An RAF Lockheed Martin F-35B fighter jet taxis along a runway after landing at the Royal International Air Tattoo at Fairford, Britain July 8, 2016. Peter Nicholls/Reuters
Reuters: Lockheed Martin Profits More From War Than Any Other Company on Earth
With such horrifying images from Ukraine, it is hard to imagine any winners, but there are those who profit from the war, specifically military contractors. U.S. military aid for Ukraine and nearby countries has reached $3.75 billion. Almost all U.S. weapons sent to Ukraine are from our stockpiles and will have to be replaced. This means a huge check to companies making military hardware and software. Lockheed Martin Corp is the largest U.S. defense contractor and the domestic company that profits the most from war.
The financial opportunity for Lockheed Martin and other large contractors is vast. America’s defense budget will be over $800 billion this year. (Here’s how Ukraine’s newly bolstered tank army compares to Russia’s.)
Lockheed Martin employs 116,000 people. The company reported a total of $66 billion in revenue in 2022 and a profit of $5.7 billion. It has a backlog of orders that stands at $150 billion. Last year, it was No. 55 on the Fortune 500.
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WNU Editor: Here is an easy prediction. 2023 will be a very profitable year for Lockheed.