---
title: "Northrop Grumman: Business Model"
description: "Northrop Grumman revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/northrop-grumman/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Northrop Grumman: Business Model & Revenue Engine

## Direct Answer

Northrop Grumman reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Aeronautics Systems is the largest, with $13.0 billion of revenue (31% of the total), followed by Mission Systems at $12.5 billion (30%). 86% of revenue came from the United States.

## How Does Northrop Grumman Make Money?

No single line supplies a majority of revenue: the largest, Aeronautics Systems, is 31%, which spreads Northrop Grumman's exposure across several demand drivers. Between fiscal 2024 and 2025, Mission Systems grew fastest (+9.7%) and Space Systems slowest (-8.2%), so the revenue mix tilts toward Mission Systems while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Aeronautics Systems | $13.0 billion | $12.4 billion | 31.0% | 4.8% |
| Mission Systems | $12.5 billion | $11.4 billion | 29.8% | 9.7% |
| Space Systems | $10.8 billion | $11.7 billion | 25.7% | -8.2% |
| Defense Systems | $8.0 billion | $7.4 billion | 19.1% | 8.1% |

![Bar chart of Northrop Grumman revenue by segment for fiscal 2025: Aeronautics Systems 31.0%, Mission Systems 29.8%, Space Systems 25.7%, Defense Systems 19.1%.](https://www.getswoopr.com/images/charts/northrop-grumman-business-model-segment-mix.webp)
*Northrop Grumman revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Which Northrop Grumman Segments Earn the Most?

| Segment | FY2025 segment operating income | Segment margin |
| --- | --- | --- |
| Aeronautics Systems | $813 million | 6.3% |
| Mission Systems | $1.8 billion | 14.6% |
| Space Systems | $1.2 billion | 11.0% |
| Defense Systems | $871 million | 10.9% |

Segment operating income is the profit measure Northrop Grumman reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Northrop Grumman more safely than against another company.

## What Does Northrop Grumman Sell?

Northrop Grumman also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.

| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Product | $33.7 billion | $32.7 billion | 80.4% | 3.1% |
| Service | $8.2 billion | $8.3 billion | 19.6% | -1.1% |

## Where Does Northrop Grumman's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $36.0 billion | $36.0 billion | 85.7% | -0.2% |
| Europe | $3.3 billion | $2.8 billion | 7.8% | 15.8% |
| Asia Pacific | $1.9 billion | $1.6 billion | 4.6% | 23.6% |
| All Other Geographic Region | $785 million | $611 million | 1.9% | 28.5% |

## What the Segment Figures Do Not Show

The rows above add up to 106% of Northrop Grumman's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Northrop Grumman reported in the segment note and revenue disclosures of its Form 10-K filed January 27, 2026 (accession 0001133421-26-000003), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Northrop Grumman's business segments?

In its fiscal 2025 Form 10-K, Northrop Grumman reports revenue for Aeronautics Systems, Mission Systems, Space Systems and Defense Systems.

### Which part of Northrop Grumman brings in the most revenue?

Aeronautics Systems, with $13.0 billion of revenue in fiscal 2025, or 31% of the total.

### How much of Northrop Grumman's revenue comes from outside the United States?

14% in fiscal 2025, by the geographic breakdown Northrop Grumman reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: NORTHROP GRUMMAN CORP /DE/ Form 10-K filed January 27, 2026](https://www.sec.gov/Archives/edgar/data/1133421/000113342126000003/noc-20251231.htm)
- [SEC EDGAR: NORTHROP GRUMMAN CORP /DE/ annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1133421&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

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**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).