Lockheed Tops List of Pentagon Contractors

Lockheed Martin Corp. was the leading U.S. defense contractor in fiscal 1996, with $12 billion in prime military contract awards, the Defense Department said. Trailing Lockheed, which led for the second consecutive year, were McDonnell Douglas Corp. ($3.2 billion), General Motors Corp. ($3.2 billion), Raytheon Co., ($3 billion) and General Dynamics Corp. ($2.7 billion). The merger of Lockheed and Martin Marietta in 1995 formed by far the nation’s biggest Pentagon contractor, but the proposed merger of McDonnell and Boeing poses a challenge to Lockheed’s standing. Lockheed, which garnered $10.5 billion in contract awards in fiscal 1995, builds a wide range of items for the military, from F-16 fighters to missiles, helicopters and electronics and communications equipment. Rounding out the top 10 firms in 1996 were Northrop Grumman Corp. and United Technologies Corp. ($2.6 billion each); Boeing Co. and Litton Industries Inc. ($1.7 billion each); and General Electric Co. ($1.5 billion).