undamentalytics Newsletter

Aerospace & Defense stocks

69 US-listed companies in aerospace & defense, with $528.7bn of combined revenue in their latest fiscal years. Boeing is the largest ($89.5bn). The fastest grower with at least $100m of revenue in both years is Rocket Lab Corp, up 38.0%. The median company grew 11.2% with a net margin of 5.7%.

Companies69
Combined revenue$528.7bn
Median revenue growth11.2%
Median net margin5.7%
Median return on equity11.0%
#CompanyRevenueGrowthNet marginROEFiscal year
1 BoeingBA $89.5bn 34.5% 2.5% — 2025
2 RTX CorporationRTX $88.6bn 9.7% 7.6% 10.7% 2025
3 Lockheed MartinLMT $75.0bn 5.6% 6.7% 76.9% 2025
4 General DynamicsGD $52.5bn 10.1% 8.0% 17.7% 2025
5 GE AerospaceGE $45.9bn 18.5% 19.0% 45.8% 2025
6 Northrop GrummanNOC $42.0bn 2.2% 10.0% 26.2% 2025
7 Space Exploration Technologies CorpSPCX $18.7bn 33.2% −26.4% −132.8% 2025
8 TextronTXT $14.8bn 8.0% 6.2% 12.2% 2025
9 Huntington Ingalls IndustriesHII $12.5bn 8.2% 4.8% 12.4% 2025
10 TransDigm GroupTDG $8.8bn 11.2% 23.5% — 2025
11 Howmet AerospaceHWM $8.3bn 11.1% 18.3% 30.4% 2025
12 Elbit Systems LTDESLT $7.9bn 16.3% 6.7% 14.4% 2025
13 Embraer S.a.EMBJ $7.6bn 18.5% 4.6% 10.8% 2025
14 Standardaero, Inc.SARO $6.1bn 15.8% 4.6% 11.0% 2025
15 ATI IncATI $4.6bn 5.2% 8.8% 22.1% 2025
16 Heico CorpHEI $4.5bn 16.3% 15.4% 17.4% 2025
17 V2x, Inc.VVX $4.5bn 3.7% 1.7% 7.4% 2025
18 Moog Inc.MOG.A $3.9bn 7.0% 6.1% 12.3% 2025
19 Leonardo DRS, Inc.DRS $3.6bn 12.8% 7.6% 10.5% 2025
20 Woodward, Inc.WWD $3.6bn 7.3% 12.4% 18.6% 2025
21 CAE IncCAE $3.6bn 5.0% 6.4% 6.3% 2026
22 Curtiss Wright CorpCW $3.5bn 12.1% 13.8% 19.4% 2025
23 AAR CorpAIR $3.3bn 19.0% 5.7% 12.9% 2026
24 BWX Technologies, Inc.BWXT $3.2bn 18.3% 10.3% 28.4% 2025
25 Axon EnterpriseAXON $2.8bn 33.5% 4.5% 4.5% 2025
26 Hexcel CorpHXL $1.9bn −0.5% 5.8% 7.9% 2025
27 Kratos Defense & Security Solutions, Inc.KTOS $1.3bn 18.5% 1.6% 1.3% 2025
28 Astronics CorpATRO $862m 8.4% 3.4% 14.8% 2025
29 Ducommun IncDCO $825m 4.9% −4.5% −5.6% 2025
30 Cadre Holdings, Inc.CDRE $610m 7.5% 7.2% 14.0% 2025
31 Rocket Lab CorpRKLB $602m 38.0% −32.9% −18.8% 2025
32 Loar Holdings Inc.LOAR $496m 23.2% 14.5% 6.4% 2025
33 Karman Holdings Inc.KRMN $472m 36.6% 3.7% 6.0% 2025
34 Redwire CorpRDW $335m 10.3% −67.6% −52.0% 2025
35 Planet Labs PBCPL $308m 25.9% −80.2% −78.4% 2026
36 Intuitive Machines, Inc.LUNR $210m −7.9% −39.7% — 2025
37 TAT Technologies LTDTATT $178m 17.0% 9.4% 11.7% 2025
38 Voyager Technologies, Inc.VOYG $166m 15.4% −63.0% −66.8% 2025
39 Firefly Aerospace Inc.FLY $160m 163.0% −186.6% −141.3% 2025
40 Bridger Aerospace Group Holdings, Inc.BAER $123m 24.6% 3.4% — 2025
41 Blacksky Technology Inc.BKSY $107m 4.4% −65.9% −74.4% 2025
42 Capstone Energy Plus, Inc.CEPL $106m 23.9% 2.7% — 2026
43 Airo Group Holdings, Inc.AIRO $91m 4.6% −4.5% −0.6% 2025
44 Sifco Industries IncSIF $85m 6.5% −0.9% −2.2% 2025
45 Innovative Solutions & Support IncIA $84m 78.6% 18.5% 28.1% 2025
46 Park Aerospace CorpPKE $73m 18.2% 15.4% 9.5% 2026
47 Spire Global, Inc.SPIR $72m −35.2% 71.7% 101.4% 2025
48 CPI Aerostructures IncCVU $69m −14.6% −1.2% −3.3% 2025
49 Ehang Holdings LtdEH $58m −8.3% −66.0% −27.1% 2025
50 Joby Aviation, Inc.JOBY $53m 39183.1% −1740.5% −80.1% 2025
51 AIR Industries GroupAIRI $48m −13.0% −2.7% −7.6% 2025
52 Mind Technology, IncMIND $41m −12.6% 1.8% 2.2% 2026
53 Red Cat Holdings, Inc.RCAT $41m 128.3% −177.0% −49.8% 2025
54 Beta Technologies, Inc.BETA $36m 136.0% −2094.2% −66.2% 2025
55 Coda Octopus Group, Inc.CODA $27m 30.7% 15.5% 7.4% 2025
56 XTI Aerospace, Inc.XTIA $22m 602.4% −305.7% — 2025
57 Satellogic Inc.SATL $18m 37.6% −27.0% −127.6% 2025
58 Ageagle Aerial Systems Inc.UAVS $13m −4.3% −41.2% −35.2% 2025
59 Unusual Machines, Inc.UMAC $11m 101.2% −171.4% −20.2% 2025
60 Draganfly Inc.DPRO $6m 15.5% −297.3% −44.7% 2025
61 Defsec Technologies Inc.DFSC $4m 219.7% −194.8% — 2025
62 Sidus Space Inc.SIDU $3m −27.6% −871.0% −79.5% 2025
63 Mobilicom LtdMOB $3m 5.8% −705.4% — 2025
64 Virgin Galactic Holdings, IncSPCE $2m −78.1% −18063.9% −93.6% 2025
65 Momentus Inc.MNTS $1m −47.5% −2744.9% — 2025
66 Parazero Technologies Ltd.PRZO $1m 12.3% −517.1% — 2025
67 Flyte Aviation, Inc.VJET $819,000 95.0% −2098.0% −182.7% 2025
68 Foresight Autonomous Holdings Ltd.FRSX $398,000 −8.7% −3041.0% −196.8% 2025
69 Archer Aviation Inc.ACHR $300,000 — −206066.7% −41.8% 2025

Medians cover companies with at least $100m of revenue (growth: in both years). Growth is the latest fiscal year against the year before and includes acquisitions.

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Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.