Aerospace and Defense Contractors

Consolidation of Control of U.S.Defense Contractors

compiled by Rex Frankel, 1/19/2009

One interesting stat: 7 of the top 10 USA defense contractors in 1995 are now owned by the top 3, Lockheed, Northop and Boeing.

http://www.cdi.org/issues/usmi/complex/top15.html list the top 10 in 1998

ACQUISITION HISTORIES:

LOCKHEED MARTIN:

1994-Martin-Marietta

1996 Loral

Defense-contracting divisions of:

1983-Xerox

1987-Goodyear

1987-Gould

1989-Fairchild

1989-Honeywell

1990-Ford

1992-LTV

1992-GE-RCA aerospace divisions

1993-General Dynamics’ Atlas rocket division

1993-IBM

1995-Unisys

NORTHROP GRUMMAN:

Bought During the Bush Years: TRW

1994 Vought Aircraft

1994 Teledyne’s Electronics Systems

1994-Northop bought Grumman

1996 Sperry Marine

1996 Westinghouse defense division

1997 Logicon

2000 Litton

2000 Newport News Shipbuilding

2002 TRW

BOEING:

1960 Vertol helicopters

1984 Hughes Helicopters

1996 McDonnell Douglas

1996 Rockwell Defense and Aerospace (owned North American Aircraft which was originally spun-off by GM in 1948)

1997 Argo Systems

2000 Hughes Space and Communications

http://en.wikipedia.org/wiki/Image:Boeing_History_Timeline.PNG

http://en.wikipedia.org/wiki/Boeing

Boeing once owned United Airlines and United Technologies in the 1930’s

Boeing sold the Rocketdyne rocket engine division to Pratt & Whitney in 2005

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THE SMALLER DEFENSE CONTRACTORS:

RAYTHEON:

Beech Aircraft

1992 General Dynamics’ missile division

1995 Magnavox aerospace division

1996 Chrysler defense division

1997 Hughes Aircraft (from GM)

1997 Texas Instruments missile and defense division

2006 sells Hawker and Beechcraft airplane divisions to Goldman Sachs/Onex Partners for $3.3.bil.

At one time, Raytheon owned Amana Radarange ovens (sold to Maytag) and made Speed Queen washing machines—sold 1998 by Raytheon to Alliance Laundry Systems

GENERAL ELECTRIC

2001—had U.S. OK to buy Honeywell but European Union killed deal

1/2007-Buys Smiths Group aircraft control systems unit for $4.8 bil.

5/2007 sells GE Plastics for $11.6 bil to Saudi Basic Industries corp.

TELEDYNE:

Continental Engines

Brown Engineering

GENERAL DYNAMICS:

1982 Chrysler combat systems

1995 Bath Iron Works shipyard

1997 Acquired Lockheed Martin Defense Systems and Lockheed Martin Armament Systems

1998 National Steel and Shipbuilding

1999 Gulfstream Aerospace

2002 General Motors’ armored vehicle division

2003 Veridian Corp.

UNITED TECHNOLOGIES:

Pratt & Whitney

Hamilton Sundstrand

Sikorsky Helicopters

1975-Otis Elevator

1979-Carrier Refrigeration

1999-Sundstrand

2001-Chubb Security

2004-Schweitzer Aircraft-2004

2005-Kidde

2005-Rocketdyne

TOSHIBA:

Westinghouse nuclear plant division

EADS (Eurpoean Aeronautic Defence and Space) formed in 2000 bymerger of top European aerospace firms:

Daimler-Benz aerospace

Aerospatial Matra

Marconi Electronics

Airbus

Arianespace

Fokker

TEXTRON:

Avco

Bell Helicopter

1992- Cessna (bought from General Dynamics)

Lycoming

GENCORP:

Aerojet General (rocket and missile propulsion)

HONEYWELL:

1999 merged with Allied-Signal