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Lockheed Martin Tops Defense Contract Recipients List in New DOD FY 2020 Defense Spending Report

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The Department of Defense’s Office of Local Defense Community Cooperation released its Fiscal Year 2020 Defense Spending by State report on Friday.

DoD’s report outlines information including categories of contracted goods and services, total spending figures, numbers and types of defense personnel and major defense vendors across each state and helps public and private sector organizations optimize defense investments.

“This report is presented as an opportunity for governors, local officials, and other leaders to understand the businesses/industries and workers presently supporting our nation’s defense, so they may plan and carry out the necessary transformations and support them to remain competitive, be responsive to our future national security needs, and remain resilient to natural and man-made threats,” said Patrick O’Brien, director of the Office of Local Defense Community Cooperation.

The department’s defense spending rose in FY 2020, with contract obligations and payroll spending seeing an 8 percent increase of $43 billion. 

The top ten recipients of defense contracts were:

  • Lockheed Martin: $72.9 billion
  • General Dynamics: $22.8 billion
  • Boeing: $22.4 billion
  • Raytheon: $20.2 billion
  • Northrop Grumman: $14.1 billion
  • L3Harris Technologies: $8.5 billion
  • Huntington Ingalls: $7.9 billion
  • BAE Systems: $7.5 billion
  • United Technologies: $7.2 billion
  • Humana: $6.9 billion

 

L3Harris, Lockheed Martin and Raytheon saw the largest year over year increases with growth of 73 percent, 60 percent and 29 percent, respectively in FY 2020.

Additionally, large contracts to Lockheed Martin in Texas and Maryland as well as to Raytheon in Arizona contributed to each state seeing the largest increases in DoD spending from FY 2019 to FY 2020.