Key Stats
Revenue (2024): $47.72 billion
Market Cap: $92 billion (as of November 2025)
Employees: 110,000+ worldwide
Headquarters: Reston, Virginia, USA
CEO: Phebe Novakovic (since 2013)
General Dynamics Corporation stands as one of the largest aerospace and defense companies in the United States. The company operates across four business segments: Aerospace, Marine Systems, Combat Systems, and Technologies.
General Dynamics produces nuclear submarines, main battle tanks, armored vehicles, and business jets through its Gulfstream subsidiary. The company ranks as the third-largest defense contractor in the U.S. based on contract value. In 2024, approximately 69% of revenue came from the federal government.
The corporation traces its origins to 1899 when Isaac Rice founded the Electric Boat Company. Today, General Dynamics employs more than 110,000 people and maintains operations across North America, Europe, and other regions worldwide.
General Dynamics History
1899
Isaac Rice founded Electric Boat Company to build John Philip Holland’s submarine designs. The USS Holland became the first submarine commissioned by the U.S. Navy in 1900.
1946
Electric Boat acquired Canadair from the Canadian government for $10 million to diversify beyond submarine production after World War II.
1952
John Jay Hopkins established General Dynamics Corporation as the parent company for Electric Boat and Canadair. The name reflected the growing importance of aerospace operations.
1954
Electric Boat launched the USS Nautilus, the world’s first nuclear-powered submarine. General Dynamics also acquired Convair and expanded into missile and aircraft production.
1982
General Dynamics purchased Chrysler’s tank division. This acquisition created the Land Systems Division and brought the M1 Abrams tank production under GD control.
1999
General Dynamics acquired Gulfstream Aerospace for $5 billion. This purchase marked the company’s return to aviation after divesting aircraft operations in the early 1990s.
2018
General Dynamics completed the acquisition of CSRA for $9.7 billion. This deal represented the largest acquisition in company history and expanded IT services capabilities.
2024
General Dynamics reported $47.72 billion in revenue with a backlog exceeding $91 billion. The company continued production of Columbia-class submarines and delivered 136 Gulfstream aircraft.
General Dynamics Co-founders
Isaac Leopold Rice
Financier and lawyer who founded Electric Boat Company in 1899. Rice acquired John Philip Holland’s submarine designs and transformed them into a commercially viable business for the U.S. Navy.
John Philip Holland
Irish engineer who developed the first practical submarine designs. His Holland VI became the USS Holland, the first submarine formally commissioned by the U.S. Navy in 1900.
John Jay Hopkins
Established General Dynamics Corporation in 1952 as president of Electric Boat. Hopkins led the diversification into aerospace through the Canadair acquisition and created the modern corporate structure.
General Dynamics Revenue
General Dynamics generated $47.72 billion in revenue during fiscal year 2024. This represented a 12.88% increase from the previous year’s $42.27 billion. The company has maintained consistent revenue growth over the past decade.
General Dynamics Market Cap
General Dynamics holds a market capitalization of approximately $92 billion as of November 2025. The company ranks among the top 250 most valuable publicly traded companies globally and maintains a strong position in the defense sector.
General Dynamics Acquisitions
General Dynamics has grown through strategic acquisitions spanning submarines, aerospace, land systems, and information technology. The company’s acquisition strategy focuses on expanding capabilities within its core business segments.
The 1946 purchase of Canadair marked the company’s first major diversification beyond submarines. Electric Boat paid $10 million for the Canadian aircraft manufacturer, which was valued at over $22 million by the Canadian government. This acquisition laid the groundwork for the General Dynamics name change in 1952.
Bath Iron Works joined General Dynamics in 1995 for $400 million. The Maine-based shipyard builds destroyers and other surface combatants for the U.S. Navy. This purchase strengthened the Marine Systems segment alongside Electric Boat’s submarine operations.
Gulfstream Aerospace became part of General Dynamics in 1999 through a $5 billion acquisition. CEO Nicholas Chabraja led this deal, which represented 56% of the company’s enterprise value at the time. Critics questioned whether a submarine and tank builder could succeed in business aviation. Gulfstream has since become a major revenue driver and produces the G650, G700, and G800 series jets.
The company expanded its European land systems presence through acquisitions of MOWAG (Switzerland), Steyr-Daimler-Puch (Austria), and Santa Barbara Sistemas (Spain) between 1999 and 2001. These purchases created General Dynamics European Land Systems, which produces armored vehicles for NATO allies.
CSRA joined General Dynamics in 2018 for $9.7 billion. This remains the largest acquisition in company history. The deal combined CSRA’s government IT services with General Dynamics Information Technology to create one of the largest federal IT contractors. Force Protection, acquired in 2011, added mine-resistant vehicle capabilities. Jet Aviation, purchased in 2008, expanded Gulfstream’s service network globally.
General Dynamics Competitors
General Dynamics competes against major aerospace and defense contractors for government contracts and commercial aviation customers. Lockheed Martin leads the industry with $64 billion in defense revenue, followed by RTX Corporation and Northrop Grumman.
| Company | Headquarters | Primary Focus |
|---|---|---|
| Lockheed Martin | Bethesda, Maryland | Fighter jets, missiles, space systems |
| RTX Corporation | Arlington, Virginia | Missiles, avionics, jet engines |
| Northrop Grumman | Falls Church, Virginia | Bombers, unmanned systems, space |
| Boeing | Arlington, Virginia | Military aircraft, satellites, rotorcraft |
| BAE Systems | London, United Kingdom | Naval systems, electronic warfare |
| L3Harris Technologies | Melbourne, Florida | Communications, sensors, cyber |
| Huntington Ingalls | Newport News, Virginia | Aircraft carriers, submarines |
| Leidos | Reston, Virginia | IT services, defense solutions |
| Textron | Providence, Rhode Island | Helicopters, unmanned aircraft |
| SAIC | Reston, Virginia | IT services, engineering support |
FAQs
Who founded General Dynamics?
John Jay Hopkins founded General Dynamics Corporation in 1952 as a reorganization of Electric Boat Company. Isaac Rice originally founded Electric Boat in 1899 to build submarines designed by John Philip Holland.
What does General Dynamics make?
General Dynamics produces nuclear submarines, surface ships, tanks, armored vehicles, Gulfstream business jets, and IT services. The company operates through Aerospace, Marine Systems, Combat Systems, and Technologies segments.
Where is General Dynamics headquarters located?
General Dynamics is headquartered in Reston, Virginia, United States. The company previously had headquarters in St. Louis from 1971 before relocating to the Washington, D.C. area.
How many employees work at General Dynamics?
General Dynamics employs more than 110,000 people worldwide. The workforce spans operations across North America, Europe, and other international locations serving defense and aerospace customers.
What is General Dynamics revenue?
General Dynamics generated $47.72 billion in revenue during fiscal year 2024. This represented a 12.88% increase from the previous year, with growth across all four business segments.