According to defense industry analysts, global defense spending exceeded $2.4 trillion in 2024, with the U.S. defense budget reaching $886 billion. This level of government spending has historically provided stable revenue for defense contractors and military technology companies.
Our list includes prime defense contractors like Lockheed Martin and Raytheon Technologies, specialized suppliers such as L3Harris and Northrop Grumman, plus companies developing emerging defense technologies.
With various countries increasing defense budgets and ongoing modernization programs according to government reports, defense stocks have historically offered relatively stable returns backed by long-term government contracts.
From aircraft manufacturers to missile defense systems and military technology providers, these companies operate in the defense sector with varying levels of government contract exposure.