Top 10 Defence Companies: Northrop Grumman #6
At number six on the list of the biggest defence companies is Northrop Grumman.
In 1994 Northrop Aircraft, a US aircraft manufacturer, acquired Grumman Aerospace, which also made military aircraft, to form the defence company we know today. It is the largest naval vessel builder in the work and manufactures all of the US’ aircraft carriers – form the Nimitz to the Gerald Ford class carriers.
The company has four main business sectors: Aerospace Systems, Electronic Systems, Information Systems, and Technical Services.
Its roots go back to 1939 when Jack Northrop incorporated the Northrop Corporation in California and went to build its first aircraft, the N-3PB patrol bomber for the Norwegian Air Force, the following year.
Did you know? Northrop Grumman was the subject of a merger with Lockheed Martin in 1998 but it fell through after being rejected by the U.S. government, who didn’t want to see the defence industry consolidate any further.
Here are some stats and facts based on the most recent financial data:
Arms sales (US$ m.) 21,390
Total sales (US$ m.) 26,412
Total profit (US$ m.) 2,118
Total employed 72,500
Ticker symbol NYSE: NOC
CEO Wes Bush
Based on data from the Stockholm International Peace Research Institute (SIPRI)