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 recordbreaking 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 (just south of the top 100 at $657 million), Palantir (the same at $541 million), and SpaceX (up from 53 to 21) 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.