Reality Check on Aerospace Spending

Lockheed Martin got $35.2 billion from taxpayers last year. That's more than many federal agencies., Washington Post

"Of Lockheed Martin's $51 billion in sales last year, nearly 70 percent, or $35.2 billion, came from sales to the U.S. government. It's a colossal figure, hard to comprehend. So think of it this way: Lockheed's government sales are nearly what the Trump administration proposed for the State Department next year in its recently released spending plan. Or $15 billion more than all of NASA. Or about the gross domestic product of Bolivia. With a White House proposal to spend a massive amount on defense next year in what one consultant called an "eye-watering" budget for the defense industry, Lockheed, the world's largest defense contractor, could get even more. ... Boeing is in second place with annual sales of $26.5 billion in 2016, a year in which the top five defense contractors -- including General Dynamics, Raytheon and Northrop Grumman -- had total sales of nearly $110 billion to the U.S. government, according to federal procurement data. The five biggest defense contractors took in more money from the U.S. government than the next 30 companies combined."

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This page contains a single entry by Keith Cowing published on February 20, 2018 7:49 PM.

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