Defense Contracting
Conduct Screen Weapons & Military
Companies that sell weapons, military materiel, defense equipment, or military services where the military application is material — not incidental. Exclusion thresholds: (1) the company has developed specialized products or marketing targeting military customers, (2) military/defense revenue exceeds approximately 15% of total revenue, or (3) the product is purpose-built for warfare (guidance systems, weapons platforms, munitions). Selling dual-use products (semiconductors, extension cords, commodity components) that happen to be purchased by militaries is NOT grounds for exclusion. Supporting military personnel as human beings (healthcare, insurance, worker protections) is NOT grounds for exclusion. The distinction is between supporting the war-industrial complex and incidentally serving people who work in it. Distinct from occupied_territories (which covers what military customers do with the equipment) and surveillance_tech (which covers surveillance products sold to any buyer).
130 companies currently excluded under this screen
Excluded Companies (130 total)
Showing 25 of 130 companies excluded under this screen.
| Ticker | Company | Reason |
|---|---|---|
| NOC | Northrop Grumman Corp. | Northrop Grumman Corp. is a principal U.S. defense contractor specializing in the development and production of weapons systems and military technology. According to SIPRI data, the company generated approximately $37.9 billion in arms sales in 2024, constituting over 92% of its total revenue. Its product portfolio includes strategic deterrent systems like the Ground Based Strategic Deterrent (GBSD) intercontinental ballistic missile, autonomous systems such as the MQ-4C Triton surveillance drone, and a range of tactical weapons and guidance systems. The company’s core business is the design and manufacture of purpose-built warfare platforms. Recent contracts highlight this focus, including awards from the U.S. Missile Defense Agency to develop defenses against hypersonic missiles and its selection by the Pentagon to develop hypersonic weapons. In February 2026, the U.S. Army moved to impose financial penalties on Northrop Grumman for delays in supplying artillery shells to Ukraine, underscoring its direct role in supplying active combat operations. Northrop Grumman has a documented history of misconduct in its dealings with the U.S. government. In 2018, the company paid $27.5 million under the False Claims Act, admitting that employees had inflated labor hours on government contracts. A 2016 Department of Defense Inspector General report further identified weaknesses in the company’s controls over labor qualifications charged to a counter-narcotics program. These incidents reflect a pattern of failures in the administration of its primary business: fulfilling military contracts. |
| IRDM | Iridium Communications Inc | Iridium Communications Inc. operates a global satellite communications network that is a critical, purpose-built asset for U.S. military operations. The company’s core service, Iridium Certus, is marketed specifically for defense applications, providing secure, beyond-line-of-sight voice and data connectivity for command and control, intelligence, surveillance, and reconnaissance (ISR). In June 2024, Iridium secured a new five-year, $94 million contract with the United States Space Force's Space Systems Command. This follows a July 2019 contract extension from the Department of Defense valued in excess of $400 million, indicating deep, ongoing integration with military infrastructure. The company’s business development is explicitly oriented toward military customers. Iridium maintains a Vice President of Government Programs and conducts partnership-driven field exercises, such as Operation Arctic Lynx, to demonstrate tactical applications for warfighters. Its technology is integrated into specialized military systems; for example, General Dynamics Mission Systems and Iridium were jointly awarded a contract by the Space Development Agency for proliferated low-Earth orbit (pLEO) communications, a key component of the Pentagon's Joint All-Domain Command and Control (JADC2) initiative. While Iridium’s exact percentage of defense revenue is not publicly broken out in the provided evidence, the scale of its long-term contracts, specialized marketing, and integration into weapons platforms meets the threshold for material military application. |
| HII | Huntington Ingalls Indus | Huntington Ingalls Industries is the largest military shipbuilder in the United States and derives the overwhelming majority of its revenue from defense contracts. According to SIPRI data, the company’s arms sales accounted for approximately $6.74 billion of its $7.1 billion in total sales, representing roughly 95% of its revenue. Its core business is the design, construction, and maintenance of purpose-built warships for the U.S. Navy, including nuclear-powered aircraft carriers and submarines. The company is the sole builder of U.S. Navy aircraft carriers and a leading supplier of nuclear-powered submarines. Its products are not dual-use commodities but are specialized weapons platforms integral to U.S. naval power projection. This specialization meets the exclusion threshold for companies whose products are purpose-built for warfare. The U.S. Congressional Research Service identifies HII as a key industrial concern specializing in specific military systems within the defense industrial base. Huntington Ingalls has also faced significant regulatory enforcement related to its defense contracting. In 2017, the company agreed to pay $9.2 million to settle allegations it submitted false labor charges on U.S. Navy and Coast Guard contracts. A 2019 whistleblower complaint further accused the company of falsifying tests and certifications on stealth coatings for its submarines. ViolationTracker documents a total of $19 million in penalties since 2000 for the company. |
| MSFT | Microsoft Corporation | Microsoft is a major U.S. defense contractor across cloud infrastructure, AI, and combat systems. The company shares a $9 billion Joint Warfighting Cloud Capability contract awarded by the Pentagon in December 2022 with Amazon, Google, and Oracle, providing cloud services at all classification levels through Azure Government. As of March 2025, JWCC had awarded $2.3 billion in total task orders, and Microsoft has disclosed the highest operating income from the contract among the four awardees. Additional defense contracts include a $3.17 billion software deal and a $1.76 billion enterprise services agreement with the Department of Defense, plus a Navy contract vehicle worth up to $1.5 billion for Microsoft product support. Microsoft's $21.9 billion Integrated Visual Augmentation System contract with the U.S. Army, originally awarded in 2021 for HoloLens-based augmented reality combat headsets, was restructured in February 2025 after persistent hardware failures and a critical Pentagon inspector general report. Microsoft transferred industry leadership to Anduril while retaining the role of preferred cloud provider for IVAS workloads. The Army subsequently launched a full recompete under the renamed Soldier Borne Mission Command program, awarding prototype contracts to Anduril and startup Rivet. In September 2025, Microsoft offered the U.S. government up to $6 billion in discounts over three years on Azure, Microsoft 365, Copilot, and cybersecurity tools. |
| KBR | KBR | KBR is a major military services contractor whose business model is materially dependent on U.S. defense spending. According to SIPRI data, the company derived an estimated 60.4% of its revenue from military services in 2024, totaling approximately $4.97 billion. This places KBR among the top 40 largest defense contractors globally. The company’s core military business is providing logistical support to deployed U.S. forces under the LOGCAP (Logistics Civil Augmentation Program) contract. During the Iraq War, KBR employed more than 50,000 people in theater to build and staff facilities, provide food, and deliver other essential services, representing roughly half of all deployed contractor personnel at the time. The Pentagon has paid KBR over $20 billion for this work. This operational role—directly enabling military deployment and occupation—distinguishes KBR from companies selling incidental goods to the military. KBR’s conduct as a contractor has been marked by significant legal violations. In 2022, the company settled allegations of kickbacks and false claims related to LOGCAP III for $108.75 million. The lawsuit alleged KBR routinely lied to the Army by certifying it had checked for excess material before ordering new supplies. A separate 2013 federal case involved allegations of labor trafficking. The company’s model—profiting from war while accumulating legal settlements for misconduct—epitomizes the war-industrial complex. |
| HON | Honeywell International Inc. | Honeywell International operates a dedicated Aerospace and Defense business segment, which generated approximately $14.7 billion in revenue in 2023, representing over 35% of the company's total sales. This segment develops and manufactures specialized products for military applications, including aircraft engines, navigation and guidance systems, and components for military vehicles and weapons platforms. The company is a significant defense contractor to the U.S. Department of Defense and allied governments. In 2021, the U.S. Department of State concluded a $13 million settlement with Honeywell over allegations it violated the Arms Export Control Act and the International Traffic in Arms Regulations. The settlement resolved charges that Honeywell had exported technical drawings for components of multiple military aircraft, including the F-35 Joint Strike Fighter, F-22 fighter jet, and B-1B Lancer bomber, to foreign countries without authorization. Honeywell's defense portfolio includes technologies specifically designed for warfare, such as electronic warfare systems and directed energy weapons. The company is identified by the Stockholm International Peace Research Institute (SIPRI) as one of the world's top 100 arms-producing and military services companies. Its products are integral to advanced U.S. weapon systems, and its business model is materially dependent on military contracting revenue. |
| GOOGL | Alphabet Inc. | Google Cloud is one of four vendors on the Pentagon's Joint Warfighting Cloud Capability (JWCC) contract, a multi-billion-dollar program with a combined ceiling of $9 billion. Google achieved Impact Level 6 (Secret) security authorization in early 2025 — the last of the four JWCC vendors to do so. The JWCC contract recently crossed $1 billion in cumulative task orders. In December 2025, the Department of Defense launched GenAI.mil, a platform delivering commercial AI directly to its workforce. Google Cloud's Gemini for Government was the first product housed in GenAI.mil, making Alphabet's most advanced AI models available to 3 million Pentagon employees, warfighters, and contractors. This represents a deliberate reversal of Google's 2018 decision to withdraw from Project Maven and pledge not to develop AI for weapons or surveillance. In February 2025, Alphabet formally lifted its 2018 ban on AI for weapons and surveillance applications and committed $75 billion to AI infrastructure investment. Google Cloud established a dedicated defense and intelligence division in 2022 to pursue military contracts. The company actively markets cloud and AI capabilities to defense and intelligence customers through purpose-built government offerings. This is not incidental dual-use — it is a strategic business line with dedicated sales, security authorization, and product development. |
| BAESF | BAE Systems | BAE Systems plc is a British multinational aerospace and arms manufacturer. According to the Stockholm International Peace Research Institute (SIPRI), the company is the world’s fourth-largest arms producer, with approximately $34 billion in arms sales in 2023, constituting the overwhelming majority of its revenue. Its product portfolio includes purpose-built weapons platforms such as combat vehicles, naval ships, artillery systems, and electronic warfare equipment. The company is a principal contractor for major defense programs, including the F-35 fighter jet and the UK’s next-generation nuclear submarine fleet. In early 2026, BAE Systems announced more than $500 million in new defense contracts for various military vehicles and systems. The company has a history of regulatory violations related to its core defense business. In 2011, BAE Systems agreed to pay up to $79 million to the U.S. State Department for violating military export rules. More recently, a subsidiary, BAE Systems Land & Armaments, was accused by the U.S. government of incorrectly billing labor rates on a tactical vehicle contract, allegedly adding $11 million to the cost. As a manufacturer of specialized weapons and military platforms where defense revenue is material and central to its operations, BAE Systems meets the threshold for exclusion under military contracting. |
| TDG | TRANSDIGM GROUP INC | TransDigm Group designs and manufactures proprietary aerospace components, including flight-critical parts like actuators, valves, and power systems, for both commercial and military aircraft. The company’s business model is materially dependent on defense contracts; its specialized products are integral to military platforms, and defense revenue constitutes a significant portion of its sales. A 2024 academic study compiling SIPRI data listed TransDigm among major arms-producing companies. The company has been the subject of sustained scrutiny for its pricing practices on sole-source military spare parts contracts. A February 2019 Department of Defense Inspector General report, "Review of Parts Purchased From TransDigm Group, Inc.," found the DoD had paid nearly $21 million in excess profits. In a May 2019 congressional hearing before the House Oversight and Reform Committee, Pentagon officials testified that TransDigm had "gouged our taxpayers" with price markups as high as 4,451% on parts between 2015 and 2017. The hearing examined the company's strategy of acquiring manufacturers with proprietary, sole-source contracts and then sharply increasing prices. In July 2024, a group of U.S. senators cited these patterns in calling for further DoD, FTC, and DOJ scrutiny of TransDigm's acquisition of two specialized aerospace contractors. |
| LT | Larsen & Toubro Limited | Larsen & Toubro Limited (L&T) is a major Indian defense contractor and a significant supplier to the Indian military. The company operates a dedicated Defence Engineering business segment that designs, develops, and manufactures specialized military equipment. This includes major weapons platforms such as the K9 Vajra-T self-propelled howitzer, Pinaka multi-barrel rocket launcher systems, and advanced electronic warfare suites. In March 2024, the Indian Ministry of Defence signed a contract with L&T worth Rs 7,668.82 crore (approximately $925 million) for the supply of a Close-in Weapon System (CIWS), a purpose-built air defense artillery system designed to intercept incoming missiles and aircraft. The company is also a prime contractor for naval shipbuilding, constructing frigates, corvettes, and submarines for the Indian Navy. The Stockholm International Peace Research Institute (SIPRI) identifies L&T as one of the world's largest defense contractors. Its defense business is not incidental; the company actively competes for and wins large-scale capital acquisition proposals from India's Defence Acquisition Council. The scale of these contracts and the nature of the products—artillery systems, rocket launchers, and naval combat vessels—are purpose-built for warfare, meeting the threshold for exclusion under military contracting. |
| EADSY | Airbus | Airbus is a major defense contractor, deriving approximately 17% of its total revenue from arms sales, which amounted to $12.7 billion in 2024 according to SIPRI data. This places it as the 12th largest arms producer globally. Its defense division, Airbus Defence and Space, develops and manufactures specialized military products including military transport aircraft, aerial refueling tankers, intelligence and surveillance satellites, and guided missile systems. The company actively competes for major Pentagon contracts, such as a recent bid to supply the U.S. Army with a new aerial refueling tanker. The company has a significant record of regulatory violations related to its defense business. In January 2020, Airbus agreed to pay over $3.9 billion in global penalties to resolve foreign bribery and export control charges. U.S. authorities cited its "willful failure" to disclose millions in political contributions and commissions paid to secure contracts, while the U.K. Serious Fraud Office found its defense division acted negligently by failing to maintain proper internal controls to prevent bribery. More recent allegations, reported in March 2026, involve Airbus and the U.K. Ministry of Defence being accused of concealing their role in a multi-million pound bribery scheme linked to Saudi Arabian contracts. |
| LDO | Leonardo SpA | Leonardo S.p.A. is a major European aerospace and defense contractor, deriving the majority of its revenue from military products and services. According to SIPRI data, the company reported approximately $8.5 billion in arms sales from total sales of $13.3 billion in a recent year, indicating defense is its core business. Its product portfolio includes purpose-built military aircraft, helicopters, electronics, and weapons systems. The company develops and markets specialized warfare platforms. In November 2025, Leonardo unveiled the AI-driven "Michelangelo Dome" integrated air defense system. It is also a joint venture partner with Rheinmetall in artillery systems. In the United States, Leonardo was the third-largest defense contractor in Pennsylvania by contract value in 2021, with $476.5 million in obligations. Its business includes a dedicated Underwater Armaments & Systems division, recently sold to Fincantieri. Leonardo's role as a weapons manufacturer has drawn legal and civil society challenges related to its customers. In November 2025, a coalition of seven Italian campaign groups filed a lawsuit against Leonardo and the Italian government concerning arms exports to Israel. In January 2026, the company was reported to be facing legal action in Italian courts over the same exports. |
| 47810 | Korea Aerospace | Korea Aerospace Industries (KAI) is a South Korean aerospace and defense manufacturer whose primary business activity is the development and production of military aircraft and systems. According to SIPRI, the company ranked among the world’s top 100 arms-producing companies in 2024. Its major platforms include the KF-21 Boramae fighter jet, the FA-50 light attack aircraft, and military helicopters. In 2024, the company signed a $3.5 billion contract with the United Arab Emirates for the KF-21 and a $712 million deal with the Philippines to supply twelve FA-50 light combat aircraft. These purpose-built weapons platforms are developed and marketed specifically for military customers. The company’s product portfolio and revenue are materially tied to defense. KAI’s own corporate segmentation lists military aircraft, military helicopters, and unmanned aerial vehicles as core business divisions alongside commercial aviation. The development of the KF-21 fighter is a national priority program, with BAE Systems receiving contracts from KAI to integrate Identification Friend or Foe systems for the aircraft. This specialization in combat aircraft design and production places the company within the war-industrial complex, distinct from manufacturers of dual-use commodity products. |
| ACM | AECOM | AECOM is a major defense contractor providing specialized engineering, construction, and management services to the U.S. military and foreign governments. According to SIPRI, the company was ranked among the top 100 global arms-producing and military services firms, with defense sales of $2.77 billion in 2018. More recent data indicates the company received approximately $396.9 million in Pentagon contracts in a single year, representing a material portion of its revenue. The company’s military work is specialized and integral to defense infrastructure. In 2025, AECOM was awarded two indefinite-delivery/indefinite-quantity contracts by the U.S. Army Corps of Engineers to provide architecture and engineering services for the design of new military facilities. That same year, it secured a multiple-award contract with a combined $2 billion program ceiling to support U.S. Air Force infrastructure. AECOM also regularly wins contracts involving Foreign Military Sales, including recent awards supporting military sales to Italy and Latvia. In 2020, the company’s former management services division, which handled significant defense work, was acquired by private equity firms, a transaction noted by SIPRI as reducing transparency in the arms industry. |
| AIR | AAR | AAR Corp. is a global aerospace and defense company that derives material revenue from military contracting. According to the 2024 SIPRI Top 100 list, AAR’s arms sales totaled $3.5 billion. The company operates dedicated government solutions divisions that market specialized repair, engineering, and logistics services to military and defense customers. Recent contract awards illustrate this focus: in March 2026, AAR Manufacturing LLC was awarded a $159.8 million indefinite-delivery contract by the U.S. Air Force for aircraft parts, and in September 2025, AAR Allen Services Inc. secured a $25.1 million contract for the overhaul of CH-47 helicopter cylinder assemblies. The company’s defense-related work includes the provision of ship-based and shore-based helicopter supply delivery and search-and-rescue services under U.S. Department of Defense contracts. AAR also manufactures specialized mobility solutions, such as lightweight cargo handling equipment, under contracts with the Defense Logistics Agency, explicitly designed to meet operational military requirements. This pattern of specialized products and services, coupled with defense revenue that places it among the world’s largest arms-producing companies, meets the threshold for exclusion. |
| CAE | CAE | CAE is a specialized defense contractor whose core business is developing and operating military training and simulation systems. According to the Stockholm International Peace Research Institute (SIPRI), CAE generated approximately $1.46 billion in arms revenue in 2024, representing about 42% of its total revenue. This places the company within the SIPRI Top 100 arms-producing and military services companies globally, ranking 77th in 2022. The company’s products are purpose-built for military applications. Recent contracts include a $69.9 million award in January 2026 to provide F-16 Block 70 full-mission simulators for the Taiwan Air Force under a U.S. Foreign Military Sales program. CAE also develops and operates training systems for submarine programs, fixed-wing aircraft, and helicopters under contracts with various national defense departments. A 2020 legal motion referenced by Law360 alleged the U.S. Army failed to consider two prior training accidents that occurred while CAE was providing fixed-wing training during a contract evaluation, indicating the operational centrality of its services. The military application of CAE’s simulation technology is material and specialized, exceeding the threshold for incidental dual-use products. |
| KTOS | Kratos Defense & Security Solutions Inc | Kratos Defense & Security Solutions is a defense technology contractor whose core business is developing and manufacturing specialized products for military applications. The company is a government contractor at the forefront of the U.S. Department of Defense's recapitalization of strategic weapon systems. Its product lines include target drone systems, like the BQM-177A used for weapons system testing, directed energy weapon platforms, and autonomous defense systems. Industry analyses consistently categorize Kratos alongside prime defense contractors such as Lockheed Martin, Raytheon, and L3Harris in markets for military training, autonomous platforms, and directed energy weapons. The company's operations are material to the defense sector. In December 2025, it announced a proposed public offering of $1 billion in common stock. Kratos has secured significant contracts for militarily specific equipment, including a $61.1 million U.S. Navy contract modification for its BQM-177A target drones. Its business model involves contracting directly with defense agencies, as evidenced by a 2015 settlement in which a Sacramento-based Kratos division paid $2 million to resolve allegations of inflating costs on a federal contract. |
| SAIC | Science Applications International Corporation | Science Applications International Corporation (SAIC) derives the vast majority of its revenue from U.S. federal government contracts, with defense and national security agencies as its primary customers. According to SIPRI data, SAIC generated approximately $7.5 billion in total revenue in 2024, with defense revenue constituting a material portion of that total. The company is consistently ranked among the top U.S. federal contractors, with billions in awarded contracts specifically from the Department of Defense. SAIC’s business is built around providing specialized IT services, systems engineering, and technical solutions to military and intelligence agencies. This includes contracts for modernizing U.S. Air Force systems, supporting the Pentagon’s Joint All-Domain Command and Control (JADC2) initiative, and executing a €75 million NATO missile-defense contract. The company’s public filings and CEO commentary explicitly cite defense and national security spending as central growth drivers. SAIC’s model involves developing and integrating command, control, communications, and intelligence (C3I) systems that are purpose-built for military application, exceeding the threshold for incidental or dual-use product sales. |
| 103140 | Poongsan Corp | Poongsan Corporation is a specialized manufacturer of purpose-built military munitions, deriving a substantial portion of its revenue from defense contracts. The company produces a range of ammunition and large-caliber artillery shells—including 5.56mm rifle bullets, 155mm howitzer shells, anti-aircraft shells, mortar shells, tank shells, and naval artillery shells—which are core components of major weapons platforms. Its defense business is material and growing; in a single month in late 2022, Poongsan secured military contracts worth 574.8 billion won ($465 million), a sum exceeding its total defense sales for the preceding two-year period. This surge is directly linked to the Russia-Ukraine war, with Poongsan supplying 155mm artillery shells for Hanwha Aerospace’s K9 self-propelled howitzers and 120mm tank shells for Hyundai Rotem’s K2 Black Panther tanks under a broader $15 billion defense export deal with Poland. The company’s products are integral to South Korea’s rapidly expanding defense exports, which reached a record $17 billion in 2022. Poongsan maintains no public commitment to exit or restrict its munitions manufacturing business, which remains a central and actively promoted operational pillar. |
| DRS | Leonardo DRS Inc. | Leonardo DRS Inc. is a defense technology contractor specializing in advanced military systems. Its core business is developing and manufacturing purpose-built weapons platforms, targeting systems, and command-and-control electronics for the U.S. Department of Defense and allied militaries. The company’s product portfolio includes next-generation infrared targeting systems for combat vehicles, high-performance artificial intelligence processors for military operations, and autonomous naval weapon systems. In June 2023, a Leonardo DRS subsidiary was awarded a $94 million contract to supply next-generation infrared systems. The company has also conducted open-water demonstrations of its autonomous naval systems. Its operations are integral to major defense platforms; for instance, Leonardo DRS is listed as a principal contractor for the maintenance and repair of Bradley Infantry Fighting Vehicles supplied to Ukraine. The company’s regulatory filings explicitly reference contracts for “weapon systems,” and its entire business model is structured around selling to military customers, as reflected in its detailed Code of Ethics and Business Conduct which focuses on procurement integrity for government sales. |
| CACI | CACI International | CACI International derives approximately 75% of its revenue from defense contracts, placing it among the world's largest military services companies. Its specialized work includes developing and operating intelligence, surveillance, and reconnaissance (ISR) systems, such as the TROJAN satellite communications equipment that supports military intelligence operations. The company provides interrogation and intelligence analysis services under contract to the U.S. military. In November 2024, a federal jury in Virginia found CACI Premier Technology, Inc. legally responsible for conspiring to torture and otherwise abuse detainees at Abu Ghraib prison in Iraq, awarding $42 million in damages to three Iraqi plaintiffs. This ruling is part of a long-running litigation concerning the company's interrogation support services in Iraq during the early 2000s. CACI's business model is built on providing specialized services integral to modern warfare and military intelligence. The company forecasts that sales from military modernization programs will eclipse losses from the end of operations in Afghanistan, indicating its ongoing, material dependence on defense revenue and its role in the war-industrial complex. |
| ESLT | Elbit Systems Ltd | Elbit Systems Ltd is Israel’s largest arms producer and ranks among the world’s top 25 weapons manufacturers. The company derives nearly 100% of its revenue from defense contracts, with total defense revenue reported at $5.97 billion in 2024. Its portfolio consists of purpose-built military systems, including aircraft and helicopter avionics, weaponized drones, armored vehicle protection systems, artillery, and soldier-worn mission command technology. Recent contracts illustrate the company’s specialized role in the war-industrial complex. In January 2026, Elbit was awarded a $228 million follow-on contract to supply its Iron Fist active protection system for U.S. Army Bradley fighting vehicle upgrades. That same month, its U.S. subsidiary completed manufacturing of the first Sigma Next Generation 155mm howitzer built in the United States. Another February 2026 contract, worth $277 million, was for 30mm unmanned turrets. The company also develops helmet-mounted mission command systems for the U.S. Army. Elbit’s products are materially designed for warfare, meeting the exclusion threshold for companies whose primary business is manufacturing weapons and military materiel. |
| FLR | Fluor | Fluor Corporation is a major U.S. government contractor specializing in military services. According to SIPRI data, the company consistently ranks among the world's top 100 arms-producing and military services firms. In 2023, Fluor generated approximately $1.11 billion in arms revenues, representing 7.2% of its total revenue. This military contracting activity is material and specialized, focused on providing logistics, base operations, and infrastructure support directly to the U.S. Department of Defense and Army. Recent litigation underscores the company's direct involvement in military operations. In October 2024, the U.S. Court of Appeals for the Fourth Circuit ruled on a case where a Fluor subcontractor was implicated in a bombing in Afghanistan, with the Army finding Fluor “did not comply” with its contractual obligations regarding labor supervision. Separately, a federal jury recently found Fluor Corporation committed fraud against the U.S. Army in a whistleblower case. These incidents demonstrate a pattern of conducting material business with the military and a failure to meet the associated contractual and supervisory responsibilities. |
| ERJ | Embraer | Embraer operates a dedicated Defense & Security division that designs and manufactures purpose-built military aircraft. Its flagship product is the A-29 Super Tucano, a turboprop light attack and counter-insurgency aircraft designed for close air support, armed reconnaissance, and pilot training. The company actively markets this platform for combat roles; in March 2026, Embraer announced a partnership with Valkyrie Aero to integrate an AI-powered "Gunslinger" system onto the Super Tucano, explicitly expanding its capabilities for drone and counter-drone warfare. According to SIPRI data, Embraer has ranked among the world’s top 100 arms-producing companies, with arms sales reported at $1.47 billion in a recent year. Historical corporate statements cited by SIPRI indicate the company has targeted military revenue to reach 20% of gross sales. Its U.S. subsidiary, Embraer Defense & Security Inc., is pursuing prime contractor status in the American defense market. This specialized military business is distinct from the company’s commercial aviation segment and meets the threshold of developing products specifically for warfare. |
| PLTR | Palantir Technologies Inc. | Palantir Technologies Inc. develops and markets specialized software platforms designed for military and intelligence applications. Its core product offerings include the Tactical Intelligence Targeting Access Node (TITAN) for the U.S. Army, an artificial intelligence targeting system for which it won a $100 million contract in 2024. In 2025, the company secured a $10 billion AI contract with the U.S. Army. The company operates a dedicated "Palantir Defense Solutions" division, marketing its data analytics platforms explicitly to military customers for battlefield intelligence, targeting, and autonomous weapons systems integration. These platforms are purpose-built for warfare, distinguishing them from dual-use commercial products. The scale of this business is material; defense and government contracts constitute a primary revenue stream for the company, with one analysis noting that "war boosts revenue and politically legitimises military budgets." The company's leadership actively defends and promotes this line of business, with the CEO stating the firm is "all in" on expanding its government and defense contracts. |
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