraft engines, avionics, and surveillance technologies. Their innovative solutions cater to the needs of both government and commercial customers, bolstering national security and enhancing global transportation capabilities. Through continuous research and development, UTC remains at the forefront of aerospace innovation, ensuring the highest standards of quality and reliability in the defense sector.
#2 General Electric Company
Employees: 200K
Revenue: 95B$
Website: https://www.ge.com
Description: General Electric Company, headquartered in Boston, United States, is a major player in the Defense industry within the Aerospace sector. With a rich history dating back to 1892, GE has established itself as a leader in developing advanced technologies and innovative solutions for defense applications. The company boasts a workforce of approximately 200,000 employees globally. GE's revenue in the Defense industry reaches an impressive 95 billion US dollars. Leveraging its expertise in aviation, electrical power, and digital solutions, GE provides a wide range of defense products and services, including aircraft engines, avionics, power systems, and advanced analytics. Through continuous innovation and strategic partnerships, GE remains at the forefront of driving advancements in the defense sector, ensuring the safety and security of nations worldwide.
#1 Raytheon Technologies Corporation
Employees: 200K
Revenue: 100B$
Website: https://www.rtx.com
Description: Raytheon Technologies Corporation is a leading player in the Aerospace and Defense industry. Headquartered in Waltham, United States, the company was founded in 2020. With approximately 200,000 employees, Raytheon Technologies operates in various sectors, including Defense. The company specializes in developing advanced technologies and solutions for defense applications, ranging from missile systems and radars to cybersecurity and intelligence. Raytheon Technologies is known for its innovative approach to defense and its commitment to providing cutting-edge solutions to its customers. With a revenue of 100 billion dollars, the company has established itself as a key player in the aerospace and defense industry, contributing significantly to national security and global defense capabilities.
Summary
The top companies in the Defense sub-industry of Aerospace have been analyzed and ranked based on their performance and accomplishments. These companies have demonstrated exceptional success in the defense sector, contributing significantly to the overall growth of the Aerospace industry.
One unexpected finding during the investigation is the increasing importance of technology and innovation in the Defense sub-industry. Companies that have invested in advanced technologies and embraced innovation have gained a competitive edge, leading to their success in the market.
Among the premier companies in the Defense sub-industry are Lockheed Martin, Boeing Defense, Space & Security, Northrop Grumman Corporation, Raytheon Technologies Corporation, and General Dynamics Corporation. These companies have established themselves as leaders in providing defense solutions and have a strong presence in the global market.
A key element driving the prosperity of these leading firms is their focus on research and development. These companies invest heavily in R&D to develop cutting-edge defense technologies, which has enabled them to meet the evolving needs of defense forces worldwide.
What sets these eminent companies apart from their industry rivals is their ability to deliver comprehensive defense solutions. They offer a wide range of products and services, including military aircraft, missiles, radar systems, electronic warfare systems, and cybersecurity solutions. Their expertise in multiple areas allows them to offer integrated defense solutions, giving them a competitive advantage.