The Briefing Room

General Category => Economy/Business => Topic started by: Elderberry on February 03, 2021, 10:29:25 pm

Title: Lockheed overtakes Boeing as largest US aerospace and defense firm
Post by: Elderberry on February 03, 2021, 10:29:25 pm

American Military News by Marcus Weisgerber - Defense One   February 03, 2021

Boeing ceded its long-held top spot as America’s largest aerospace and defense firms to Lockheed Martin after reporting financial results from an abysmal 2020 on Wednesday.

The Chicago-based company also said it would lose another $275 million building Air Force KC-46 tankers because of “program primarily due to production inefficiencies including impacts of COVID-19 disruption.” The company has lost more than $4 billion on the project.

The company closed 2020 — a year that saw the collapse of passenger air travel from the coronavirus pandemic and the return to flight of the 737 Max airliner — with just under $58.2 billion in revenue, down 24 percent from the previous year.

More: https://americanmilitarynews.com/2021/02/lockheed-overtakes-boeing-as-largest-us-aerospace-and-defense-firm/ (https://americanmilitarynews.com/2021/02/lockheed-overtakes-boeing-as-largest-us-aerospace-and-defense-firm/)