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General Dynamics Corporation SWOT & PESTLE Analysis

ID : 52604053| Nov 2019| 15 pages

COMPANY PROFILE -General Dynamics Corporation

Business Sector :Aerospace and Defense

Operating Geography :U.S.A., North America

About General Dynamics Corporation :

General Dynamics Corporation (GD) is an American aerospace and defence company having its headquarters located at Reston, Virginia, USA. It was formed in 1952 as a combination of the Electric Boat Company, Canadair and several others. In the initial years, the company was involved in supply of tanks, rockets, missiles, submarines, warships, electronics and fighters as part of their military services. From mid1990s, the company began expanding by acquiring Gulfstream Aerospace Corporation, combat-vehicle-related businesses, IT product and service companies and additional shipyards. It is organized into five business groups: Combat systems, Aerospace, Information Technology, Marine Systems and Mission Systems.
General Dynamic’s USP or unique selling point lies in being the fifth-largest defence contractor in the United States, and the sixth-largest in the world, based on sales, as of 2019. The company ranked No. 92 in the 2019 Fortune 500 list of the largest United States corporations by total revenue. General Dynamic’s vision statement reads “Reinvent the bounds of innovation to advance our customers’ missions.” The Company’s mission statement reads “Discover new ways to rapidly deliver a full spectrum of mission critical solutions by partnering with our customers, teammates, suppliers and communities.”

General Dynamics Corporation Revenue :


$ 36,193 million – FY ending 31st Dec 2018 (y-o-y growth 16.9%)
$ 30,973 million – FY ending 31st Dec 2017

Competitive Analysis of General Dynamics Corporation

SWOT
PESTLE
The SWOT analysis of General Dynamics Corporation is presented below:
Strengths
Weaknesses
1. Strong Brand Portfolio
2. Strong relations with the Government
3. Research and Development Orientation
4. Strategic Acquisitions and mergers
1. Dependency on the Government
Opportunities
Threats
1. Growth in Aerospace and Defense Industry
2. Innovations in A&D Industry
3. Expansion in emerging markets
1. Impending Economic Slowdown
2. Competitive international and domestic markets
3. Risk of failure of compliance
4. Threats due to cyber security events and disruptions
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Detailed SWOT Analysis of General Dynamics Corporation

 

Strength

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Weakness

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Opportunity

1. Growth in the Aerospace and Defense Industry: Based on the report on Aerospace & Defense industry by Deloitte titled “2018 Global aerospace and defense industry financial performance study Commercial aerospace”, this industry is positioned for strong global growth. In addition, Boeing also forecasts an $8.7 trillion A&D market by 2028. The commercial aircraft backlog is approximately 14000 and around 38000 aircrafts are expected to be produced in the upcoming 20 years. Due to increase in geopolitical tensions, there is an increase in the demand of military equipment, signaling an increase in defense spending in the coming years. Although, the A&D industry is mainly driven by the United States, but a few other countries like UK, China, France, India, Middle East, will be contributing towards the growth of this industry in the future.

2. Innovations in the A&D industry: As per reports, the global spending on research and development in the A&D Industry is low, that is, 4.1 % (comparatively slightly higher in Europe, i.e., 5.1%). With the increase in US defense budget spending; there is a scope of increase in investments in terms of innovation involving digitizing armed forces and lowering procurement expenditures. As per reports, China is trying to develop military artificial intelligence technologies, sophisticated air to air missiles using advanced imagery and sensors to pre-empt any enemy intrusions. Due to these external pressures, there is a push for making strategic investments choices in order to promote technological innovations through research and development that will yield long term value. Some companies like Lockheed Martin are using venture funds to invest in early stage technology companies that are involved in autonomous systems and robotics, artificial intelligence. Boeing, Raytheon and Airbus have also grabbed stakes in high-tech firms working in areas that include cyber-security, drones, small electric planes and augmented reality.

3. Expansion in Emerging markets: Among the top 15 countries in terms of defense expenditure, six of the countries (India, Russia, Brazil, Turkey, China and Saudi Arabia) are emerging markets. The average expected CAGR of these countries is 4.5% as opposed to the average of 1.9% of developed countries. The level of defense expenditure is also impacted by other factors like, political stability, relationship with neighboring countries, terrorist activities. The governments of these emerging markets are looking for opportunities to modernize their armed forces. In the aerospace industry, these economies, especially China, will drive the demand in the coming decade. Domestic India is expected to become the 5th largest route in the world by 2036 in terms of origin and destination air passenger flow. Therefore, it is beneficial to expand operations in these markets to bring the companies closer to the customers.

Threat

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SWOT & PESTLE.com (2019). General Dynamics Corporation SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/general-dynamics/ [Accessed 12 Dec, 2019].

In-text: (SWOT & PESTLE.com, 2019)

Copyrights and Disclaimer

General Dynamics Corporation SWOT and PESTLE analysis has been conducted by Pallavi Roy and reviewed by senior analysts from Barakaat Consulting.

Copyright of General Dynamics Corporation SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

General Dynamics Corporation SWOT & PESTLE Analysis
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