Worst performing defense contractors 2000-2013
Report "Performance of the Defense Acquisition System," compared the Pentagon’s top contractors in terms of their ability to develop and produce weapons systems on time and on budget. "In terms of cost overruns on development programs, Northrop fared worse than any of its peers, with a weighted price growth average of 41 percent, followed by Lockheed (37 percent), Raytheon (32 percent), General Dynamics Corp. (22 percent) and Boeing Co. (8 percent), according to the document. The British defense giant, BAE Systems Plc, was the only one of the group to develop weapons under budget, with a price growth of –3 percent, it showed. Overall, cost overruns on development contracts averaged 29 percent, fueled by an average price growth of 77 percent on contracts held by more than a dozen smaller contractors, including the ship-builder Huntington Ingalls Industries Inc. and the drone-maker General Atomics."
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