The U.S. department of defense just proposed its 2024 budget, asking for an astounding $842 billion from congress. That figure is larger than the entire economy of 90% of the countries on Earth. (also see the 35 billion-dollar weapons in the U.S. Military budget this year) While American defense spending includes benefits for military personnel as well as pay, the majority of the spending goes to the corporations with weapons contracts with the U.S. government.
The DOD uses on contractors for everything from maintenance to construction of bases, as well as developing and manufacturing weapons. Hundreds of billions of dollars flow to the private sector from the Pentagon each year, making the U.S. defense industry by far the largest of any country in the world. In fact, of the 100 largest weapons manufacturers in the world, a staggering 40 are 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. (these are the U.S. Air Force’s favorite planes.)
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 the U.S. military’s 15 weapons of the future)
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.
Click here to see the largest American weapons manufacturers.
Source: Courtesy of The Aerospace Corporation via Facebook
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
[in-text-ad]
Source: Courtesy of Ball Corporation via Facebook
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
24/7 Wall St.
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
Source: Public Domain / Wikimedia Commons
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
[in-text-ad-2]
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
Source: Public Domain / Wikimedia Commons
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
[in-text-ad]
Source: Public Domain / Wikimedia Commons
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
Source: VanderWolf-Images / iStock Editorial via Getty Images
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
Source: Stephen Morton / Getty Images News via Getty Images
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
[in-text-ad-2]
Source: Public Domain / Wikimedia Commons
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
Source: Sundry Photography / iStock Editorial via Getty Images
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
[in-text-ad]
Source: usnavy / Flickr
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
24/7 Wall St.
Source: my_public_domain_photos / Flickr
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
Source: Courtesy of Jacobs Engineering Group Inc. via Facebook
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
[in-text-ad-2]
Source: Courtesy of ManTech via Facebook
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
Source: VanderWolf-Images / iStock via Getty Images
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
[in-text-ad]
Source: Public Domain / Wikimedia Commons
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
24/7 Wall St.
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
Source: Public Domain / Wikimedia Commons
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
[in-text-ad-2]
Source: williamhc / iStock Editorial via Getty Images
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
[in-text-ad]
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
Source: MMADIA / iStock Editorial via Getty Images
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
Source: krblokhin / iStock Editorial via Getty Images
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
[in-text-ad-2]
Source: Courtesy of Amentum via Facebook
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
Source: Public Domain / Wikimedia Commons
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
[in-text-ad]
Source: Courtesy of Booz Allen Hamilton via Facebook
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
Source: Courtesy of Peraton via Facebook
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
Source: Jarek Tuszyński / Wikimedia Commons
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
[in-text-ad-2]
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
Source: Courtesy of L3Harris Technologies via Facebook
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
[in-text-ad]
Source: Stocktrek Images / Stocktrek Images via Getty Images
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
Source: telegraham / E+ via Getty Images
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
Source: Stocktrek Images / Stocktrek Images via Getty Images
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
[in-text-ad-2]
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
Source: my_public_domain_photos / Flickr
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
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
