GE Aerospace (GE +0.15%) is the largest industrials company, followed by Caterpillar (CAT +0.05%) and RTX (RTX +0.50%). Aerospace and defense companies are well-represented at the top of the industrials sector. The top 10 also includes electrical equipment companies.
Largest companies by market cap in the industrials sector
(Editor's note: Rankings are as of Dec. 2, 2025.)
| Name and ticker | Market cap | Current price | Industry |
|---|---|---|---|
| GE Aerospace (NYSE:GE) | $332.8 billion | $315.99 | Aerospace and Defense |
| Caterpillar (NYSE:CAT) | $272.6 billion | $582.72 | Machinery |
| RTX (NYSE:RTX) | $249.1 billion | $186.72 | Aerospace and Defense |
| Siemens Aktiengesellschaft (OTC:SIEGY) | $218.3 billion | $139.66 | Industrial Conglomerates |
| Airbus SE (OTC:EADSY) | $182.9 billion | $57.63 | Aerospace and Defense |
| Boeing (NYSE:BA) | $169.8 billion | $217.96 | Aerospace and Defense |
| Schneider Electric S.e. (OTC:SBGSF) | $155.6 billion | $277.28 | Electrical Equipment |
| Safran (OTC:SAFRY) | $146.8 billion | $88.28 | Aerospace and Defense |
| Hitachi (OTC:HTHIF) | $145.1 billion | $32.83 | Industrial Conglomerates |
| Union Pacific (NYSE:UNP) | $138.9 billion | $234.70 | Road and Rail |
1. GE Aerospace
NYSE: GE
Key Data Points
- Market cap: $306.81 billion (as of Dec. 2)
- Revenue (TTM): $43.9 billion
- Gross profit (TTM): $16.6 billion
- Five-year annualized return: 41.54%
- Year founded: 1917 (General Electric), 2024 (General Electric Company)
General Electric used to have several divisions, but after revenue fell during the COVID-19 pandemic, the company split into three: GE Aerospace, GE Vernova (GEV +1.04%), and GE HealthCare Technologies (GEHC +0.02%).
GE Aerospace manufactures jet engines and other aerospace technology and also provides maintenance, repair, and overhaul services for aerospace equipment.
2. Caterpillar
NYSE: CAT
Key Data Points
- Market cap: $272.88 billion (as of Dec. 2)
- Revenue (TTM): $64.7 billion
- Gross profit (TTM): $21.6 billion
- Five-year annualized return: 29.15%
- Year founded: 1925
Caterpillar is a heavy equipment company that manufactures construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Through its global dealer network, Caterpillar does business on every continent.
This manufacturing company has also expanded its offerings over the years. It licensed its brand name for a line of clothing and boots, and it provides financing services through Cat Financial.
Tariffs have heavily affected Caterpillar's business. It's expecting tariff costs of as much as $1.8 billion in 2025. However, a federal appeals court ruled that many of the Trump administration's import tariffs are illegal; the U.S. Supreme Court was considering their status in early December 2025.
3. RTX
NYSE: RTX
Key Data Points
- Market cap: $226.32 billion (as of Dec. 2)
- Revenue (TTM): $86.0 billion
- Gross profit (TTM): $17.3 billion
- Five-year annualized return: 20.90%
- Year founded: 1922 (Raytheon Company), 1934 (United Aircraft Corporation), 2020 (Raytheon Technologies Corporation), 2023 (RTX Corporation)
RTX is the aerospace and defense company formed by the 2020 merger of United Technologies and Raytheon. It has three business segments: Pratt & Whitney, Collins Aerospace, and Raytheon. This company manufactures aircraft engines for commercial and military use. It also supplies flight systems, communications solutions, space operations support, and defense systems.
In June 2025, the U.S. Navy awarded RTX a $1.1 billion contract to produce AIM-9X Block II missiles, the largest contract awarded for that missile program. The U.S. Department of Defense has also awarded RTX a $50 billion umbrella contract in a 20-year agreement to support the Patriot missile defense system, and the Pentagon has awarded Raytheon a $5 billion contract for its Coyote missile system.
4. Siemens AG
OTC: SIEGY
Key Data Points
OTC: EADSY
Key Data Points
- Market cap: $178.41 billion (as of Dec. 2)
- Revenue (TTM): $83.9 billion
- Gross profit (TTM): $13.0 billion
- Five-year annualized return: 16.67%
- Year founded: 1970
Airbus is the world's top airplane manufacturer as of 2025. Commercial aircraft are its main business. It also provides products and services for the helicopter, defense, and space sectors. This aircraft company has an extensive global network, with operations spanning more than 180 locations worldwide.
6. Boeing
NYSE: BA
Key Data Points
- Market cap: $156.11 billion (as of Dec. 2)
- Revenue (TTM): $80.8 billion
- Gross profit (TTM): $888.0 million
- Five-year annualized return: -3.59%
- Year founded: 1916 (Pacific Aero Products Company), 1917 (Boeing Airplane Company)
Boeing manufactures commercial aircraft and provides aerospace services, including training and technical support. It's also one of the largest defense and space contractors, providing military aircraft, weapons systems, and satellites.
Boeing has dealt with some high-profile issues in recent years. Two crashes involving the Boeing 737 MAX (in 2018 and 2019) led to the plane being temporarily grounded. In 2024, Boeing machinists went on strike for seven weeks. This was followed by a strike involving more than 3,000 Boeing defense workers in August 2025.
On a positive note, Boeing secured a $2.8 billion contract in July 2025 to build two nuclear command, control, and communications (NC3) satellites for the U.S. Department of Defense.
7. Schneider Electric
OTC: SBGSF
Key Data Points
- Market cap: $151.34 billion (as of Dec. 2)
- Revenue (TTM): $45.7 billion
- Gross profit (TTM): $19.3 billion
- Five-year annualized return: 16.80%
- Year founded: 1836
French company Schneider Electric provides energy management and digital automation solutions. It's responsible for many major innovations, including France's first steam locomotives.
Schneider Electric operates in more than 100 countries. In March 2025, the company announced plans to invest more than $700 million in U.S. operations through 2027.
8. Safran
OTC: SAFRY
Key Data Points
- Market cap: $141.03 billion (as of Dec. 2)
- Revenue (TTM): $34.2 billion*
- Gross profit (TTM): $16.7 billion*
- Five-year annualized return: 18.49%
- Year founded: 2005
*Converted from Euros.
Safran is an aerospace and defense company headquartered in Paris, France, and with a market presence in 27 countries. It designs and manufactures engines for commercial and military aircraft, as well as aircraft equipment and interiors.
9. Hitachi
OTC: HTHIF
Key Data Points
- Market cap: $138.65 billion (as of Dec. 2)
- Revenue (TTM): $64.4 billion*
- Gross profit (TTM): $19.0 billion*
- Five-year annualized return: 34.22%
- Year founded: 1910
*Converted from Japanese yen.
Hitachi is a Japanese technology conglomerate with more than 280,000 employees worldwide. It provides products and solutions across several industries that include information technology, energy, mobility, healthcare, and industrials.
10. Union Pacific
NYSE: UNP
Key Data Points
- Market cap: $137.76 billion (as of Dec. 2)
- Revenue (TTM): $24.5 billion
- Gross profit (TTM): $11.3 billion
- Five-year annualized return: 4.79%
- Year founded: 1969
Union Pacific Corporation is one of the largest U.S. railroad operators. This holding company has acquired numerous railroad companies and folded them into its only subsidiary, Union Pacific Railroad. It now has a network stretching across 23 states and over 32,000 miles, and it transports bulk freight, industrial freight, and premium freight.
Related investing topics
Industrials sector takeaways for investors
The largest industrial companies have performed well lately. Eight of the top 10 had done better than the S&P 500 over the five-year period ending in December 2025. Still, when investing in industrial stocks, it's important to evaluate a company's financials, its recent track record, and any potential headwinds.
It's worth noting that industrial companies are cyclical businesses -- they generally do well when the economy is strong but are often hit hard during downturns. Some industrial companies are less vulnerable than others, though. Defense contractors with government contracts are often better equipped to handle periods of economic uncertainty.
If they remain in place, the Trump administration's import tariffs also pose a potential problem for industrial companies. Supply chain disruptions and currency fluctuations can cut into profits for businesses in this market sector. But considering how essential industrial companies are to the economy, it makes sense to have some in an investment portfolio.
About the Author
