Pentagon’s Big Five Took $771 Billion in Contracts From 2020–2024
WASHINGTON — From fiscal year 2020 through 2024, the Pentagon awarded an extraordinary $771 billion in contracts to just five companies: Lockheed Martin, RTX (formerly Raytheon), Boeing, General Dynamics, and Northrop Grumman. Data compiled from federal contracting records and independent analysis shows these firms accounted for roughly one-third of all Department of Defense contract obligations during the period — a concentration that raises questions about competition, cost control, and strategic dependence.
Lockheed Martin topped the list, securing $313 billion in awards — much of it tied to the F-35 Joint Strike Fighter, missile defense systems, and classified programs. RTX, emerging from the Raytheon–United Technologies merger, claimed $145 billion, driven by missile systems, radar technology, and jet engines. Boeing took $115 billion, largely from aircraft programs like the KC-46 tanker and P-8 Poseidon. General Dynamics captured $116 billion, bolstered by submarine construction, armored vehicles, and IT contracts. Northrop Grumman rounded out the top five with $81 billion, propelled by the B-21 Raider stealth bomber and space systems work.
Supporters of this concentration argue that the scale, complexity, and security requirements of modern military systems limit the number of qualified prime contractors. Critics counter that the reliance on a handful of firms reduces competition, increases the risk of program delays, and entrenches industry influence over policy. As the Pentagon shifts its focus toward high-tech systems and great-power competition, the “Big Five” are poised to maintain — and possibly grow — their share of defense dollars in the years ahead.
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