The ongoing conflicts in Ukraine and Gaza, coupled with rising tensions in Asia over Taiwan and Korea, are fueling an increase in defense spending. This has resulted in a boost for defense contractors like Lockheed Martin, RTX, and General Dynamics, who have seen a significant rise in their defense contracts.

The following data was sourced from USASpending.gov and compiled and processed by Forecast International. Please note: The awards listed below are from the DoD only; hence, totals will not match federal contract totals, which include awards by other government agencies.

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 had defense contract award obligations of $466.3 billion in FY23, up 10 percent from $424.1 billion in FY22. The top 100 FY23 contractors accounted for $290.0 billion (62 percent) of the obligated dollars, compared to $274.0 billion (65 percent) in FY22.

In FY23, the DoD’s share of available funding was $1.52 trillion, or 12.8 percent of the FY23 U.S. federal budget. This is a decrease of 7.3 percent compared to the DoD’s share of the U.S. federal budget for FY22 of $1.64 trillion, or 14.3 percent.

Also included in this report is a listing of the top programs for FY24-FY28 as excerpted from Forecast International’s U.S. Defense Budget Forecast.