Earlier this year, the Biden Administration submitted a fiscal 2024 defense budget for congressional approval. At $842 billion, the proposal marks a $26 billion increase from the previous year’s budget, and a $100 billion increase from fiscal 2022. Against a backdrop of China’s rapid militarization, the latest budget will fund the Defense Department’s largest-ever investments in readiness, procurement, and research and development, as noted in comments by Secretary of Defense Lloyd Austin. (Here is a look at China’s 8 biggest weapons manufacturers, and what they build.)
These historic levels of investment will be a boon for defense contractors. Each year, the Pentagon relies on private sector contractors for everything from base maintenance and construction to weapons development and manufacturing, spending hundreds of billions of dollars in the process.
Partially as a result, America’s defense industry by far the largest of any country. As of 2021, 40 of the world’s 100 largest weapons manufacturers were headquartered in the United States.
Using 2021 arms sales data from the Stockholm International Peace Research Institute Arms Industry Database, 24/7 Wall St. identified the largest American weapons manufacturers, as measured by arms and military services sales. Each of the 36 companies on this list reported at least $1 billion in arms sales in 2021.
The products and services the companies on this list provide include communication and navigation systems, small arms ammunition, precision guided missiles, submarines, surface vessels, fixed and rotary wing aircraft, and battle tanks. The companies reporting the most revenue from arms sales have furnished the U.S. Air Force and Navy with hundreds of fighter jets and other aircraft, many of which have price tags of over $100 million.
Weapons procurement is only part of the picture, however, as many of the more sophisticated weapons systems used by the military are the product of years of development. The Air Force’s new long-range nuclear stealth bomber, the B-21 Raider, for example, which should be having its first flight at some point this year, was developed by Northrop Grumman, a Virginia-based contractor, over seven years before its introduction last December. (Here is a look at last year’s largest U.S. weapons contracts.)
Not only do the companies on this list often collaborate with the Pentagon on weapons development, but they often also collaborate with each other. Many weapons systems in the U.S. arsenal are so advanced that no single company can manage production from start to finish. A single fighter jet or tank may integrate an engine from one company, a computer system from another, and a gun turret from yet another.
Here are the largest American weapons manufacturers.
36. The Aerospace Corp.
> Arms sales in 2021: $1.0 billion (best estimate – approx. 89% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -1.2%
> Notable weapon(s) system(s) or service(s): Project Thor space-based weapons defense
> Headquartered in: El Segundo, CA
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35. Ball Corp.
> Arms sales in 2021: $1.1 billion (best estimate – approx. 8% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -3.2%
> Notable weapon(s) system(s) or service(s): Space based surveillance, BCP-100 spacecraft bus, STPSat-3 program
> Headquartered in: Broomfield, CO
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34. Amphenol Corp.
> Arms sales in 2021: $1.2 billion (approx. 11% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +11.7%
> Notable weapon(s) system(s) or service(s): Electronic components for military aircraft, drones, tanks, and ground vehicles
> Headquartered in: Wallingford, CT
33. Moog
> Arms sales in 2021: $1.3 billion (approx. 44% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -0.1%
> Notable weapon(s) system(s) or service(s): Flexible Missile Platform, Reconfigurable Integrated-weapons Platform, Turret Stabilization & Fire Control
> Headquartered in: Elma, NY
32. Curtiss-Wright Corp.
> Arms sales in 2021: $1.4 billion (approx. 55% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +5.0%
> Notable weapon(s) system(s) or service(s): Turret aiming and stabilization tools including Flick Rammer
> Headquartered in: Davidson, NC
31. Parsons Corp.
> Arms sales in 2021: $1.4 billion (approx. 39% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -0.6%
> Notable weapon(s) system(s) or service(s): ZEUS laser system, C2Core command and control tool suite
> Headquartered in: Centreville, VA
30. Fluor Corp.
> Arms sales in 2021: $1.4 billion (best estimate – approx. 12% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -19.3%
> Notable weapon(s) system(s) or service(s): Military base construction and management
> Headquartered in: Irving, TX
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29. Aerojet Rocketdyne
> Arms sales in 2021: $1.5 billion (approx. 67% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +6.0%
> Notable weapon(s) system(s) or service(s): LGM-35A Sentinel, Trident, Tomahawk, Javelin, Stinger, and PATRIOT missile propulsion
> Headquartered in: El Segundo, CA
28. Eaton
> Arms sales in 2021: $1.6 billion (approx. 8% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +18.9%
> Notable weapon(s) system(s) or service(s): Vehicle components for M1-A1 Abrahms tanks, Stryker combat vehicles, and Humvees
> Headquartered in: Cleveland, OH
27. Vectrus
> Arms sales in 2021: $1.6 billion (approx. 91% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -1.7%
> Notable weapon(s) system(s) or service(s): Support for weapons systems including Harpoon, SLAM ER, AIM 9X missiles, SH-60 Seahawk helicopters, and F/A-18 jets
> Headquartered in: McLean, VA
26. Teledyne Technologies
> Arms sales in 2021: $1.6 billion (approx. 36% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -5.4%
> Notable weapon(s) system(s) or service(s): Autonomous underwater Slocum G3 Glider, Gavia autonomous underwater vehicle, Extended Air Defense Simulation
> Headquartered in: Thousand Oaks, CA
25. BWX Technologies
> Arms sales in 2021: $1.6 billion (approx. 78% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -5.3%
> Notable weapon(s) system(s) or service(s): Nuclear submarine propulsion components, uranium enrichment
> Headquartered in: Lynchburg, VA
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24. Sierra Nevada Corp.
> Arms sales in 2021: $1.9 billion (best estimate – approx. 88% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -7.1%
> Notable weapon(s) system(s) or service(s): SNC Scorpion aircraft, A-29 Super Tucano aircraft, M-28 Special Operations Multi-Role Aircraft, Enhanced Medium Altitude Reconnaissance and Surveillance System
> Headquartered in: Sparks, NV
23. Jacobs Engineering Group
> Arms sales in 2021: $2.0 billion (approx. 14% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -1.7%
> Notable weapon(s) system(s) or service(s): Intelligence training and analysis, mission support services
> Headquartered in: Dallas, TX
22. ManTech International Corp.
> Arms sales in 2021: $2.1 billion (approx. 81% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +2.8%
> Notable weapon(s) system(s) or service(s): IT support services, digital platforms for Navy aircraft, mission support systems and services
> Headquartered in: Herndon, VA
21. TransDigm Group
> Arms sales in 2021: $2.4 billion (approx. 50% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +5.1%
> Notable weapon(s) system(s) or service(s): Military parachutes, spare parts for military airplanes and helicopters
> Headquartered in: Cleveland, OH
20. Bechtel Corp.
> Arms sales in 2021: $2.5 billion (best estimate – approx. 14% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +9.1%
> Notable weapon(s) system(s) or service(s): Ground based nuclear launch infrastructure, uranium processing services
> Headquartered in: Reston, VA
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19. Oshkosh Corp.
> Arms sales in 2021: $2.5 billion (approx. 33% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +7.3%
> Notable weapon(s) system(s) or service(s): Joint Light Tactical Vehicles, Enhanced Heavy Equipment Transporter System, Family of Medium Tactical Vehicles
> Headquartered in: Oshkosh, WI
18. General Atomics
> Arms sales in 2021: $2.8 billion (best estimate – approx. 0% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -2.4%
> Notable weapon(s) system(s) or service(s): Precision guided missiles, laser weapon systems, MQ-9A Reaper drone
> Headquartered in: San Diego, CA
17. Textron
> Arms sales in 2021: $3.4 billion (approx. 27% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -9.0%
> Notable weapon(s) system(s) or service(s): Bell V-280 Valor assault aircraft, Cased telescoped small arms and ammunition, Endurance Unmanned Aircraft Systems
> Headquartered in: Providence, RI
16. KBR
> Arms sales in 2021: $3.5 billion (approx. 48% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +9.5%
> Notable weapon(s) system(s) or service(s): Laser weapon systems, hypersonic target simulators
> Headquartered in: Houston, TX
15. Science Applications International Corp.
> Arms sales in 2021: $3.6 billion (approx. 48% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +2.5%
> Notable weapon(s) system(s) or service(s): Counter unmanned aerial systems, torpedo system engineering
> Headquartered in: Reston, VA
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14. General Electric
> Arms sales in 2021: $4.1 billion (approx. 6% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -13.1%
> Notable weapon(s) system(s) or service(s): Materials development, Black Hawk and Apache helicopter engines
> Headquartered in: Boston, MA
13. CACI International
> Arms sales in 2021: $4.3 billion (approx. 70% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -0.9%
> Notable weapon(s) system(s) or service(s): Military consulting, training, and IT services
> Headquartered in: Reston, VA
12. Amentum
> Arms sales in 2021: $5.0 billion (best estimate – approx. 78% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +3.3%
> Notable weapon(s) system(s) or service(s): Electronic submarine components, rotary wing flight training, aviation command and control support
> Headquartered in: Falls Church, VA
11. Honeywell International
> Arms sales in 2021: $5.2 billion (approx. 15% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -14.7%
> Notable weapon(s) system(s) or service(s): Operations platforms for military aircraft
> Headquartered in: Charlotte, NC
10. Booz Allen Hamilton
> Arms sales in 2021: $5.6 billion (approx. 67% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -2.4%
> Notable weapon(s) system(s) or service(s): Defense consulting, artificial intelligence development, tools for command, control, and communications and intelligence, surveillance, and reconnaissance
> Headquartered in: McLean, VA
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9. Peraton
> Arms sales in 2021: $5.8 billion (best estimate – approx. 83% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +0.0%
> Notable weapon(s) system(s) or service(s): Hypersonic Test Engineering, Mission Planning and Systems
> Headquartered in: Reston, VA
8. Leidos
> Arms sales in 2021: $8.0 billion (approx. 58% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +4.9%
> Notable weapon(s) system(s) or service(s): Multi-Mission Aircraft, GBU-69/B precision guided munitions
> Headquartered in: Reston, VA
7. Huntington Ingalls Industries (HII)
> Arms sales in 2021: $8.6 billion (approx. 90% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -0.3%
> Notable weapon(s) system(s) or service(s): Ford-Class aircraft carriers, Columbia-Class submarines, Virginia-class submarines
> Headquartered in: Newport News, VA
6. L3Harris Technologies
> Arms sales in 2021: $13.4 billion (approx. 75% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -9.7%
> Notable weapon(s) system(s) or service(s): Vehicle-Agnostic Modular Palletized ISR Rocket Equipment (VAMPIRE), Sky Warden ISR Strike Aircraft
> Headquartered in: Melbourne, FL
5. General Dynamics Corp.
> Arms sales in 2021: $26.4 billion (approx. 69% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -2.1%
> Notable weapon(s) system(s) or service(s): M1A1 Abrams Main Battle Tank, Stryker A1 armored vehicle
> Headquartered in: Reston, VA
4. Northrop Grumman Corp.
> Arms sales in 2021: $29.9 billion (approx. 84% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -5.8%
> Notable weapon(s) system(s) or service(s): B-21 Raider, B-2 Stealth Bomber, Mk-44 Stretch Bushmaster Chain Gun
> Headquartered in: Falls Church, VA
3. Boeing
> Arms sales in 2021: $33.4 billion (approx. 54% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -2.1%
> Notable weapon(s) system(s) or service(s): B-52 Bomber, F/A-18 Super Hornet, AH-64 Apache Helicopter, V-22 Osprey
> Headquartered in: Arlington, VA
2. Raytheon Technologies
> Arms sales in 2021: $41.9 billion (approx. 65% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): +9.1%
> Notable weapon(s) system(s) or service(s): Javelin Missile, Stinger Missile, Tomahawk Cruise Missile
> Headquartered in: Arlington, VA
1. Lockheed Martin Corp.
> Arms sales in 2021: $60.3 billion (approx. 90% of annual company revenue)
> 1-yr. change in arms sales (inflation adj.): -0.6%
> Notable weapon(s) system(s) or service(s): F-35 Lightning II, F-16 Fighting Falcon, Precision Strike Missile, Black Hawk Helicopter
> Headquartered in: Bethesda, MD
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