Top 10 manufacturing companies in the U.S.
The U.S. manufacturing sector represents over 18.2% of the world’s total goods every year, being one of the greatest contributors to the U.S.’ employment, GDP and overall economic development.
The most successful companies in the sector are expected to expand their market share and pioneer in innovation, as the global consumption for manufacturing goods rises annually.
We analysed the top 10 largest manufacturing companies in the U.S. according to Industry Week, ranked by performance in 2017.
10 | Microsoft Corp.
A well-known multinational software and technology company, Microsoft has been leading the personal computer operating system market since the mid-1980s, when it launched the MS-DOS system. It develops, manufactures, licenses, supports and sells computer software and consumer electronics, together with personal computers and services.
Microsoft’s main products include operating systems, cross-device productivity, server and business solution applications, desktop and server management tools together with software development tools, video games, computers, tablets, gaming and entertainment consoles, phones and other smart devices.
Founded in 1975 by Bill Gates and Paul Allen in New Mexico, Satya Nadella its current CEO, led the company to generate $89,950mn in revenue in 2017, creating a 5.43% revenue growth and a profit margin of 23.57% compared to 2016.
9 | Boeing Co.
It is the world’s largest aerospace company and leading manufacturer of commercial jetliners, defence, space and security systems. As the U.S.’ biggest manufacturing exporter, Boeing’s products and tailored services include commercial and military aircraft, satellites, weapons, and a diverse range of systems including electronic, defence, launch, advanced information and communication systems. It also offers performance-based logistics and training in 150 countries for airlines and U.S. government customers.
Boeing has recently agreed a $805 mn deal with the U.S. Navy for its MQ-25 aircraft, contributing to its already solid earnings of $93,392 mn in 2017.
8 | Valero Energy Corp.
Valero Energy is an international manufacturer and marketer of transportation fuels and other petrochemical and coal products based in San Antonio, Texas. It has been listed 31st in Fortune 500 (2018).
Its main activity as an independent petroleum refiner and ethanol producer generates a combined throughput capacity of approximately 3.1mn barrels per day of petroleum and a combined production capacity of approximately 1.45bn gallons per year of ethanol in the U.S., Canada and the United Kingdom.
Valero targets both wholesale and bulk markets with approximately 10,000 employees in 7,400 outlets in the U.S., Canada, the U.K. and Ireland, which generated a revenue of $93,980mn and a revenue growth of 24.22% last year.
7 | Phillips 66
The second of the multinational energy manufacturers to appear in the ranking. A diversified energy manufacturing and logistics company headquartered in Houston (Texas), its main activity focuses in refining, midstream, chemicals, marketing and specialties with over 14,500 employees worldwide.
Founded in 1917 by the Phillips brothers, chemists Paul Hogan and Robert Banks invented the polyethylene plastic for the company in 1951. This material – branded as Marlex – became worldly known when toy company Wham-O started to use it to make the Hula Hoop in the 1950s. In 2017, Phillips 66 achieved $104,622mn in revenue.
6 | General Electric Co.
GE is one of the largest manufacturing companies globally, targeting aviation, healthcare, power, renewable energy, digital, additive manufacturing, venture capital, finance, lighting, transportation, and oil and gas.
A Bostonian company, it made its largest-ever industrial acquisition in 2015 by buying French company Alstom's power and grid unit. In 2017, GE generated a $122,092mn in revenue, registering a negative revenue growth of -1.29% because of which the company plans to reshape its portfolio and develop spin-offs.
5 | Chevron Corp.
American multinational energy corporation managing large sales numbers, it produces and transports crude oil and natural gas, and also refines, markets, and distributes fuels. It is also involved in chemical and mining operations, power generation, and energy services in more than 180 countries.
Its history goes back to Standard Oil – nowadays transformed into Chevron Corporation and Exxon Mobil Corporation, among other companies – founded by John D. Rockefeller and Henry Flagler in 1870, the largest oil company at its time. Headquartered in San Ramon (California), Chevron generated $141,722mn in revenues and a 23.80% revenue growth in 2017.
4 | General Motors Co.
General Motors is one the largest automotive manufacturers globally, developing operations in more than 35 countries around the globe.
Its corporate structure diversifies into four manufacturing subsidiaries, GMC, Buick, Cadillac, and Chevrolet – producing iconic cars such as the 1964 Pontiac GTO, the 1963 Chevrolet Corvette, the 1959 Cadillac Eldorado or the 1957 Chevrolet Bel-Air, models that have topped the charts of best-selling cars in the U.S. for decades.
The company employs over 180,000 people at 400 facilities around the world, manufactures around 9mn vehicles every year and generated $145,588mn in revenue as of 2017. From its headquarters in Detroit – the centre of the U.S. automobile industry – it is fully immersed in the electric-car design.
3 | Ford Motor Co.
Founded in 1903 by Henry Ford, the company revolutionised the global automotive sector and manufacturing processes by mass producing its first car, the Ford Model T. The integrated assembly line, located at the first Ford factory in Michigan, became a model for modern mass production methods and consumption worldwide.
The manufacturing system reflected this philosophy: Henry Ford’s aim was to make vehicles accessible for the general public – to “put the world on wheels”. Together with his engineers, he invented machines to mass-produce the car parts needed in the production and designed methods to assemble them as soon as they were made, and sped up the manufacturing process by dividing the production into appointed stations.
Ford produces around 6.7mn cars and employs 200,000 collaborators as of 2018, owning more than 90 manufacturing plants across the globe. It generated $7,602mn revenue in 2017, with a revenue growth of 3.28%, which granted it 11th place in Fortune 500 (2018).
2 | Apple Inc.
The famous Californian technology company recently passed the $1trn market capitalisation mark, propelled by the launch of the new models of iPhone.
Apple develops and sells consumer electronics, computer software and online services, possibly including augmented reality in its devices in the near future. The intense design research and development carried out by the company has played a key role in the history of worldwide technology, especially in the mass production and consumption of smartphones and personal devices.
Created in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne, Apple made $229,234mn in revenue in 2017, with a revenue growth of 6.30%.
1 | Exxon Mobil Corp.
Exxon Mobil is the largest publicly traded international oil and gas company, with the largest market cap in its sector.
It mainly engages in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacturing, transportation and sale of petroleum products. It also manufactures and markets commodity petrochemicals including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products.
Before the downturn in the oil market – which began almost four years ago – the company generated 90% of its earnings from its upstream segment, shifting to 57% upstream, 24% downstream (mostly refining) and 19% chemicals segment as for 2017.
That year, Exxon Mobil made $244,363mn in revenue with a revenue growth of 8.08%, topping the ranking of Top 10 manufacturers in the U.S.