TOP 50 PENTAGON CONTRACTORS
	By Annual Spending
					Annual Spending
Rank	Defense Contractor				1998	2000	2002	2003	Change
2003					($ 000s)	($ 000s)	($ 000s)	($ 000s)	03/02
-	-	-	-	-	-	-	-	-	-
1	LOCKHEED MARTIN CORPORATION				$12,341,236	$15,125,846	$16,997,272	$21,927,183	29%
2	BOEING COMPANY, THE INC				$10,865,899	$12,041,420	$16,551,756	$17,339,689	5%
3	NORTHROP GRUMMAN CORPORATION				$2,690,742	$3,079,615	$8,732,668	$11,125,799	27%
4	GENERAL DYNAMICS CORPORATION				$3,679,867	$4,195,923	$6,962,131	$8,235,493	18%
5	RAYTHEON				$5,661,161	$6,330,613	$6,995,085	$7,915,749	13%
6	UNITED TECHNOLOGIES CORPORATION				$1,983,147	$2,071,536	$3,607,184	$4,547,824	26%
7	HALLIBURTON COMPANY INC				$285,623	$595,070	$483,670	$3,920,877	711%
8	GENERAL ELECTRIC COMPANY INC				$1,161,392	$1,609,329	$1,559,979	$2,842,131	82%
9	SCIENCE APPLICATIONS INTERNATIONAL				$1,223,978	$1,522,077	$2,074,920	$2,615,869	26%
10	COMPUTER SCIENCES CORPORATION				$646,655	$1,164,634	$807,671	$2,530,847	213%
11	HUMANA INC						$1,304,691	$2,362,112	81%
12	L-3 COMMUNICATIONS HOLDING				N/A	$377,662	$1,660,048	$2,085,738	26%
13	B A E SYSTEMS PLC						$1,115,608	$1,927,583	73%
14	HEALTH NET INC				N/A	$550,580	$1,691,430	$1,756,489	4%
15	CARLYLE GROUP					$1,194,713		$1,670,174	20%
16	ITT INDUSTRIES, INC				$780,794	$553,972	$994,167	$1,234,819	24%
17	TRIWEST HEALTHCARE ALLIANCE CO.				$419,973	$335,878	$823,741	$1,200,418	46%
18	HONEYWELL INTERNATIONAL INC				N/A	$951,255	$1,278,370	$1,199,176	-6%
19	NORTH AMERICAN AIRLINES						$622,199	$1,194,932	92%
20	FEDEX CORP				N/A	$452,385	$385,781	$1,046,698	171%
21	BELL BOEING JOINT PROGRAM							$986,978
22	BECHTEL GROUP, INC				N/A	$694,717	$1,029,712	$910,400	-12%
23	BOOZ ALLEN & HAMILTON INC				$311,704	$419,576	$687,553	$807,991	18%
24	BOEING SIKORSKY COMANCHE TEAM				N/A	$384,751	$661,832	$799,280	-100%
25	TITAN CORPORATION, THE						$501,630	$798,536	59%
26	GOVERNMENT OF THE UNITED STATES							$780,876
27	ELECTRONIC DATA SYSTEMS CORP				$260,804	$329,554	$468,395	$772,085	65%
28	VERITAS CAPITAL MANAGEMENT LLC						$521,866	$766,887	47%
29	EXXON MOBIL CORPORATION				N/A	$324,816	$570,877	$756,733	33%
30	TEXTRON INC				$1,837,815	$1,164,465	$908,785	$722,530	-20%
31	JOHNSON CONTROLS, INC						$434,210	$719,370	66%
32	PARSONS CORPORATION							$685,011
33	CARDINAL HEALTH, INC						$649,582	$652,408	0%
34	OSHKOSH TRUCK CORP				N/A	$372,526	$601,664	$649,662	8%
35	DELL COMPUTER CORPORATION						$504,969	$641,795	27%
36	GM GDLS DEFENSE GROUP LLC, JV						$678,307	$635,104	-6%
37	STEWART & STEVENSON SERVICES				N/A	$575,303	$439,939	$619,613	41%
38	CHUGACH ALASKA CORPORATION							$580,208
39	URS CORPORATION						$800,825	$577,755	-28%
40	RENCO GROUP INC							$575,303
41	ENGINEERED SUPPORT SYSTEMS INC							$559,930
42	JACOBS ENGINEERING GROUP INC				N/A	$387,343	$486,024	$557,164	15%
43	N.V. KONINKLIJKE NEDERLANDSCHE						$539,104	$545,843	1%
44	ALLIANT TECHSYSTEMS INC				$316,569	$470,397	$674,013	$542,125	-20%
45	AEROSPACE CORPORATION, THE				$339,055	$334,194	$473,061	$539,517	14%
46	HARRIS CORPORATION						$381,477	$517,280	36%
47	GOVERNMENT OF CANADA				N/A	$676,881	$394,578	$515,710	31%
48	MASSACHUSETTS INSTITUTE OF TECH							$514,230
49	ANTEON INTERNATIONAL CORPORATION							$508,530
50	INTERNATIONAL BUSINESS MACHINES						$379,892	$468,803	23%
	TOTAL TOP 50				$44,806,414	$58,287,031	$87,436,668	$118,387,256	35%
	Percent of total defense budget				17%	21%	25%	25%
	LEGEND:	IT companies		Non-industrial suppliers		Non-U.S. suppliers			New in 2003
	Source: Annex Research (based on DOD data)
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