5 Largest Defence Companies in the World

1. Lockheed Martin (NYSE:LMT)

Total revenue in 2019 (in billions of dollars): 56,606

Total revenue in 2018 (in billions of dollars): 50,536

Topping the list of 5 largest defence companies in the world, and by a comfortable distance, is Lockheed Martin. The company improved its revenues by $6 billion in 2019 when compared to 2018, registering a massive 12% growth year on year, showcasing the strength of the company. Even though its overall revenues are much lower than Boeing’s, 95% of its revenue is in the defence sector, and hence, it beats out Boeing for the top spot. While the vast majority of its revenue is derived form the US government, a significant amount is also derived from contracts with foreign governments. The company is currently engaged in the production of the F-35 Lightning II where it is the prime contractor along with partners BAE Systems and Northrop Gunman. However, the program has also attracted a lot of controversy over ballooning costs and concerns over safety and performance of the jet.

See also: 20 countries with the highest military spending in the world and 8 most powerful nuclear bombs in the world in 2017

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