Top 10 Aerospace and Defense Companies in the US in 2021 by Revenue

Lockheed Martin Corp, Raytheon Technologies Corp, The Boeing Co, General Dynamics Corp, and Northrop Grumman Corp are the top 5 aerospace and defense companies in the US in 2021 by revenue. In aggregate, the top 10 aerospace and defense companies in the US generated revenues of $373,795 million with average revenue growth of 3.5%. The majority of the top 10 companies had revenue growth in 2021 except 2 Northrop Grumman Corp (-3.1%) and L3Harris Technologies Inc (-2.1%). The highest revenue growth was registered by Raytheon Technologies Corp (13.8%), while the lowest growth was registered by General Dynamics Corp (1.4%). All these top aerospace and defense companies employed a total of 807,100 people in 2021. The United States of America-based Lockheed Martin Corp is the leading aerospace and defense company in the US (by revenue). The company reported revenues of $67,044 million for the fiscal year ended December 2021 (FY2021), an increase of 2.5% over FY2020 due to an increase in service sales was primarily attributable to higher sales of approximately $180 million at Aeronautics due to higher sustainment volume on F-35, partially offset by lower sustainment volume on F-22. The company provides advanced technology systems and products for defense, civil and commercial applications. The company offers management, technical, engineering, scientific, logistics, and information services. Its product portfolio includes military and rotary-wing aircraft, airlift, ground vehicles, missiles and guided weapons, radar systems, sensors, unmanned systems, and naval systems. It manages the R&D arm that focuses on the development of emerging technologies and enhancement of existing technologies to meet the changing market trends and customer needs. In FY2021, the company incurred expenses of US$1,500 million on R&D, which as a percentage of revenue stood at 2.2%. Lockheed employed 114,000 people in 2021. Raytheon Technologies Corp is one of the leading aerospace and defense companies in the US (by revenue). It is a provider of advanced systems and services for commercial, military and government customers. Its Product offerings comprise communications systems, integrated avionics systems, navigation systems, management and distribution systems, electric power generation, environmental control systems, air data and aircraft sensing systems, flight control systems, and engine control systems. The company reported revenue of US$18,449 million for FY2021, which decreased 4.3% YoY and recorded negative growth of 15.8% during 2019-21. The segment accounted for 27.4% of the company's revenue in FY2021.