General Dynamics

General Dynamics (NYSE:GD) is ranked the sixth-largest defense contractor in the world by sales revenue, as of 2022, and stands as the fifth largest in the US based on total sales. The company generated a revenue of USD 42.3 billion in 2023. With its origins dating back to 1899 as Electric Boat, a submarine manufacturer, the company underwent a significant merger with Canadair, an aircraft manufacturer, in 1952, leading to the establishment of General Dynamics. The company went public through an initial public offering in 1978 and has consistently been included in the Fortune 500 list since its inception in 1955.

General Dynamics operates through four operating segments: Technologies, Marine Systems, Aerospace, and Combat Systems. The Technologies segment provides IT solutions, including cybersecurity services, to government and commercial clients. The Marine Systems division is known for its expertise in designing and building submarines and surface ships for naval use. The Aerospace division specializes in manufacturing high-end business jets under the Gulfstream brand. Moreover, the Combat Systems division serves armed forces worldwide with military ground vehicles, munitions, and advanced technologies.

The US emerged as General Dynamics' primary market, making up 85% of revenue in 2023, while Europe represented 7%. Looking ahead to 2024, General Dynamics foresees higher deliveries and enhanced operating margins in the Aerospace segment and is aiming for a significant 39.2% YoY revenue growth. The company anticipates revenue growth and improved margins across all its business groups in the coming year. Additionally, the company has set a target to reduce its greenhouse gas (GHG) emissions by 40% by the year 2034.