Martin Placek
Research expert covering transportation and electronics
General Dynamics - statistics & facts
General Dynamics is an American aerospace and defense company headquartered in Reston, Virginia. Its history can be traced back to 1899, when Isaac Rice acquired the Holland Torpedo Boat company from John Phillip Holland and renamed it to Electric Boat Company. The General Dynamics company was officially formed in the early 1950s as the result of the consolidation of submarine manufacturer Electric Boat Company and aircraft manufacturer Canadair. After many acquisitions and portfolio changes, the company has become one of the leading armament manufacturers worldwide.
Increasing revenues amid growing global defense spending
The revenue of General Dynamics increased steadily through the 2000s, during the U.S. invasions in Afghanistan and Iraq. After the U.S. scaled down its activity in the two countries during the 2010s, General Dynamics' revenue flattened. However, the company's revenue increased again from 2017 to 2019, and again from 2022. This must be seen in relation with a pattern of growing global defense spending amid rising tensions in the South China Sea and Russia's invasion of Ukraine in 2022.General Dynamics' most important business lines
The business groups of General Dynamics can be divided into aircraft, combat systems, as well as marine systems and information and technology systems, with the latter one generating the highest revenues. The company manufactures nearly every type of military equipment involved in modern combat, with the major products being information technology and nuclear-powered submarines. The main competitors of General Dynamics are Lockheed Martin, Boeing, RTX, BAE Systems, and Northrop Grumman.
