Before getting into the list of the 15 most valuable aerospace companies in the world, let’s take a look at some data and trends in the global aerospace industry, and also develop some context behind what an aerospace company does. Aerospace is the branch of technology that specializes in both aviation and space flight. The aerospace industry is concerned with the design and manufacture of aircraft, rockets, and missiles that operate in both the Earth’s atmosphere as well as outer space. Aerospace companies, therefore, build complex high-speed vehicle systems for which advanced structures and weight-efficiency are essential. These systems include but are not limited to, military aircraft, commercial aircraft, helicopters, and unmanned aerial vehicles, or UAVs. Most of the companies on our list are focused on military applications because that is where the real money is.
The biggest companies in the aerospace industry such as General Dynamics Corporation (NYSE: GD), Northrop Grumman Corporation (NYSE: NOC), Lockheed Martin Corporation (NYSE: LMT), Raytheon Technologies Corporation (NYSE: RTX), and The Boeing Company (NYSE: BA) are not only the most valuable aerospace companies in the world but also some of the top defense contractors in the world as well. The aerospace industry is one of the most profitable industries in the world. According to the Aerospace & Defense Global Market Report 2021, the global aerospace and defense market is expected to grow from $736.36 billion in 2020 to $774.54 billion in 2021, registering a compound annual growth rate (CAGR) of 5.2%. By 2025, the market is expected to reach a value of $973.2 billion, growing at a CAGR of 6%. North America accounted for 35% of the market in 2020, Asia Pacific accounted for 29%, and Africa was the smallest region in the global aerospace & defense market.
It is noteworthy that the aerospace industry is broad, and defense is just one of its areas. The defense sector has thrived and brought in billions of dollars in revenue to these companies, but on the other hand, the commercial sector has suffered immensely since the outbreak of Covid-19. As the pandemic raged and infected millions around the world, countries had to enforce nationwide lockdowns which also led to restrictions being placed on traveling. As governments around the world prohibited the movement of goods across countries, manufacturers had to halt production due to a lack of parts and raw materials. Aerospace giants, The Boeing Company and Airbus SE (EPA: AIR.PA) had to halt production and shut down their manufacturing plants, and idle thousands of workers. The Boeing Company had to lay off an additional 7000 of its employees, on top of the earlier announcement of cutting down 19,000 from its workforce with the motivation of bringing the number down to 130,000 by the end of this year. These cuts in the workforce were a result of the major dip of $754 million in revenues for Q3 of 2020.
Our Methodology
To determine the 15 most valuable aerospace companies in the world we narrowed down to some of the most notable and famous aerospace players in the world. We then sourced the 2019 revenues these companies generated, and their current market capitalization from Yahoo Finance. In our rankings, we gave preference to market capitalization and ranked all companies in ascending order of market caps, going from the least valuable to the most.
With this context in mind, let’s now take a look at the 15 most valuable aerospace companies in the world.
Most Valuable Aerospace Companies in the World
15. Leonardo S.p.a. (BIT: LDO.MI)
Market Cap: $4.7 billion
Total Revenue: $15.8 billion
Leonardo S.p.a. (BIT: LDO.MI) is an Italian multinational company that specializes in aerospace, defense, and security. The company has its corporate headquarters in Rome, and 180 sites across the globe. Leonardo S.p.a. (BIT: LDO.MI) designs, develops and markets a range of helicopters for commercial, public service, and military applications. On top of this, Leonardo S.p.a. (BIT: LDO.MI) also manufactures equipment for non-military space programs and offers missiles and drones along with its range of helicopters. Leonardo S.p.a. (BIT: LDO.MI) has over 49,000 employees spread out worldwide and its products, systems, and services are currently in use in about 150 countries. The company generated total revenues that amount to $15.8 billion in 2020, meriting its inclusion in our list of the 15 most valuable aerospace companies in the world.
Like General Dynamics Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, and The Boeing Company, Leonardo S.p.a. (BIT: LDO.MI) is a global provider of aerospace and defense products and services.
14. Dassault Aviation SA (EPA: AM.PA)
Market Cap: $9.3 billion
Total Revenue: $6.4 billion
Dassault Aviation SA (EPA: AM.PA) is a French aerospace and defense company. The company is headquartered in Paris, France, but is involved in the aeronautical business on an international level as well. Dassault Aviation SA designs and builds military aircraft, business jets, and space systems. Among their offerings, we have Rafale a twin-engine fighter aircraft, the Dassault nEUROn which is an unmanned combat air vehicle, Falcon aircraft for maritime surveillance, intelligence, and medical evacuation missions, and the Dassault Mirage 2000 among medium altitude long endurance remotely piloted aircraft systems. The company has created over 100 prototypes in the last century and has delivered over 10,000 aircraft to 90 countries. Dassault Aviation SA has over 12,000 employees, most of whom serve in France, and boasts 2,100 Falcon jets and 1000 fighter aircraft that are in service and operational.
Like General Dynamics Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, and The Boeing Company, Dassault Aviation SA is one of the 15 most valuable aerospace companies in the world.
13. Rolls-Royce Holdings plc (OTC: RYCEY)
Market Cap: $12.8 billion
Total Revenue: $16.4 billion
Rolls-Royce Holdings plc (OTC: RYCEY) is a British multinational aerospace and defense company. The company operates in four segments: civil aerospace, power systems, defense, and ITP aero. The civil aerospace segment develops, manufactures, and sells aero engines for commercial aircraft, and business aviation markets. The power systems segment provides power systems for marine and defense applications. The defense segment offers aero engines for military transport, and naval engines as well. The ITP aero segment is involved in the design, research, development, and testing of aeronautical engines. Rolls-Royce Holdings plc (OTC: RYCEY) also provides maintenance, repair, and overhaul services for regional airlines, as well as business aviation, industrial, and defense applications, along with aftermarket services. Rolls-Royce Holdings plc (OTC: RYCEY) boasts annual revenues of up to $16.4 billion in 2020 and has over 48,000 employees.
Like General Dynamics Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, and The Boeing Company, Rolls-Royce Holdings plc (OTC: RYCEY) is a defense and aerospace giant.
12. Textron Inc. (NYSE: TXT)
Market Cap: $16.5 billion
Total Revenue: $11.6 billion
Textron Inc. (NYSE: TXT) is an American conglomerate based in Providence, the capital of Rhode Island. The company has subsidiaries Arctic Cat, Bell Textron, Textron Aviation, and Lycoming Engines. Textron Inc. operates in the aerospace, defense, industrial, and finance businesses across the globe. Textron Inc. is most famous for its brands of aircraft such as Bell, Cessna, Beechcraft, and Hawker. Textron Inc. boasts a market cap of $16.5 billion and has over 33,000 people in its workforce around the world.
Like General Dynamics Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, and The Boeing Company, Textron Inc. is a renowned global provider of aerospace and defense products and services.
11. BAE Systems plc (OTC: BAESY)
Market Cap: $26.2 billion
Total Revenue: $26.7 billion
BAE Systems plc (OTC: BAESY) is a British multinational provider of defense, aerospace, and security solutions. The company also has a subsidiary in the United States, headquartered in Virginia. Recently, BAE Systems plc (OTC: BAESY) secured a $42.5 million contract from the U.S. Navy for landing systems integration (LSI) support. The company operates in 5 divisions: electronic systems, cyber & intelligence, platforms & services, air, and maritime. The air division of BAE Systems plc (OTC: BAESY) reported annual sales of $10.8 billion in 2020. On top of this, the company reported gross profits of $17 billion in 2020. BAE Systems plc (OTC: BAESY) has over 90,000 people serving worldwide and boasts a market cap of $26.2 billion, meriting its inclusion in our list of the 15 most valuable aerospace companies in the world.
10. L3Harris Technologies, Inc. (NYSE: LHX)
Market Cap: $46.2 billion
Total Revenue: $18.2 billion
L3Harris Technologies, Inc. (NYSE: LHX) is an American aerospace and defense technology company that provides intelligent solutions for defense needs of any kind. The company develops command and control (C6SIR) systems, night vision equipment, electronic systems, tactical SATCOM radios, wireless equipment, and, and both terrestrial and spaceborne antennas for use in the government, defense, and commercial sectors. On top of this, L3Harris Technologies, Inc. provides solutions for commercial and military airplanes, helicopters, and unmanned aerial vehicles (UAVs). The company specializes in surveillance, electronic warfare, microwave weaponry, and I.T. services.
Like General Dynamics Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, and The Boeing Company, L3Harris Technologies, Inc. is one of the 15 most valuable aerospace companies in the world.
9. Safran SA (EPA: SAF.PA)
Market Cap: $55.2 billion
Total Revenue: $19.6 billion
Safran SA (EPA: SAF.PA) is a French multinational aerospace and defense company. The company with its subsidiaries operates in 3 segments: aerospace propulsion, aircraft equipment, and defense. The aerospace propulsion segment is involved in the development, marketing, and upkeep of propulsion systems for commercial and military aircraft, combat and training aircraft, rocket engines, civil and military helicopters, and tactical missiles and drones.
The aircraft equipment segment of Safran SA provides landing gear and brakes, engine systems among other equipment like thrust reversers. The defense segment is responsible for the design and development of inertial navigation systems for aviation, flight commands for helicopters, and tactical optronic systems and drones. Safran SA has more than 78,000 employees that serve worldwide. The company boasts a market cap of $55.2 billion and reported gross profits of $8.8 billion in 2020.
8. General Dynamics Corporation (NYSE: GD)
Market Cap: $55.4 billion
Total Revenue: $37.9 billion
Among the top 10 of the 15 most valuable aerospace companies in the world, we have General Dynamics Corporation, which is an American provider of aerospace and defense services and products. The company is a leading manufacturer of a range of products, from Gulfstream business jets and combat vehicles to nuclear-powered submarines and communications systems.
In 2020, General Dynamics Corporation had over 100,000 employees and generated revenues that amounted to $37.9 billion. General Dynamics Corporation was awarded a $4.6 billion contract to produce M1A2 SEPv3 Abrams main battle tanks for the U.S. Army.
The company boasts a market cap of $55.4 billion and like Northrop Grumman Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, The Boeing Company, and Textron Inc., General Dynamics Corporation is one of the 15 most valuable aerospace companies in the world.
7. Northrop Grumman Corporation (NYSE: NOC)
Market Cap: $58.1 billion
Total Revenue: $36.8 billion
Northrop Grumman Corporation is an American multinational aerospace and defense technology company. The company had 97,000 employees in 2020 and reported revenues exceeding $36 billion in the very year. Northrop Grumman Corporation has a market cap of $58.1 billion which justifies its rank in our list of the 15 most valuable aerospace companies in the world. Northrop Grumman Corporation provides solutions to the most complex of problems in space, aeronautics, defense, and cyberspace to meet the ever-changing needs of customers worldwide. Just a few days ago, Northrop Grumman Corporation’s (NYSE: NOC) Global Hawk was used by the U.S. Air Force during Advanced Battle Management System (ABMS) exercises for the United States European Command.
Like General Dynamics Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, The Boeing Company, and Textron Inc., Northrop Grumman Corporation is a global provider of aerospace and defense products and services.
6. Lockheed Martin Corporation (NYSE: LMT)
Market Cap: $99.1 billion
Total Revenue: $65.4 billion
Lockheed Martin Corporation is an American aerospace and defense company that also specializes in arms, security, and advanced technologies. Lockheed Martin Corporation is best known for its contributions to the military. The company operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
The aeronautics division offers combat and air mobility aircraft, unmanned air vehicles (UAVs), among other products. The missiles and fire control division offers air and missile defense systems, fire control systems, engineering support, and integration services. The rotary and mission systems segment offers military and commercial helicopters. The space division covers satellites, space transportation systems, advanced strikes, defensive missile systems, government classified systems, and services in support of national security systems.
In 2020, U.S. Government customers accounted for 69% and international customers accounted for 31% of Aeronautics’ net sales of $26.3 billion. Net sales from Aeronautics’ combat aircraft products and services represented 33% of their net sales in 2020.
Like General Dynamics Corporation, Raytheon Technologies Corporation, The Boeing Company, Textron Inc., and Northrop Grumman Corporation, Lockheed Martin Corporation is one of the 15 most valuable aerospace companies in the world.
5. Airbus SE (EPA: AIR.PA)
Market Cap: $107 billion
Total Revenue: $58.8 billion
Airbus SE is a European multinational aerospace corporation. Airbus designs, manufactures, and markets civil and military aerospace products in the Netherlands and internationally. Airbus SE operates through three divisions: commercial, helicopters, and defense and space. The commercial division, also known as Airbus, develops, manufactures, and sells commercial jets that have a seating capacity of about 100 seats. The helicopters division develops, manufactures, and sells civil and military helicopters. It also provides helicopter maintenance. The company’s defense and space segment develops, manufactures, sells, and supports military aircraft, such as combat, mission, transport, tanker aircraft, and unmanned aerial systems (UAVs). Airbus SE is among the top 5 of the 15 most valuable aerospace companies in the world. The company boasts a market cap of $107 billion.
Alexey Y. Petrov/Shutterstock.com
4. General Electric Company (NYSE: GE)
Market Cap: $115.2 billion
Total Revenue: $79.6 billion
General Electric Company (NYSE: GE) is an American multinational conglomerate holding company headquartered in Boston. The company operates through four segments: aviation, healthcare, power, and renewable energy. The company’s aviation division develops, manufactures, and sells commercial and military aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. The majority of sales of General Electric Company of military products and services are generated by its aviation division. General Electric Company’s (NYSE: GE) aviation division just won a five-year, $208.16 million contract from the U.S. Army to overhaul the cold section module of T700 engines that power military helicopters. General Electric Company was ranked at number 33 on the Fortune 500 in 2020 based on the whopping $79.6 billion revenues it generated. General Electric Company has over 174,000 employees and boasts a market capitalization of $115.2 billion, making it one of the 15 most valuable aerospace companies in the world.
Jordan Tan / Shutterstock.com
3. Raytheon Technologies Corporation (NYSE: RTX)
Market Cap: $131.5 billion
Total Revenue: $56.6 billion
Raytheon Technologies Corporation is an American multinational aerospace and defense conglomerate holding company based in Waltham, Massachusetts. Raytheon Technologies Corporation is one of the largest aerospace and defense companies in the world by revenue and market capitalization, which is why it is among the top 3 of the 15 most valuable aerospace companies in the world. The company operates through four divisions: Pratt and Whitney, Collins Aerospace Systems, Raytheon Intelligence and Space, and Raytheon Missiles and Defense. The Pratt and Whitney division design and manufactures aircraft engines and gas turbines. Collins Aerospace Systems designs and builds aerospace systems for commercial, regional, corporate, and military aircraft, and is also a major supplier for international space programs. Raytheon Intelligence and Space develops and provides communication systems for missions, training, and cyber solutions to intelligence, defense, federal, and commercial customers. The Missiles and Defense division, as its name suggests, develops, produces, and provides integrated air and missile defense systems.
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2. The Boeing Company (NYSE: BA)
Market Cap: $137.4 billion
Total Revenue: $58.1 billion
The Boeing Company is an American multinational corporation that, along with its subsidiaries, designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The Boeing Company operates through three main divisions: Boeing Commercial Airplanes (BCA), Boeing Defense, Space & Security (BDS), and Boeing Global Services. The BCA division designs and manufactures commercial jet aircraft for passenger and cargo requirements. The BDS division is involved in the research, development, production, and modification of manned and unmanned military aircraft and weapons systems. The Global Services division of The Boeing Company offers products and services, including supply chain and logistics management, engineering, spare parts, pilot and maintenance training systems and services, and data analytics and digital services to commercial and defense customers.
1. Honeywell International Inc. (NASDAQ: HON)
Market Cap: $160 billion
Total Revenue: $32.6 billion
Topping our list of the 15 most valuable aerospace companies in the world is Honeywell International Inc. (NASDAQ: HON), boasting a market cap of an astounding $160 billion. Honeywell International Inc. is an American multinational conglomerate holding company based in North Carolina. The conglomerate has four main businesses: aerospace, building technologies, performance materials and technologies (PMT), and safety and productivity solutions (SPS). Honeywell International Inc. just won a four-year, $476 million contract from the U.S. Army to build helicopter engines for the army’s CH-47 Chinook helicopter at its aerospace global corporate headquarters in Phoenix.
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You can also take a peek at 15 Largest Defense Companies in the World and 10 Best Defense Stocks To Buy Now
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