Lockheed Martin is the world’s largest defense contractor. With a strong presence across multiple key aerospace segments, the company is well positioned to compete for critical US and international opportunities. Its expertise in systems integration, space and aircraft also gives it considerable potential to bring together the systems capabilities to which major US prime contractors now aspire. In addition, Lockheed Martin has a long lived and a strong reputation for technological expertise.

AeroVironment may be classified as a small defense company, but it is a giant in mini-UAS. The company repeatedly beats larger companies in small UAV competitions. Those victories make it the company to beat in competitions for U.S. military small UAS. The company reported $717 million in revenue for fiscal 2024 (ending April 30, 2024). This represented year-over-year growth of 33%, reflecting recent acquisitions and strong organic growth. Since 2017 revenue has grown at a 17.4% compound annual growth rate.

With nine months of deliveries on the books, Airbus’s 2024 delivery target of 770 is looking a little shaky. In the first nine months of 2023, Airbus delivered 488 aircraft, and their total-year deliveries were 735. So far in 2024, Airbus has delivered 497 aircraft, nine more than last year’s nine-month total. Assuming the same torrid delivery pace in the final quarter of 2024 as was experienced in 2023, that suggests that Airbus is actually on track to deliver just 747 aircraft this year.

After more than a year without deliveries as Lockheed Martin worked to get the Block 4 software to a final release standard, the JPO relented on its position that they would only accept completed jets. Beginning in July 2024, Lockheed can now go to DD 215 sign-off with F-35s that have Technical Refresh 3 but not a final version of the software. According to LM Aeronautics CEO Greg Ulmer, Lockheed has already begun to ship US aircraft with version 351 Block 4 software and will follow with updated versions of international “353” software in late August.