Lockheed Martin (NYSE: LMT), Boeing (NYSE: BA) and Raytheon Technologies (NYSE: RTX) received the most money through Department of Defense contracts during the government’s 2021 fiscal year, according to data from the Pentagon’s Office of Local Defense Community Cooperation.
The “Fiscal Year 2021 Defense Spending by State” report, released Thursday, shows that Lockheed secured awards totaling $39.2 billion, followed by Boeing with $23.6 billion and Raytheon with $21.4 billion.
General Dynamics (NYSE: GD), Northrop Grumman (NYSE: NOC), Pfizer, L3Harris Technologies (NYSE: LHX), Humana, HII (NYSE: HII) and Moderna were also included in the list of top defense contract recipients for the past year.
Pharmaceutical companies Pfizer and Moderna made their debut in the ranking due to pandemic-related spending, including the purchase of vaccines and treatment services.
The amount DOD spent on contracts and payroll in the 50 states and the District of Columbia during FY 2021 fell 5.6 percent, or $34.9 billion, from the prior year, which the department attributed to a 9.2 percent decrease in contract obligations.
Overall, the Pentagon’s 2021 contract and payroll spending was $559 billion, which accounted for 2.3 percent of the U.S. gross domestic product.