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But, so far, those concerns appear to be overblown. New administration, new prioritiesĭefense stocks performed weakly in 2020 as investors grew increasingly convinced that the White House would change hands. It’s where a lot of the internal investment is going right now.ĭefense IT also remains a priority, with vendors scrambling to provide secure networks and data-rich communications systems to the Pentagon. Defense electronics and electronic warfare is a growing piece of almost every company’s portfolio. These were the few companies on Earth capable of building massive battleships, bombers, and tanks.īut in defense, like the rest of the world, the value is increasingly going not to the companies that forge the steel but instead to the ones that provide the brains that go inside it.
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Aerospace & Defense ( BATS:ITA)įor most of its history, the defense industry’s primary expertise was in metal-bending. SPDR S&P Aerospace & Defense ( NYSE:XAR).Invesco Aerospace & Defense ( NYSE:PPA).Three primary ETFs are focused on defense: If you are bullish on defense but would rather not choose among individual companies, you can buy shares in one or more exchange-traded funds (ETFs) that cover the sector.
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It has also actively expanded into hardware, providing the electronics and brains for autonomous ships and building a strong portfolio of classified research capabilities geared for the intelligence and space community. Leidos Holdings is the largest government information technology (IT) company.It is the product of the 2020 merger between Raytheon, a defense electronics and missile specialist, and United Technologies, which makes aircraft engines and a variety of other aerospace parts. Raytheon Technologies doesn't make warships or fighters, but it has a role in a wide range of important military platforms led by other contractors.General Dynamics also has one of the largest defense-focused IT and services businesses, giving it some revenue stability at times when the Pentagon is cutting back on equipment purchases. General Dynamics is one of two primary military shipbuilders and has a portfolio of tanks and land vehicles that make it one of the go-to vendors for the U.S.The company is closely tied to the nuclear triad, which is a combination of nuclear missiles, bombers, and submarines that are able to strike back if the nation is attacked. Northrop Grumman is responsible for stealth bombers and has a large space portfolio.The company's defense business has also branched out into autonomous submarines and other products. Boeing makes several different aircraft and helicopters for the Pentagon and is also involved in space pursuits. Boeing is best known for its commercial airplanes, but its defense business is large enough to rank among the industry’s titans.Lockheed’s legendary "Skunk Works" research facility in California is world-renowned, and the company has leveraged its research muscle to become a leader in advanced fighter planes, high-tech missiles, and cutting-edge electronics.
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It’s the lead contractor on the F-35 Joint Strike Fighter, the world’s most expensive airplane. Lockheed Martin is the world's largest defense pure play.Let's look closer at these standout companies: