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Top 100 Aerospace Companies (2025)
Dipesh Dhital
January 15, 2025
The global aerospace & defense industry stands at a pivotal moment in 2025, with the global market projected to surpass a record revenue of over $900 billion. Following a strong recovery in commercial aviation and increased defense spending worldwide, the sector is experiencing unprecedented growth.
Major players like Boeing, RTX, Lockheed Martin, and Airbus continue to dominate while facing new competition from emerging markets and manufacturers.
Aerospace & Defense is also being reshaped by artificial intelligence (AI), advanced air mobility (AAM), and sustainable aviation technologies as companies adapt to meet evolving customer demands and market forces in 2025.
This list of 100 top aerospace and defense companies is based on my market outlook for 2025 and the latest revenue numbers (2024).
Let's get started.
1. Boeing
The Boeing Company is still the world's largest aerospace corporation and a leading manufacturer of commercial aircraft, defense systems, and space technology.
Founded on July 15, 1916, by William Boeing in Seattle, Washington, the company has grown to become America's largest exporter by dollar value.
Headquarters: Crystal City, Virginia, United States
Website: boeing.com
Key Segments
Commercial Airplanes (BCA): Commercial jetliners, including 737, 777, and 787 families
Defense, Space & Security (BDS): Military aircraft, satellites, and defense systems
Global Services (BGS): Maintenance, repair, training, and supply chain solutions
Boeing Capital Corporation: Financing services
Boeing Outlook for 2025
The company faces a pivotal year of transformation and recovery in 2025. Under new CEO Kelly Ortberg's leadership, Boeing is implementing comprehensive safety and quality improvements following the January 2024 Alaska Airlines incident.
Production of the 737 MAX is expected to gradually increase to 38 aircraft per month by May 2025, though under strict FAA oversight.
Despite these challenges, Boeing maintains a substantial order backlog worth over half a trillion dollars, providing a strong foundation for future growth.
2. RTX Corporation
RTX Corporation was formed through the merger of Raytheon Company and United Technologies Corporation (UTC).
The company pushes the boundaries of technology and science across aviation, defense systems, and next-generation manufacturing.
Headquarters: Arlington, Virginia, United States
Website: rtx.com
Key Segments
Collins Aerospace (aviation technology and communications)
Pratt & Whitney (aircraft engines)
Raytheon (defense systems and missiles)
RTX Outlook for 2025
RTX enters 2025 with strong momentum, supported by a record $221 billion project backlog.
RTX recently secured significant contracts, including a $946 million Patriot defense system deal with Romania in January 2025.
RTX's strategic focus on commercial aerospace recovery, defense modernization, and next-generation technology positions it well for continued expansion.
3. Lockheed Martin
Founded in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company has established itself as a cornerstone of global defense and space technology innovation.
Headquarters: Bethesda, Maryland, United States
Website: lockheedmartin.com,
Key Segments
Aeronautics (F-35, F-22, C-130)
Missiles and Fire Control
Rotary and Mission Systems
Space Systems
Lockheed Martin Outlook for 2025
The company projects strong growth for 2025.
Key developments include the planned launch of their first Next-Gen OPIR missile warning satellite and the innovative TacSat demonstration featuring 5G.MIL® payload.
The company continues to expand its portfolio with strategic investments in nuclear propulsion technologies and advanced space capabilities.
4. Airbus
Airbus is Europe's largest aerospace corporation and a global leader in commercial aircraft manufacturing, defense systems, and space technology.
The company has maintained its position as the world's leading commercial aircraft manufacturer since 2019, outpacing its main rival, Boeing, in deliveries and orders.
Headquarters: Blagnac (Toulouse), France
Website: airbus.com
Key Segments
Airbus Outlook for 2025
The company delivered 766 commercial aircraft in 2024 and projects approximately 820-830 deliveries for 2025.
Airbus continues to dominate the single-aisle market with the A321neo and game-changing A321XLR, while the A350 program gains momentum with significant widebody orders.
However, the company faces strategic challenges in its Defense and Space division, announcing workforce reductions of 2,500 positions by mid-2026 due to market pressures.
5. AVIC (Aviation Industry Corporation of China)
AVIC is China's largest state-owned aerospace and defense conglomerate, responsible for producing essentially all of China's domestic military aircraft, UAVs, and helicopters.
Founded in 1951, AVIC has grown into one of the world's largest aviation enterprises, with operations spanning commercial aircraft, defense systems, and space technology.
Headquarters: Beijing, China
Website: avic.com
Key Segments
Military Aircraft (fighters, bombers, transport aircraft)
Commercial Aviation (passenger aircraft, components)
Helicopters (civil and military rotorcraft)
Unmanned Systems (military and civilian drones)
Space Systems (satellites, spacecraft)
AVIC Outlook for 2025
The company is growing its position as one of the world's largest aerospace and defense companies by revenue.
AVIC is expanding its commercial presence with new products like the AG50 light sport aircraft, which received CAAC certification in December 2024, and the SS-UAV cargo drone unveiled at Airshow China 2024.
However, the company faces increased international scrutiny, with recent U.S. sanctions and its designation as a Chinese military company by the Department of Defense in January 2025.
6. General Dynamics
General Dynamics specializes in business aviation, combat vehicles, weapons systems, shipbuilding, and information technology solutions.
Founded in 1952, the company has established itself as a cornerstone of the U.S. defense industrial base.
Headquarters: Reston, Virginia, United States
Website: gd.com
Key Segments
Aerospace (Gulfstream business jets)
Marine Systems (nuclear submarines, surface combatants)
Combat Systems (military vehicles, weapons systems)
Technologies (IT solutions, mission systems)
General Dynamics Outlook for 2025
The company projects strong growth supported by a robust $92.6 billion defense order backlog.
The company is expanding operations with a new 480,000-square-foot warehouse in North Stonington to support submarine production.
Recent leadership changes, including the appointment of Kimberly A. Kuryea as CFO and new presidents for key divisions, signal strategic restructuring for future growth.
7. Northrop Grumman
Northrop Grumman Corporation has expertise spanning from undersea to outer space and cyberspace.
With 95,000 employees and annual revenue exceeding $39 billion, it stands as one of the world's largest weapons manufacturers and military technology providers.
Headquarters: Falls Church, Virginia, United States
Website: northropgrumman.com
Key Segments
Aeronautics Systems (autonomous systems, manned aircraft)
Defense Systems (missile systems, mission readiness)
Mission Systems (airborne sensors, maritime systems)
Space Systems (space vehicles, launch systems, strategic missiles)
Northrop Grumman Outlook for 2025
The company enters 2025 with significant momentum across multiple programs. The Space Systems segment is expected to have a temporary decline in 2025 before returning to growth in 2026, following the loss of certain classified programs.
The company recently achieved a milestone with its Modified Ballistic Re-Entry Vehicle-11 (MBRV-11) program, moving from contract to Critical Design Review in under 16 months.
Northrop's Protected Tactical SATCOM Rapid Prototype payload has begun space vehicle integration, while the company continues to expand its missile defense capabilities with the successful launch of the Black Dagger target vehicle.
8. Honeywell
Honeywell is a global technology and industrial leader focused on three powerful megatrends: automation, the future of aviation, and energy transition.
The company's aerospace division, Honeywell Aerospace Technologies, provides products and services found on virtually every commercial, defense, and space aircraft worldwide.
Headquarters: Charlotte, North Carolina, United States
Website: honeywell.com
Key Segments
Aerospace Technologies (aircraft engines, avionics, connectivity)
Industrial Automation (process controls, sensors, safety systems)
Building Automation (building management systems)
Energy and Sustainability Solutions (sustainable technology)
Honeywell Outlook for 2025
The company is experiencing strong momentum in its aerospace segment, with new strategic partnerships and innovations driving growth.
A recent collaboration with NXP Semiconductors will accelerate aviation product development and autonomous flight capabilities through the Honeywell Anthem cockpit system.
The company is also considering a potential separation of its aerospace business to enhance shareholder value.
Major investments in AI capabilities and sustainability initiatives, including the planned spin-off of its Advanced Materials business by late 2025, position Honeywell for continued growth in its core aerospace markets.
9. GE Aerospace
GE Aerospace emerged as an independent, investment-grade public company in April 2024 following the spin-off of GE Vernova.
As a global leader in propulsion, services, and systems, the company possesses the industry's largest commercial propulsion fleet and serves as a premier provider of rotorcraft and combat engines.
Headquarters: Cincinnati, Ohio, United States
Website: geaerospace.com
Key Segments
Commercial Engines & Services (LEAP, GEnx, GE9X engines)
Defense & Systems
Propulsion & Additive Technologies
Services Technology
GE Aerospace Outlook for 2025
The company projects strong growth, with operating profit expected to reach $7.1-7.5 billion in 2025, supported by low double-digit revenue growth.
Commercial engine services are forecasted to increase by low double-digits, driven by significant shop visit demand and LEAP services expansion. The company's LEAP engine production will increase by 15-20% in 2025, with the program expected to achieve breakeven.
A major focus includes the Revolutionary Innovation for Sustainable Engines (RISE) program, with plans to begin open-fan engine integration modeling in 2025.
The company recently announced a $9 million R&D investment in Ohio facilities and plans to create 200 new engineering jobs by 2028.
10. Safran
Safran is a global high-technology leader in aerospace propulsion, equipment, defense, and space markets.
The company, formed in 2005 through the merger of Snecma and Sagem, has established itself as a strategic player, with the French government maintaining an 11% stake.
Headquarters: Paris, France
Website: safran-group.com
Key Segments
Aircraft and Space Propulsion (engines, propulsion systems)
Aerospace Equipment and Defense (landing gear, avionics, optronics)
Aircraft Interiors (cabin systems, seats)
Defense and Space Systems (navigation, optronics, drones)
Safran Outlook for 2025
The company projects 10% revenue growth for 2025, with recurring operating income between €4.7-4.8 billion.
A major focus includes a €1 billion investment in expanding its global LEAP engine MRO network, with new facilities in Hyderabad, India, and expansions in France. The company expects LEAP engine deliveries to increase by 15-20% compared to 2024.
However, supply chain challenges are expected to persist, with the company taking a cautious approach to growth forecasts through 2028.
11. BAE Systems
BAE Systems is the UK's largest defense contractor and a global leader in aerospace, defense, and security solutions.
The company employs approximately 100,000 skilled professionals across 40 countries, making it one of the world's largest defense companies by revenue and market capitalization.
Headquarters: London, United Kingdom
Website: baesystems.com
Key Segments
Electronic Systems (flight controls, electronic warfare)
Air (military aircraft, training)
Maritime (naval vessels, submarines)
Land & Weapons (combat vehicles, ammunition)
Cyber & Intelligence (security solutions)
BAE Systems Outlook for 2025
The company is expecting strong growth in 2025. It announced a record £1 billion skills investment which includes recruiting over 2,400 new apprentices, graduates, and undergraduates across the UK.
Major programs include the Global Combat Air Programme, SSN-AUKUS submarines, and a $347 million NERVE contract from NGA.
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