The defense and aerospace industry includes over a thousand companies that work togeteher to manufacture defense prodcuts from a range of military aircraft to manufacturing spacecraft. Some of the major companies that are a part of the defense and aerospace industry include Lockheed Martin, Boeing, Northrop Grumman, and many more amongst others. These companies work together to supply for the combined annual revenue of more than 100 billion dollars. In 2009, the public complany, Lockheed Martin ranked as the highest contributor of 42.7 billion dollars. However, the question links back to where all of this money comes from.
The defense and aerospace industry work hand in hand with government by revealing information to public and private companies such as, professionals working in these companies in order to provide research and development. The industry receives their supply from the following sources: defense contractors, the arms industry, and private military contractors who all work for the government to produce these products. An abundant number of these products are purchased by the federal government or by the federal space programs for these military purposes. These companies receive contracts which target the service, development, and manufacturing defense products of military equipment (i.e. aircraft, weaponry, etc.) For example, the Raytheon Co. was awarded a $1.7 billion contract by the Saudi Arabian government in order to enhance their air and missile defense system by providing protection against threats. Raytheon Co. posted revenue of $25 billion. Contracts like these display how companies profit from the risk they are taking. While going through the process of submission, these contracts are reviewed by contract specialists who work under companies, such as Boeing and Lockheed Martin, to either finalize or deny these contracts for the given amount of money. These contracts provide a purpose to try to create revenue for the company which therefore goes to the combined annual revenue of the defense and aerospace industry.
It's interesting to see how the government has such an intricate relation with companies.These contracting companies, such as Lockheed Martin, provides the government with services and in response to fufilling the servcies needed by the government, a profit is made from the revenues. -more jobs are created
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