**Best positioned to benefit**
Ranked by exposure to the two strongest money laws, program position, and—where known—actual awards or obligations. “Positioned” is not the same as revenue booked
.
**All**
**Defense**
**Border**
**Energy**
**01**
**Lockheed Martin**
F-35 funding is explicit—$8.5B for 69 aircraft—alongside PAC-3 MSE, THAAD, Next Generation Interceptor and a Golden Dome prototype slot. About 72% of 2025 revenue came from the U.S. government.
**PROGRAM FUNDED**
**P.L. 119-21 / 75**
**02**
**RTX**
AMRAAM, SM-6, Tomahawk and LTAMDS align RTX with the $25B munitions surge; Raytheon also sits in the Golden Dome interceptor prototype pool.
**POSITIONED**
**MUNITIONS**
**03**
**General Dynamics**
Electric Boat shares the $4.6B second FY2027 Virginia-class submarine line with HII-Newport News. Mission Systems won a Golden Dome prototype OTA; ordnance is positioned for munitions.
**DIRECT PROGRAM HOOK**
**SHIPS + MISSILES**
**04**
**Northrop Grumman**
B-21, Sentinel ICBM and Next Generation Interceptor align with the $15B nuclear-deterrence and $25B Golden Dome titles. It is also an interceptor prototype winner.
**POSITIONED**
**DETERRENCE**
**05**
**Huntington Ingalls**
The purest public shipbuilding exposure: two DDG-51s funded at $5.4B with Bath Iron Works, Virginia-class work with General Dynamics, and access to the $36.9B FY2026 Navy ship account.
**PROGRAM FUNDED**
**SHIPBUILDING**
**06**
**Boeing**
F-15EX, KC-46, T-7A and MQ-25 make Boeing a broad incumbent beneficiary, with additional ordnance and services exposure.
**POSITIONED**
**AIR SYSTEMS**
**07**
**L3Harris**
Shares a $1.75B Space Development Agency order for 36 missile-tracking satellites with Sierra Space, feeding the Golden Dome sensor layer.
**AWARDED**
**$1.75B SHARED**
**08**
**SpaceX**
One of 12 Golden Dome space-interceptor prototype winners, with launch and Starshield positioning. Production awards remain ahead, not guaranteed.
**PROTOTYPE**
**GOLDEN DOME**
**09**
**GEO Group / CoreCivic**
The clearest obligated-dollar border winners: 2025 ICE obligations of $2.1B to GEO and $653.5M to CoreCivic; DHS also acquired four CoreCivic facilities for $2.2B.
**OBLIGATED / FLOWING**
**DETENTION**
**10**
**CSI / Classic Air / MVM**
2025 ICE obligations reached $1.1B for CSI Aviation, $800.2M for Classic Air Charter and $1.1B for MVM, tying the group to deportation and transport spending.
**OBLIGATED**
**TRANSPORT**
**11**
**Bechtel / Honeywell / BWXT**
DOE/NNSA weapons activities—roughly $20B in FY2026 appropriations—and the $15B nuclear-deterrence title flow through management, operations and naval-reactor contracts.
**POSITIONED**
**NNSA**
**12**
**Palantir**
A roughly $30M no-bid ImmigrationOS award plus Army data and AI work gives Palantir smaller absolute dollars but greater growth leverage on the $16B innovation title.
**AWARDED**
**AI / DATA**
**READ THE RANK CORRECTLY**
Private contractors captured about 54% of DoD discretionary spending from 2020–2024—roughly $2.4T. The top five primes took $771B; Lockheed alone took $313B in constant FY2025 dollars. That installed base is why incumbents dominate this forward-looking ranking. [Source](https://aoav.org.uk/2025/war-as-business-the-real-winners-of-americas-endless-conflict/)
