For 3rd Year, Lockheed Martin Tops Pentagon’s Defense Contractor List
Lockheed Martin Corp. was the No. 1 defense contractor in 1998 for the third year in a row, the Pentagon said Friday.
The Bethesda, Md.-based company received $12.3 billion in defense contracts during the fiscal year that ended Sept. 30. No. 2 Boeing Co., based in Seattle, received $10.9 billion.
Lockheed Martin became the No. 1 U.S. defense contractor in 1996 after the 1995 merger of Lockheed Corp. and Martin Marietta Corp.
McDonnell Douglas Corp., which merged with Boeing in 1997, had been No. 1.
Other defense contractors in the top 10 for fiscal 1998 were Raytheon Co., at $5.7 billion; General Dynamics Corp., $3.7 billion; Northrop Grumman Corp., $2.7 billion; United Technologies Corp., $2 billion; Textron Inc., $1.8 billion; Litton Industries Inc., $1.6 billion; Newport News Shipbuilding Co., $1.5 billion; and TRW Inc., $1.3 billion.
The Pentagon awarded a total $118.1 billion in contracts during 1998, $1.4 billion more than in the previous fiscal year.
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