In the heart of the American economy beats a strong manufacturing pulse, driving innovation, employment, and economic growth.
The manufacturing sector overall is a significant contributor to the US economy, accounting for 10.70% of the total output in the country and employing 8.41% of the workforce.
As we delve into the landscape of US manufacturing, we uncover a diverse and robust sector that continues to shape the nation's industrial prowess. Let's explore the top manufacturing industries that are keeping America at the forefront of global production.
1. U.S. Aircraft, Engine & Parts Manufacturing: Market Outlook
The U.S. aerospace parts manufacturing market size was estimated at USD 219 billion in 2023 and is expected to grow at a CAGR of 1.7% from 2024 to 2030.
The U.S. is the largest aerospace & defense market, with manufacturing facilities of all major industry players established in the country. Manufacturers of aerospace & defense systems are making strong gains from the export of manufactured goods, which has led to a rise in the rate of manufacturing. Imports of aerospace & defense systems are also experiencing considerable growth, resulting in a positive trade balance in the U.S. aerospace and defense industry.
The aircraft manufacturing segment dominated the market with a revenue share of 58%. This segment comprises the manufacturing and assembly of a complete aircraft, including aero structure. The U.S. market is extremely favourable for the aircraft manufacturing owing to the increased number of aging fleets in the region.
Top 5 Aerospace Manufacturing Companies in the US by Revenue
Name | Revenue |
Boeing | US$ 77 billion |
Lockheed Martin Aeronautics Co. | US$ 27.4 billion |
Northrop Grumman Aeronautics Systems | US$ 10.7 billion |
Gulfstream Aerospace Corp | US$ 8.6 billion |
Textron Aviation, Inc | US$ 5.37 billion |
General Atomics Aeronautical Systems, Inc. | US$ 2.5 billion |
2. US Defence Manufacturing
The US Defense manufacturing Market size is estimated at USD 309.77 billion in 2024, and is expected to reach USD 367.30 billion by 2029, growing at a CAGR of 3.58% during the forecast period (2024-2029).
DoD funding for military activities support a broad range of activities. The largest category, operation and maintenance, cost $318 billion in 2023. It covers the cost of military operations such as training and planning, maintenance of equipment, and most of the military healthcare system (separate from outlays made by the Department of Veterans Affairs). The second largest category, military personnel, supports pay and retirement benefits for service members and cost $184 billion in 2023.
Several smaller categories accounted for the rest of DoD spending. Procurement of weapons and systems cost $142 billion in 2023 and $122 billion was spent on research and development of weapons and equipment. The military also spent over $10 billion on the construction and management of military facilities and $1 billion on family housing.
Top US Defence Manufacturers
Company | 2023 Defense Revenue (in millions) | 2022 Defense Revenue (in millions) | Defense Revenue Change | 2023 Total Revenue (in millions) | Revenue From Defense |
Lockheed Martin | $64,650.00 | $63,334.00 | 2% | $67,571.00 | 96% |
RTX | $40,600.00 | $39,600.00 | 3% | $68,900.00 | 59% |
Northrop Grumman | $35,197.00 | $32,435.00 | 9% | $39,300.00 | 90% |
General Dynamics | $33,651.00 | $30,840.00 | 9% | $42,272.00 | 80% |
Boeing | $32,684.00 | $30,843.00 | 6% | $77,794.00 | 42% |
L3Harris Technologies | $15,553.00 | $13,927.00 | 12% | $19,430.00 | 80% |
HII | $11,430.00 | $10,625.00 | 8% | $11,454.00 | 100% |
Leidos | $8,732.00 | $9,525.00 | -8% | $15,438.00 | 57% |
Booz Allen Hamilton | $6,830.18 | $5,904.37 | 16% | $10,661.90 | 64% |
Amentum | $5,700.00 | $6,000.00 | -5% | $7,800.00 | 73% |
Honeywell | $4,986.00 | $4,630.00 | 8% | $36,662.00 | 14% |
CACI International | $4,817.47 | $4,331.33 | 11% | $6,702.55 | 72% |
General Electric | $4,714.00 | $4,410.00 | 7% | $67,954.00 | 7% |
3. US Computer and Electronic Products Manufacturing
The computer and electronic products manufacturing is one of the largest manufacturing sector. In terms of amount of Goods produced by this manufacturing sector has grown from US$ 261 billion in 2014 to US$ 360 billion in 2022.
According to the North American Industry Classification System (NAICS), the computer and electronic products industry engages in the production and assembly of computers, computer peripherals (including items like printers, monitors, and storage devices), communications equipment (such as wired and wireless telephones), and similar electronic products (including audio and video equipment and semiconductors). It also includes establishments that manufacture components for these products.
Top Computer and Electronic product Manufacturing Companies in the US by Revenue
Brands | Annual Revenue | Products |
Apple | $385 billion | iPhone, iPad, Mac computers, Apple Watch, and services |
Dell Technologies | $120 billion | Computers, servers, and storage systems |
Hewlett-Packard (HP) | $70 billion | Computers, printers, and 3D printing solutions |
Cisco Systems | $60 billion | Networking equipment, software, and services |
Intel | $85 billion | Microprocessors, chipsets, and solid-state drives |
Qualcomm | $40 billion | Mobile chipsets, modems, and licensing |
Nvidia | $25 billion | GPUs, AI processors, and autonomous driving platforms |
AMD (Advanced Micro Devices) | $21 billion | Microprocessors, GPUs, and server processors |
Flex Ltd. | $28 billion | Electronics contract manufacturing services |
Jabil Inc. | $35 billion | Electronics contract manufacturing services |
4. US Automotive Manufacturing
Motor vehicle and parts manufacturing gross output in U.S. 2012-2022
In 2023, the auto industry in the United States produced approximately 10.6 million motor vehicles. The figures include passenger cars, light commercial vehicles, heavy trucks, as well as buses and coaches.
The below table shows US Motor Vehicles Production and Domestic Sales in Numbers (Thousands of Units)
Top 5 Auto Manufacturing Companies in the US by Revenue
American Auto Manufacturer | Annual Revenue |
Ford Motors | US$ 176 billion |
GMC | US$ 172 billion |
Tesla | US$ 97 billion |
Jeep | US$ 44 billion |
PACCAR INC | US$ 33 billion |
5. Pharma and Medical Device Manufacturing Outlook in the US
U.S. pharmaceutical industry - domestic and abroad revenue 1975-2022
This statistic shows the domestic and international revenues of the pharmaceutical industry in the United States between 1975 and 2022. In 2022, domestic revenue came to around 364 billion U.S. dollars.
The U.S. is expected to spend $605-$635 billion on medicine in 2025.
There are more than 310,574 pharmacists currently employed in the United States.
There are over 5,000 pharmaceutical companies in the U.S.
Generic drugs account for about 88% of prescriptions filled in the U.S.
Medical Device Market by end value
Medical Device market in the US have grown from US$ 122.3 billion in 2016 to US$ 159.67 in 2022.
Top 5 Pharma and Medical Device Manufacturing Companies in the US by Revenue
Pharma Company | Annual Revenue |
Johnson & Johnson | US$ 95 billion |
Merck & Co Inc | US$ 60 billion |
Pfizer Inc | US$ 58 billion |
AbbVie Inc | US$ 54 billion |
Bristol-Myers Squibb Co | US$ 45 billion |
Top Medical Device Manufacturers
Company Name | Annual Revenue | Market Cap |
Medtronic plc | $31.56B | $94.04B |
Abbott Laboratories | $31.27B | $163.14B |
Danaher Corporation | $29.57B | $145.57B |
Johnson & Johnson | $27.40B | $381.67B |
Siemens Healthineers AG | $23.43B | $56.87B |
Fresenius Medical Care | $20.92B | $11.99B |
Medline Industries | $20.20B | NA |
Becton, Dickinson and Company | $18.90B | $68.07B |
GE Healthcare | $18.46B | $130.86B |
Stryker Corporation | $18.40B | $103.95B |
Comments