The landscape of defense contracting in FY2024 was shaped by a mix of geopolitical urgency, technological evolution, and industrial adaptation. As the Pentagon sharpened its focus on strategic competition with China, sustained military aid to Ukraine, and the modernization of U.S. forces, the defense industry responded with innovation, scaled production, and record-breaking contracts.
At the top of the list, the old guard – Lockheed Martin, RTX, and General Dynamics – retained their dominance, securing deals for fighter jets, missile defense, and warships. Meanwhile, next-generation technology players like Anduril (entering the Top 100 at #74), Palantir (#96), and SpaceX (up from #53 to #28) gained ground, fueled by growing demand for AI-driven warfare, autonomy, and space-based capabilities. However, across the board, companies faced rising production costs due to inflation, labor shortages, and supply chain constraints, forcing the Pentagon to rethink procurement strategies and industrial base resilience.
This list of the Top 100 U.S. Department of Defense prime contractors is ranked by total contract funds awarded.
According to USAspending.gov, the DoD’s share of available funding was $1.99 trillion, or 16.3 percent of the FY24 U.S. federal budget. This is a 30.9 percent increase compared to the DoD’s share of the U.S. federal budget for FY23 of $1.52 trillion, or 12.8 percent.
In FY24, the DoD had defense contract award obligations of $456.2 billion in FY24, down 2.4 percent from $467.5 billion in FY23. The top 100 FY24 contractors accounted for $287 billion (63 percent) of the obligated dollars compared to $290.0 billion (62 percent) in FY23.
Current and historical Top 100 federal lists are irregularly published on the U.S. General Services Administration’s System for Award Management (SAM) Top 100 Contractors Report page.
2024 Compared to 2023
The list of the top 10 Department of Defense contractors with their 2024 rank compared to 2023 is detailed below.
| 2024 Rank |
Prime Contractor |
$ millions |
2023 Rank |
$ millions |
| 1. | LOCKHEED MARTIN CORP | 50,749 | 1 | 68,590 |
| 2. | RTX CORP | 24,817 | 2 | 27,820 |
| 3. | THE BOEING CO | 23,218 | 4 | 21,790 |
| 4. | GENERAL DYNAMICS CORP* | 19,201 | 3 | 22,965 |
| 5. | NORTHROP GRUMMAN CORP | 18,575 | 5 | 15,094 |
| 6. | HUMANA INC | 8,029 | 7 | 7,780 |
| 7. | HUNTINGTON INGALLS INDUSTRIES INC | 8,018 | 6 | 9,130 |
| 8. | L3HARRIS TECHNOLOGIES INC | 7,972 | 9 | 6,373 |
| 9. | AMERISOURCEBERGEN | 6,079 | 11 | 4,392 |
| 10. | ATLANTIC DIVING SUPPLY INC | 4,425 | 10 | 4,424 |
Please visit Forecast International to download the
Top 100 Defense Contractors 2024 and Top FY26 Defense Programs
report by clicking the button below
For 50 years, Forecast International intelligence reports have been the aerospace and defense industry standard for accurate research, analysis, and projections. Our experienced analysts compile, evaluate, and present accurate data for decision makers. FI's market research reports offer concise analysis of individual programs and identify market opportunities. Each report includes a program overview, detailed statistics, recent developments and a competitive analysis, culminating in production forecasts spanning 10 or 15 years. Let our market intelligence reports be a key part of reducing uncertainties and mastering your specific market and its growth potential. Find out more at www.forecastinternational.com
