FY2026 YTDDOD: $842.3B (+2.4% YoY)HHS: $156.7B (-1.2% YoY)DHS: $68.4B (+5.1% YoY)NASA: $25.8B (+3.7% YoY)DOE: $48.2B (-0.8% YoY)VA: $301.4B (+8.2% YoY)|Active Opportunities: 47,832Expiring 7d: 2,341|Data via USASpending.gov

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Who Are the Top 10 Government Contractors? The Definitive Revenue Rankings (FY2025)

Lockheed Martin leads at $50.5B in federal revenue. Here are the top 10 government contractors by annual federal contract awards with breakdowns by agency, contract type, and small business impact.

Fed-Spend Research Team•February 16, 2026•9 min read

The Top 10 Government Contractors (FY2025)

| Rank | Company | Federal Revenue | Primary Agencies | Key Programs |

|------|---------|----------------|-----------------|-------------|

| 1 | **Lockheed Martin** | $50.5B | DoD, NASA, Intelligence | F-35, Orion, THAAD, GPS III |

| 2 | **RTX (Raytheon)** | $27.8B | DoD, State, DHS | Patriot, Stinger, Pratt & Whitney engines |

| 3 | **General Dynamics** | $24.1B | DoD, Intelligence | Gulfstream (military), IT services, submarines |

| 4 | **Boeing** | $22.3B | DoD, NASA, FAA | KC-46, F/A-18, SLS, ATC systems |

| 5 | **Northrop Grumman** | $21.6B | DoD, Intelligence, NASA | B-21, James Webb, ICBM modernization |

| 6 | **Leidos** | $12.4B | DoD, DHS, Intelligence | IT services, cyber, logistics |

| 7 | **L3Harris** | $11.8B | DoD, Intelligence | ISR, communications, space payloads |

| 8 | **BAE Systems** | $10.2B | DoD, Intelligence | Electronic warfare, ship repair, munitions |

| 9 | **Booz Allen Hamilton** | $9.1B | DoD, DHS, Intelligence | Consulting, cyber, analytics, AI |

| 10 | **Humana** | $8.7B | DoD (TRICARE), HHS | Military healthcare, Medicare Advantage |

Combined, the top 10 hold $198.5 billion in annual federal contracts -- roughly 29% of all federal spending.

What the Top 10 List Reveals

Defense Dominates (But Not Exclusively)

Eight of the top 10 are primarily defense contractors. But Humana (#10) earns its spot through TRICARE military health insurance -- not weapons systems. Booz Allen (#9) is a professional services firm, not a manufacturer.

This means the defense industrial base is concentrated, but non-defense contractors absolutely can reach the top 10 through healthcare, IT, and professional services.

The Subcontracting Ecosystem

Each of these companies is required to subcontract a percentage of work to small businesses. The SBA goal is 23% of all federal prime contract dollars to small business. For the top 10, this means:

**Lockheed Martin** subcontracts $12B+ annually to small businesses

**Boeing** maintains a supplier network of 12,000+ companies

**General Dynamics** works with 5,000+ small business suppliers

**RTX** subcontracts $8B+ to small and diverse businesses

If you are a small business, these prime contractors are not just competitors -- they are potential partners and customers.

Revenue Concentration

| Tier | Companies | Annual Revenue | % of Federal Spending |

|------|-----------|---------------|----------------------|

| Top 5 | Lockheed, RTX, GD, Boeing, Northrop | $146.3B | 21.5% |

| Top 10 | + Leidos, L3Harris, BAE, Booz Allen, Humana | $198.5B | 29.1% |

| Top 25 | + SAIC, KBR, Accenture Fed, Perspecta, etc. | $280B+ | 41% |

| Everyone else | 100,000+ contractors | $401B | 59% |

59% of all federal contract dollars go to companies outside the top 25. The federal market is far less concentrated than most people think.

Top 10 by Contract Type

| Company | % Fixed-Price | % Cost-Plus | % T&M/Other |

|---------|-------------|-------------|-------------|

| Lockheed Martin | 45% | 50% | 5% |

| RTX | 55% | 40% | 5% |

| General Dynamics | 50% | 35% | 15% |

| Boeing | 40% | 55% | 5% |

| Northrop Grumman | 35% | 60% | 5% |

| Leidos | 30% | 25% | 45% |

| L3Harris | 50% | 40% | 10% |

| BAE Systems | 55% | 35% | 10% |

| Booz Allen | 15% | 30% | 55% |

| Humana | 95% | 5% | 0% |

Notice: IT services companies (Leidos, Booz Allen) are heavily T&M, while defense manufacturers are split between FFP and cost-plus. Humana is almost entirely fixed-price (managed care contracts).

FAQ

Who are the top 10 government contractors?

The top 10 by FY2025 federal revenue are: Lockheed Martin ($50.5B), RTX/Raytheon ($27.8B), General Dynamics ($24.1B), Boeing ($22.3B), Northrop Grumman ($21.6B), Leidos ($12.4B), L3Harris ($11.8B), BAE Systems ($10.2B), Booz Allen Hamilton ($9.1B), and Humana ($8.7B). Combined they hold $198.5B in annual federal contracts.

Who has the biggest government contract?

Lockheed Martin holds the largest single federal contract -- the F-35 Lightning II program with a total program value exceeding $400 billion over its lifecycle. The annual F-35 production and sustainment contracts exceed $15 billion. The F-35 is the most expensive weapons program in history.

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