General Dynamics

General Dynamics is a leading American Aerospace and Defense company providing defense products and services to customers in more than 90 countries.

Categories

Energy and Utilities  

#267

Rank

$60.39B

MarketCap US

US United States

Country

Summary

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services. The Marine Systems segment designs and builds nuclear-powered submarines, surface combatants, and auxiliary ships for the United States Navy and Jones Act ships for commercial customers, as well as builds crude oil and product tankers, and container and cargo ships; provides maintenance, modernization, and lifecycle support services for navy ships; offers and program management, planning, engineering, and design support services for submarine construction programs. The Combat Systems segment manufactures land combat solutions, such as wheeled and tracked combat vehicles, Stryker wheeled combat vehicles, piranha vehicles, weapons systems, munitions, mobile bridge systems with payloads, tactical vehicles, main battle tanks, armored vehicles, and armaments; and offers modernization programs, engineering, support, and sustainment services. The Technologies segment provides information technology solutions and mission support services; mobile communication, computers, and command-and-control mission systems; intelligence, surveillance, and reconnaissance solutions to military, intelligence, and federal civilian customers; cloud computing, artificial intelligence; machine learning; big data analytics; development, security, and operations; and unmanned undersea vehicle manufacturing and assembly services. The company was founded in 1899 and is headquartered in Reston, Virginia.


History

General Dynamics is an American defense conglomerate best known for the production of military jets, armored vehicles, and naval vessels. The company was founded in 1952 by Cleveland industrialist Justin Hoogerwerf and investment banker Erwin Kossman. Hoogerwerf and Kossman had previously employed their own funds to acquire and reorganize struggling small defense contractors. The company initially specialized in airplanes, but quickly expanded its products to include nuclear submarines, tanks, and other military vehicles. By the end of the 1950s, General Dynamics had over 6,500 employees and 120,000 shareholders. Throughout the 1960s, the company experienced a period of rapid growth and merger mania, with the acquisition of dozens of smaller defense companies including Electric Boat, Convair and Stromberg-Carlson. This expansion brought in a vast array of new technology and products for the company, positioning General Dynamics as one of the largest and most recognizable defense contractors in the world. In the 70s, the company's revenues skyrocketed, but the bottom line stagnated under the economic downturn and the increasing cost of military spending. The company managed to remain profitable by diversifying into the commercial sector, and began to manufacture products such as computers, business machines and communications systems. In the 80s, General Dynamics experienced a severe downsizing, reducing its workforce by more than 50%. This period of restructuring saw the company transform into an electronics specialist, as it divested itself of its aircraft divisions. In 1989, General Dynamics acquired General Motors' defense division, dramatically increasing the size of the company. By the end of the century, General Dynamics became a leader in information technology and advanced net-centric warfare. More recently, General Dynamics has diversified into other defense industries such as cybersecurity, energy, and space exploration. In December 2019, it merged with aerospace firms Northrop Grumman, making it currently the fifth largest defense contractor in the world.


Mission

General Dynamics is committed to providing innovative solutions and superior systems and services, valued by customers and all stakeholders.


Vision

To be the premier provider for our customers for all products and services connected with aerospace and defense.


Key Team

Bronson Aviles (CCO Instructor, Sandy)

Don Schmidli (CTO & Chief Engineer)

Fred Larkins (Sr. Call Center Manager, CCO Phone Operations)

Greg Novach (Chief Engineer)

Heather Pike Mba (Chief of Contracts)

Jaina Raposo (Project Administrator, CCO Quality Operations)

James Crown (Board Member)

Jason W Aiken (Senior VP/CFO)

Jeffrey C Mazanec (Director of Corporate Security & Chief Security Officer)


Recognition and Awards
Fortune World's Most Admired Companies: General Dynamics has been recognized as one of the World's Most Admired Companies by Fortune magazine for nine consecutive years (as of 2021). Military Friendly Employer: General Dynamics has been recognized as a Military Friendly Employer by Victory Media for 13 consecutive years (as of 2021). Corporate Equality Index: General Dynamics has received a score of 100 on the Corporate Equality Index (CEI) for four consecutive years (as of 2021). The CEI is a national benchmarking survey and report on corporate policies and practices related to LGBTQ workplace equality. Ethisphere Institute's World's Most Ethical Companies: General Dynamics has been recognized by the Ethisphere Institute as one of the World's Most Ethical Companies for five consecutive years (as of 2021). National Veterans Wheelchair Games: General Dynamics has been a proud sponsor of the National Veterans Wheelchair Games, the largest annual wheelchair sports event in the world, for more than 20 years. Supplier Excellence Award: General Dynamics has received the Supplier Excellence Award from the Defense Logistics Agency (DLA) for its outstanding performance in supplying critical parts to the U.S. military. Aviation Week Program Excellence Awards: General Dynamics has received multiple Aviation Week Program Excellence Awards, which recognize aerospace and defense programs that exemplify the best in value creation, leadership, and technical excellence. Edison Awards: General Dynamics has received multiple Edison Awards, which honor innovation and excellence in the development, marketing, and launch of new products and services.

References
General Dynamics
Leadership team

John Holland (Founder)

Bonnie McKinney (Bilingual Quality Analyst, CCO Quality Operations)

Industries

Energy and Utilities

Products/ Services
Aircraft flight control system, Auxiliary ships, Business jets, Combat vehicles, Communications systems, IT systems, Jones Act ships, Munitions, Nuclear-powered submarines, Stealth Ship, Tanks, Vision Systems, Watercraft, Weapon systems
Number of Employees
Above 50,000
Headquarters
Reston, Virginia, United States
Established
1899
Company Type
Holding company
Company Registration
SEC CIK number: 0000040533
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
GD
Social Media

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Sun Mar 03 2024
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