The largest market in the United States, and, for that matter, the world, is Defense. Turn on the evening news, check your favorite podcast, or go old school and read the newspaper, and you can see the amount of money that is spent on defense, both here and abroad. The United States fiscal budget for 2024, from the Biden Administration, is $842 billion. This number includes all branches of the military and our support of NATO. Of the annual budget for NATO, the United States is the largest contributor worldwide, accounting for 40.6% of all the funding.
A major portion of those expenditures are with publicly traded companies here in the U.S. Below is a listing of some of the bigger companies and their gross defense revenues from 2022.
- Lockheed Martin $63.3 billion
- RTX Corporation (Raytheon) $39.6 billion
- Northrup Grumman $32.4 billion
- Boeing $30.8 billion
- General Dynamics $30.4 billion
- BAE Systems $25.2 billion
- L3 Harris $13.9 billion
In order to meet this demand, Wolkerstorfer Company made a conscious decision 35 years ago to pivot from the industrial markets it was serving and focus on the aerospace and defense industries. To work in these markets, we have been required to be ITAR (International Traffic in Arms Regulations) registered as well as carry Nadcap (National Aerospace and Defense Contractors Accreditation Program) certifications for our processes. We are proud members of “Women in Defense”. We are privileged to work with the companies listed above, as well as Rolls Royce, Bell Textron, Honeywell, and United Launch Alliance, to name a few.
There are several reasons defense and aerospace companies chose to work with us. Our ability to support them vertically by offering nondestructive testing, plating, and painting in one facility eliminates excessive transportation costs and the potential for damage to their components. We also have some of the largest processing equipment in the Midwest. Find more details about our capabilities on our facilities page.
If you are working in defense or related markets, please let us know how we can help you succeed in meeting your growing needs.
The “Wolkerstorfer Way” – Exceptional quality with responsive lead times.
