The Top 10 Largest Defense Contractors in America 🪖

Key Takeaways

• Lockheed Martin stands as the world's largest defense contractor, receiving $61.4 billion in Department of Defense contracts in 2023.
• RTX Corporation (formerly Raytheon Technologies) ranks in second, with $24.1 billion in awarded contracts that year.
• Following closely behind is General Dynamics, which operates four main business segments: aerospace, marine systems, combat systems, and technologies.

A Highly Consolidated Industry

Notably, the number of prime contractors for the Department of Defense has declined from 51 in the 1990s to just five today, driven by industry consolidation.

These prime contractors include legacy firms Lockheed Martin, RTX Corporation, General Dynamics, Boeing, and Northrup Grumman.

In 2023, the Department of Defense awarded $609.2 billion in contracts, with Lockheed Martin receiving 10% of the total share.