Special Report

Lockheed Martin Profits More From War Than Any Other Company on Earth

Douglas A. McIntyre

Published: March 2, 2023 4:12 pm

With such horrifying images from Ukraine, it is hard to imagine any winners, but there are those who profit from the war, specifically military contractors. U.S. military aid for Ukraine and nearby countries has reached $3.75 billion. Almost all U.S. weapons sent to Ukraine are from our stockpiles and will have to be replaced. This means a huge check to companies making military hardware and software. Lockheed Martin Corp is the largest U.S. defense contractor and the domestic company that profits the most from war. 

The financial opportunity for Lockheed Martin and other large contractors is vast. America’s defense budget will be over $800 billion this year. (Here’s how Ukraine’s newly bolstered tank army compares to Russia’s.) 

Lockheed Martin employs 116,000 people. The company reported a total of $66 billion in revenue in 2022 and a profit of $5.7 billion. It has a backlog of orders that stands at $150 billion. Last year, it was No. 55 on the Fortune 500.

Based on data from the Stockholm International Peace Research Institute, Lockheed Martin’s arms sales totaled $60.3 billion in 2021, or approximately 90% of the company’s annual revenue. The arms sales figure, however, was 0.6% lower than the year before. (Also see, the largest Russian weapons manufacturers.)

Lockheed Martin makes a wide array of products. It helps build a number of military aircraft, including the fifth generation F-35 fighter jet, which is estimated to cost about $80 million apiece. The company also has a division that focuses on missiles and rockets. It also makes radar products and cybersecurity programs. 

See 24/7 Wall St.’s list of companies profiting the most from war.