Pentagon contract costs totaled $431.4 billion in fiscal year 2023
By Alimat Aliyeva
In fiscal year 2023, the US Department of Defense spent $431.4 billion on various contracts, $61.4 billion of these funds were received by Lockheed Martin Corporation, Azernews reports.
It follows from the document that "the obligations of the US Department of Defense under contracts, the cost of salaries and grants in 50 American states and the District of Columbia totaled $609.2 billion, which is equal to 2.2% of the country's GDP." "If the total costs are divided among all residents of the United States, it will amount to $1,819 per American citizen. Of these funds, $431.4 billion (71%) were spent on contracts for products and services, $167.4 billion (27%) were paid as salaries to employees of the US Department of Defense, and $10.4 billion (2%) were issued in the form of grants," the report says.
Among the companies, the largest amount of funds under contracts
during the reporting period was received from the Pentagon by the
American corporation Lockheed Martin - $ 61.4 billion. RTX
Corporation is in second place ($24.1 billion), and General
Dynamics is in third place ($22.9 billion). Next are Boeing ($20.1
billion), Northrop Grumman ($16.3 billion), Huntington Ingalls
($10.5 billion), Humana ($7.8 billion), L3Harris Technologies ($7.5
billion), BAE Systems ($7 billion) and Cencora ($4.4 billion).
"Defense spending, including salaries and grants in 50 states and
the District of Columbia, increased by $50.5 billion in fiscal year
2023 compared to the previous fiscal year," the Pentagon said.
"This was the result of an increase in the obligations of the US
Department of Defense under contracts by 8.9%, salary costs by 5%,
and grant costs by 7.5%."
In fiscal year 2022, the U.S. Department of Defense spent $389.5 billion on various contracts. Then Lockheed Martin also received the largest share of these funds among companies - $44.5 billion.
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