The Department of Defense spends more on private contractors than any other department in the U.S. government. According to the Government Accountability Office, the Pentagon accounted for nearly 60% of the $694.2 billion in total federal contract obligations in fiscal 2022.
The DOD relies on the private sector for a wide-range of functions, including weapons production and development, consulting, maintenance, and IT infrastructure. This outsourcing helps ensure the military’s access to specialized, state-of-the-art equipment and creates opportunities for uniformed personnel to focus on training and combat preparation. And though contracts account for nearly half of America’s world-leading $877 billion defense budget, many argue that the practice is ultimately the most cost-effective option. (Here is a look at the failed weapons the U.S. wasted the most money on.)
The U.S. military’s reliance on contractors has created a U.S. arms industry that is second-to-none on the global stage. A recent report from the Stockholm International Peace Research Institute found that the world’s 100 largest defense contractors reported combined arms sales and service revenue of $597.2 billion in 2022 — and over half of that money went to American companies.
Using data from SIPRI, 24/7 Wall St. identified the biggest weapons manufacturers in the United States. We ranked each company based on estimated revenue from arms sales and military services in 2022. Only U.S. based companies with more than $1 billion in annual defense contract revenue were considered.
Among the companies on this list, military sales and service revenue in 2022 ranges from $1.04 billion, to nearly $60 billion. 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 supplied the U.S. Air Force and Navy with hundreds of fighter jets and other aircraft, many of which have unit costs of over $100 million. (These are the weapons the U.S. military is spending the most money on.)
Not only do the companies on this list collaborate with the Pentagon on weapons development, but they also often work 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 can source various components — including propulsion, navigation, and weapons systems — from separate manufacturers.
37. The Aerospace Corp.
Source: 2019 Getty Images / Getty Images Entertainment via Getty Images
- Arms revenue in 2022: $1.04 billion
- Total revenue in 2022: $1.19 billion (approx. 87.4% arms sales)
- 1-yr. change in arms revenue: -6.6%
- Notable weapons system or service: Project Thor space-based weapons defense
36. Mitre Corp.
Source: Stocktrek Images / Stocktrek Images via Getty Images
- Arms revenue in 2022: $1.06 billion
- Total revenue in 2022: $2.20 billion (approx. 48.2% arms sales)
- 1-yr. change in arms revenue: +1.1%
- Notable weapons system or service: Research and development for the USAF
35. United Launch Alliance*
Source: 2022 NASA / Getty Images News via Getty Images
- Arms revenue in 2022: $1.07 billion
- Total revenue in 2022: $1.16 billion (approx. 92.4% arms sales)
- 1-yr. change in arms revenue: +57.2%
- Notable weapons system or service: Atlas V and Delta IV space rocket missions
- Note*: The arms revenue figure for this company is an estimate with a high degree of uncertainty.
34. Amphenol Corp.
Source: Liilia Moroz / Wikimedia Commons
- Arms revenue in 2022: $1.14 billion
- Total revenue in 2022: $12.62 billion (approx. 9.0% arms sales)
- 1-yr. change in arms revenue: -12.1%
- Notable weapons system or service: Electronic components for military aircraft, drones, tanks, and ground vehicles
33. Moog
Source: Public Domain / Wikimedia Commons
- Arms revenue in 2022: $1.28 billion
- Total revenue in 2022: $3.04 billion (approx. 42.2% arms sales)
- 1-yr. change in arms revenue: -5.2%
- Notable weapons system or service: Military vehicle components
32. Curtiss-Wright Corp.
Source: Stocktrek Images / Stocktrek Images via Getty Images
- Arms revenue in 2022: $1.39 billion
- Total revenue in 2022: $2.56 billion (approx. 54.4% arms sales)
- 1-yr. change in arms revenue: -6.8%
- Notable weapons system or service: Turret aiming and stabilization tools
31. Eaton
Source: Stocktrek Images / Stocktrek Images via Getty Images
- Arms revenue in 2022: $1.52 billion
- Total revenue in 2022: $20.75 billion (approx. 7.3% arms sales)
- 1-yr. change in arms revenue: -3.6%
- Notable weapons system or service: Vehicle components for M1-A1 Abrahms tanks, Stryker combat vehicles, and Humvees
30. Parsons Corp.
Source: gorodenkoff / iStock via Getty Images
- Arms revenue in 2022: $1.54 billion
- Total revenue in 2022: $4.20 billion (approx. 36.7% arms sales)
- 1-yr. change in arms revenue: -0.3%
- Notable weapons system or service: C2Core command and control aircraft tool suite
29. Sierra Nevada Corp.*
Source: my_public_domain_photos / Flickr
- Arms revenue in 2022: $1.56 billion
- Total revenue in 2022: $1.66 billion (approx. 94.2% arms sales)
- 1-yr. change in arms revenue: -22.4%
- Notable weapons system or service: M-28 Special Operations Multi-Role Aircraft
- Note*: The arms revenue figure for this company is an estimate with a high degree of uncertainty.
28. BWX Technologies
Source: Public Domain / Wikimedia Commons
- Arms revenue in 2022: $1.70 billion
- Total revenue in 2022: $2.23 billion (approx. 76.1% arms sales)
- 1-yr. change in arms revenue: -4.6%
- Notable weapons system or service: Naval nuclear propulsion components
27. Teledyne Technologies
Source: Sundry Photography / iStock Editorial via Getty Images
- Arms revenue in 2022: $2.02 billion
- Total revenue in 2022: $5.46 billion (approx. 37.0% arms sales)
- 1-yr. change in arms revenue: +14.0%
- Notable weapons system or service: Autonomous underwater Slocum G3 Glider
26. Jacobs Engineering Group
Source: enkoff / iStock via Getty Images
- Arms revenue in 2022: $2.09 billion
- Total revenue in 2022: $14.92 billion (approx. 14.0% arms sales)
- 1-yr. change in arms revenue: -5.2%
- Notable weapons system or service: Intelligence training and analysis, mission support services
25. Oshkosh Corp.
Source: Stocktrek Images / Stocktrek Images via Getty Images
- Arms revenue in 2022: $2.14 billion
- Total revenue in 2022: $8.28 billion (approx. 25.8% arms sales)
- 1-yr. change in arms revenue: -21.7%
- Notable weapons system or service: Joint Light Tactical Vehicles
24. General Atomics*
Source: chrishunkeler / Flickr
- Arms revenue in 2022: $2.14 billion
- Total revenue in 2022: $ N/A billion (approx. N/A % arms sales)
- 1-yr. change in arms revenue: -22.9%
- Notable weapons system or service: MQ-9A Reaper drone
- Note*: The arms revenue figure for this company is an estimate with a high degree of uncertainty.
23. ManTech International Corp.
Source: Public Domain / Wikimedia Commons
- Arms revenue in 2022: $2.19 billion
- Total revenue in 2022: $2.69 billion (approx. 81.4% arms sales)
- 1-yr. change in arms revenue: -2.6%
- Notable weapons system or service: Software applications for military platforms and vehicles
22. Parker-Hannifin Corp.*
Source: JHVEPhoto / iStock Editorial via Getty Images
- Arms revenue in 2022: $2.27 billion
- Total revenue in 2022: $19.07 billion (approx. 11.9% arms sales)
- 1-yr. change in arms revenue: -20.3%
- Notable weapons system or service: Aerospace components
- Note*: Parker-Hannifin Corp. acquired Meggit in 2022. Its arms revenue figure for 2021 is the combined 2021 arms revenue of Parker-Hannifin and Meggit
21. TransDigm Group
Source: VanderWolf-Images / iStock via Getty Images
- Arms revenue in 2022: $2.33 billion
- Total revenue in 2022: $5.43 billion (approx. 42.9% arms sales)
- 1-yr. change in arms revenue: -10.2%
- Notable weapons system or service: Military parachutes
20. V2X*
Source: Sean Gallup / Getty Images News via Getty Images
- Arms revenue in 2022: $2.52 billion
- Total revenue in 2022: $2.89 billion (approx. 87.2% arms sales)
- 1-yr. change in arms revenue: +43.1%
- Notable weapons system or service: Logistics support
- Note*: V2X is the result of the merger of Vectrus and Vertex Aerospace Services Holding Corp. in 2022
19. Bechtel Corp.*
Source: David Paul Morris / Getty Images
- Arms revenue in 2022: $2.74 billion
- Total revenue in 2022: $ N/A billion (approx. N/A % arms sales)
- 1-yr. change in arms revenue: +2.7%
- Notable weapons system or service: Ground based nuclear launch infrastructure
- Note*: The arms revenue figure for this company is an estimate with a high degree of uncertainty.
18. Textron
Source: williamhc / iStock Editorial via Getty Images
- Arms revenue in 2022: $2.91 billion
- Total revenue in 2022: $12.87 billion (approx. 22.6% arms sales)
- 1-yr. change in arms revenue: -19.6%
- Notable weapons system or service: Bell V-280 Valor assault aircraft
17. Science Applications International Corp.
Source: WHPics / iStock Editorial via Getty Images
- Arms revenue in 2022: $3.78 billion
- Total revenue in 2022: $7.70 billion (approx. 49.1% arms sales)
- 1-yr. change in arms revenue: -1.5%
- Notable weapons system or service: Counter unmanned aerial systems
16. Sandia National Laboratories
Source: my_public_domain_photos / Flickr
- Arms revenue in 2022: $3.92 billion
- Total revenue in 2022: $4.41 billion (approx. 88.9% arms sales)
- 1-yr. change in arms revenue: -7.0%
- Notable weapons system or service: Nuclear weapons development
15. KBR
Source: 2002 Getty Images / Getty Images News via Getty Images
- Arms revenue in 2022: $4.27 billion
- Total revenue in 2022: $6.56 billion (approx. 65.1% arms sales)
- 1-yr. change in arms revenue: +11.9%
- Notable weapons system or service: Laser weapon systems
14. General Electric
Source: Public Domain / Wikimedia Commons
- Arms revenue in 2022: $4.41 billion
- Total revenue in 2022: $76.56 billion (approx. 5.8% arms sales)
- 1-yr. change in arms revenue: -1.4%
- Notable weapons system or service: Black Hawk and Apache helicopter engines
13. Peraton
Source: cineuno / iStock via Getty Images
- Arms revenue in 2022: $4.41 billion
- Total revenue in 2022: $7.00 billion (approx. 63.0% arms sales)
- 1-yr. change in arms revenue: -15.5%
- Notable weapons system or service: Early-warning and long-range detection systems
12. Honeywell International
Source: Sundry Photography / iStock Editorial via Getty Images
- Arms revenue in 2022: $4.63 billion
- Total revenue in 2022: $35.47 billion (approx. 13.1% arms sales)
- 1-yr. change in arms revenue: -16.8%
- Notable weapons system or service: Operations platforms for military aircraft
11. CACI International
Source: krblokhin / iStock Editorial via Getty Images
- Arms revenue in 2022: $4.82 billion
- Total revenue in 2022: $6.70 billion (approx. 71.9% arms sales)
- 1-yr. change in arms revenue: +3.0%
- Notable weapons system or service: SkyTracker drone technology
10. Booz Allen Hamilton
Source: Public Domain / Wikimedia Commons
- Arms revenue in 2022: $5.90 billion
- Total revenue in 2022: $9.26 billion (approx. 63.7% arms sales)
- 1-yr. change in arms revenue: -2.5%
- Notable weapons system or service: Defense consulting
9. Amentum*
Source: Public Domain / Wikimedia Commons
- Arms revenue in 2022: $6.56 billion
- Total revenue in 2022: $8.75 billion (approx. 75.0% arms sales)
- 1-yr. change in arms revenue: +20.9%
- Notable weapons system or service: Electronic submarine components, rotary wing flight training, aviation command and control support
- Note*: The arms revenue figure for this company is an estimate with a high degree of uncertainty.
8. Leidos
Source: U.S. Navy / Hulton Archive via Getty Images
- Arms revenue in 2022: $8.24 billion
- Total revenue in 2022: $14.29 billion (approx. 57.7% arms sales)
- 1-yr. change in arms revenue: -5.0%
- Notable weapons system or service: GBU-69/B precision guided munitions
7. HII
Source: U.S. Navy / Getty Images
- Arms revenue in 2022: $8.75 billion
- Total revenue in 2022: $10.68 billion (approx. 82.0% arms sales)
- 1-yr. change in arms revenue: -5.5%
- Notable weapons system or service: Gerald R. Ford-Class aircraft carriers
6. L3Harris Technologies
Source: JHVEPhoto / iStock Editorial via Getty Images
- Arms revenue in 2022: $12.63 billion
- Total revenue in 2022: $17.06 billion (approx. 74.0% arms sales)
- 1-yr. change in arms revenue: -12.5%
- Notable weapons system or service: Sky Warden ISR Strike Aircraft
5. General Dynamics Corp.
Source: Photo by General Dynamics / Getty Images
- Arms revenue in 2022: $28.32 billion
- Total revenue in 2022: $39.41 billion (approx. 71.9% arms sales)
- 1-yr. change in arms revenue: -5.6%
- Notable weapons system or service: M1A1 Abrams Main Battle Tank
4. Boeing
Source: Stocktrek Images / Stocktrek Images via Getty Images
- Arms revenue in 2022: $29.30 billion
- Total revenue in 2022: $66.61 billion (approx. 44.0% arms sales)
- 1-yr. change in arms revenue: -18.9%
- Notable weapons system or service: V-22 Osprey aircraft
3. Northrop Grumman Corp.
Source: Tech. Sgt. William OBrien, 94th Airlift Wing photographer, Public domain, via Wikimedia Commons
- Arms revenue in 2022: $32.30 billion
- Total revenue in 2022: $36.60 billion (approx. 88.2% arms sales)
- 1-yr. change in arms revenue: 0.0%
- Notable weapons system or service: B-21 Raider long-range strike fighter
2. Raytheon Technologies*
Source: JHVEPhoto / iStock Editorial via Getty Images
- Arms revenue in 2022: $39.57 billion
- Total revenue in 2022: $67.07 billion (approx. 59.0% arms sales)
- 1-yr. change in arms revenue: -12.5%
- Notable weapons system or service: Javelin Missile
- Note*: Raytheon Technologies was renamed RTX in 2023
1. Lockheed Martin Corp.
Source: Matt Cardy / Getty Images
- Arms revenue in 2022: $59.39 billion
- Total revenue in 2022: $65.98 billion (approx. 90.0% arms sales)
- 1-yr. change in arms revenue: -8.9%
- Notable weapons system or service: F-35 Lightning II multirole combat aircraft
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