Capital goods companies are the ones that make the machinery and equipment that are used in the production of other goods and services. They provide the machines that are used in the factories, assembly lines and office buildings. The products they make are essential for businesses to function properly.
Wondering which companies dominate the capital goods industry? You’ve found the right place. This blog post highlights some of the most well-known businesses in this field. Keep reading!
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1. Caterpillar Inc.
Caterpillar Inc. is a global leader in producing construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its products serve industries like construction, infrastructure, quarrying, recycling, energy, and forestry. Headquartered in Irving, Texas, U.S., its subsidiaries include Perkins Engines, Solar Turbines, and Progress Rail.
Also known as CAT, the company started in California in 1925. Caterpillar employs over 100,000 people globally and reported $48.19 billion in revenue in 2021. As the world’s largest construction equipment manufacturer, they operate internationally and currently rank 73rd on the Fortune 500 list.
2. General Electric
General Electric is a US-based multinational conglomerate in aviation, healthcare, power generation, and renewable energy. Founded in 1892 by Thomas Edison in New York, its headquarters are in Boston, Massachusetts. As of 2022, it’s ranked 48th among Fortune 500 companies by gross revenue.
GE, founded by the famous inventor Thomas Edison, has a strong history in the capital goods industry. By early 2021, its market capitalization reached $74.196 billion, and it employed over 168,000 people globally. Subsidiaries include GE Healthcare, GE Power, GE Research, and GE Aviation.
3. Honeywell International
Honeywell International is a US-based technology company offering commercial and consumer products, engineering services, and aerospace systems for customers, including the US military and NASA. Founded in 1906 in Wabash, Indiana, its headquarters are now in Charlotte, North Carolina.
By 2022, Honeywell ranked 105th among Fortune 500 companies, with a market cap of $125.91 billion. The company employs about 99,000 people across 70 countries and reported $34.39 billion in revenue for the year. Key subsidiaries include Honeywell Aerospace, Intermec, UOP LLC, and RAE Systems.
4. Lockheed Martin Corporation
Lockheed Martin, founded in 1995, is a prominent American company in aerospace, defense, security, and technology. The merger of Lockheed (established 1926) and Martin Marietta (established 1961) formed this significant entity. Headquartered in Bethesda, Maryland, it remains a leading force in defense.
Lockheed Martin ranks 55th on the Fortune 500 list, with a market capitalization of $67.04 billion as of early 2021 and over 114,000 employees. It collaborates with various US military branches and nations worldwide. Notable creations include the Black Hawk, C-130, and F-series combat aircraft.
5. Union Pacific Railroad Company
Union Pacific Railroad, established in 1862, is an American freight company based in Omaha, Nebraska. It ranks as North America’s largest railroad operator by revenue, which hit $21.804 billion in early 2021. With a market capitalization of $161.95 billion, it boasts the largest network, covering 51,683 miles across 23 states.
Union Pacific Railroad runs 32,200 locomotives and has over 32,000 employees. As of 2021, it operates 12 main hump yards across the U.S. The company also owns some of the nation’s most powerful locomotives.
6. Boeing
Boeing, founded in 1916, is a leading American aerospace company based in Arlington, Virginia. The company designs, manufactures, and sells aircraft, rockets, rotorcraft, satellites, telecommunications equipment, and missiles globally. Boeing is one of the top aircraft manufacturers by both revenue and deliveries.
By 2022, Boeing stands at 60th place on the Fortune 500 list, boasting a market cap of $62.29 billion and over 140,000 employees. Innovative throughout its history, Boeing has crafted some of the most iconic aircraft, including the 737, 747, and 787 Dreamliner.
Boeing is the third-largest military contractor globally, contracted by various militaries to produce fighter planes.
7. Ford Motor Company
Ford Motor Company, founded in 1903 by Henry Ford, is an American multinational automaker based in Dearborn, Michigan. The company manufactures and distributes vehicles globally. Their commercial vehicles are sold under the Ford brand, and their luxury vehicles under the Lincoln name.
As of 2022, Ford ranks 22nd on the Fortune 500 list with a market capitalization of $60.95 billion and over 186,000 employees. Ford produced 4.2 million vehicles in 2022. The company has stakes in Mazda (Japan), Aston Martin (UK), Jiangling Motors (China), and Troller (Brazil).
8. 3M
3M is an American multinational corporation founded in 1902 and headquartered in Maplewood, Minnesota. The company produces over 60,000 products and operates in more than 200 countries, serving nearly every industry. Their main sectors include industrial and transportation, health care, safety and security, and consumer goods.
3M ranks 402nd on the Fortune 500 list and has a market capitalization of $69.29 billion as of 2022, employing over 93,000 people. They produce popular items like Post-it notes, Scotch tape, Command strips, adhesives, and abrasives.
9. McKesson Corporation
McKesson Corporation, founded in 1833, is a leading American pharmaceutical and medical devices distributor. The company also develops health information technology and care management tools. Based in Irving, Texas, it supplies one-third of all pharmaceuticals used in North America, making it one of the oldest active companies in the USA.
As of 2022, McKesson ranks 9th on the Fortune 500 list with a market value of $52.29 billion. In 2020, revenue reached $231.051 billion. McKesson’s subsidiaries include Rexall, Health Mart, McKesson Europe (76%), and Uniprix. By 2020, the company employed about 80,000 people and operated in 9 countries.
10. General Motors
General Motors Company (GM) is an American multinational corporation based in Detroit, Michigan. Founded in 1908 by William C. Durant and two others, GM designs, manufactures, markets, and distributes vehicles and parts. As of 2020, it employs over 157,000 people with a market cap of $56.09 billion.
GM, the second-largest automaker globally, produced 6,829,000 vehicles and generated $127.004 billion in revenue in 2020. For 70 years, it was the leading vehicle manufacturer before Toyota Motors took the top spot. GM owns other automotive brands, including Chevrolet, Buick, Cadillac, and GMC.