10 Largest Defense Stocks in 2025

6. Northrop Grumman Corporation (NYSE:NOC)

Market Cap: $86.5 Billion

Number of Hedge Fund Holders: 42

Northrop Grumman Corporation (NYSE:NOC) is among the 10 Largest Defense Stocks in 2025. During an earnings call with investors on October 21, CEO Kathy Warden said the defense firm was expecting more new U.S. Air Force (USAF) contracts for the B-21 program by the end of this year.

In July, Congress had passed the budget reconciliation bill, providing $4.5 billion to accelerate the production of the stealth bomber. According to Warden, Northrop Grumman Corporation (NYSE:NOC) is actively working with the USAF to accelerate production. However, the ongoing government shutdown has slowed down those discussions.

If an agreement is reached, the company plans on increasing investments to boost production. An acceleration of the B-21 program is also likely to result in higher revenue for the company in 2026, Warden said, while declining to comment on how much the top-line could grow.

The Northrop Grumman Corporation (NYSE:NOC) CEO was quoted as saying the following by Defense News:

“The actual production rates, the timing, and ultimately the outcome of those negotiations with the Air Force would define what that financial profile looks like. It’s too early for me to speculate on that.”

According to reports, the USAF intends to acquire at least 100 B-21s to replace its aging and retiring fleets of the B-2 Spirit and B-1 Lancers at some point in the 2030s. However, if the service decides to buy more than 100 B-21s, the request would be addressed in separate negotiations from the production acceleration discussions, said Warden.

Northrop Grumman Corporation (NYSE:NOC) is one of the largest defense contractors in the world. It is engaged in the design, development, integration, and maintenance of advanced systems across aeronautics, space, defense electronics, and mission solutions.