Special Report
Companies You Didn't Know Were Military Contractors
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With nearly 3 million people on the payroll, the U.S. government is by far the largest employer in the country. Despite the size of its workforce, the federal government also relies extensively on private sector contractors to provide it with products and services. According to the Government Accountability Office, total federal contract spending topped $694 billion in fiscal 2022 — and well over half of that amount came from the Department of Defense.
Through contracts with the Pentagon, many well-known weapons developers and manufacturers — including Lockheed Martin, Raytheon, and General Dynamics — bring in tens of billions of dollars every year. (These are America’s 30 future weapons with multi-billion dollar R&D budgets.)
But while arms makers are typically the largest recipients of Defense Department spending, the DOD also relies extensively on companies not commonly associated with national security.
Using data from the Defense Department’s report, Defense Spending By State Fiscal Year 2022, 24/7 Wall St. identified the most surprising companies with the largest DOD contracts. We only considered companies without major arms manufacturing divisions and that are likely recognizable to many American civilians for businesses unrelated to military matters. Companies are ranked on the total value of domestic contracts with DOD in the government’s 2022 fiscal year. For publicly traded companies, data on total revenue for the 2022 corporate fiscal year is from financial documents filed with the Securities and Exchange Commission.
The 26 companies on this list received anywhere from $446 million to nearly $17 billion from the Department of Defense in 2022. The companies and organizations on this list span multiple industries, including energy, financial services, technology, and education. Many are best known for products and services many Americans use on a regular basis — whether when filling up at the pump, shipping a package, or using household appliances.
The majority of these companies, however, are in the health care sector. They include insurance providers, drugmakers, and medical device manufacturers. Pfizer, one of the leading manufacturers of the COVID-19 vaccine, is also one of the largest corporate recipients of DOD spending, partially because vaccinations were mandated for members of the military in 2022. (Here is a look at U.S. military spending every year since 1970.)
Here are companies you didn’t know were military contractors.
26. FedEx
- > Revenue from domestic DOD contracts in FY2022: $446.7 million
- > Total revenue in FY2022: $94.0 billion (0.5% from the DOD)
- > Industry: Integrated freight and logistics
- > State(s) with company operations receiving DOD funding: Illinois, Tennessee
25. Johns Hopkins Health System Corp.
- > Revenue from domestic DOD contracts in FY2022: $455.7 million
- > Total revenue in FY2022: N/A
- > Industry: Healthcare
- > State(s) with company operations receiving DOD funding: Maryland
24. KPS Capital Partners, LP
- > Revenue from domestic DOD contracts in FY2022: $479.1 million
- > Total revenue in FY2022: N/A
- > Industry: Private equity
- > State(s) with company operations receiving DOD funding: Indiana
23. Highmark, Inc.
- > Revenue from domestic DOD contracts in FY2022: $504.9 million
- > Total revenue in FY2022: N/A
- > Industry: Healthcare plans
- > State(s) with company operations receiving DOD funding: Pennsylvania
22. Petromax Refining Co.
- > Revenue from domestic DOD contracts in FY2022: $536.1 million
- > Total revenue in FY2022: N/A
- > Industry: Oil and gas refining and distribution
- > State(s) with company operations receiving DOD funding: Texas
21. Georgia Tech Research Corp.
- > Revenue from domestic DOD contracts in FY2022: $557.1 million
- > Total revenue in FY2022: N/A
- > Industry: Contracting and research administration services
- > State(s) with company operations receiving DOD funding: Georgia
20. Foundation Medicine, Inc.
- > Revenue from domestic DOD contracts in FY2022: $579.1 million
- > Total revenue in FY2022: N/A
- > Industry: Healthcare product manufacturing
- > State(s) with company operations receiving DOD funding: Indiana
19. Siemens AG
- > Revenue from domestic DOD contracts in FY2022: $651.3 million
- > Total revenue in FY2022: $72.0 billion (0.9% from the DOD)
- > Industry: Specialty industrial machinery
- > State(s) with company operations receiving DOD funding: Pennsylvania
18. Accredo Health Group, Inc.
- > Revenue from domestic DOD contracts in FY2022: $737.9 million
- > Total revenue in FY2022: N/A
- > Industry: Pharmacy services
- > State(s) with company operations receiving DOD funding: Missouri
17. Dell
- > Revenue from domestic DOD contracts in FY2022: $762.4 million
- > Total revenue in FY2022: $101.0 billion (0.8% from the DOD)
- > Industry: Computer hardware manufacturing
- > State(s) with company operations receiving DOD funding: Texas
16. Merck Group
- > Revenue from domestic DOD contracts in FY2022: $997.0 million
- > Total revenue in FY2022: $59.0 billion (1.7% from the DOD)
- > Industry: Drug manufacturing
- > State(s) with company operations receiving DOD funding: New Jersey
15. Massachusetts Institute of Technology
- > Revenue from domestic DOD contracts in FY2022: $1.1 billion
- > Total revenue in FY2022: N/A
- > Industry: Higher education
- > State(s) with company operations receiving DOD funding: Massachusetts
14. Johns Hopkins University
- > Revenue from domestic DOD contracts in FY2022: $1.2 billion
- > Total revenue in FY2022: N/A
- > Industry: Higher education
- > State(s) with company operations receiving DOD funding: Maryland
13. Valero Energy
- > Revenue from domestic DOD contracts in FY2022: $1.4 billion
- > Total revenue in FY2022: $176.0 billion (0.8% from the DOD)
- > Industry: Oil and gas refining and marketing
- > State(s) with company operations receiving DOD funding: Texas
12. GlaxoSmithKline
- > Revenue from domestic DOD contracts in FY2022: $1.6 billion
- > Total revenue in FY2022: $33.0 billion (5.0% from the DOD)
- > Industry: Drug manufacturing
- > State(s) with company operations receiving DOD funding: North Carolina
11. BP
- > Revenue from domestic DOD contracts in FY2022: $1.7 billion
- > Total revenue in FY2022: $241.0 billion (0.7% from the DOD)
- > Industry: Oil and gas integrated
- > State(s) with company operations receiving DOD funding: Illinois
10. iHealth Labs, Inc.
- > Revenue from domestic DOD contracts in FY2022: $1.8 billion
- > Total revenue in FY2022: N/A
- > Industry: Healthcare product manufacturing
- > State(s) with company operations receiving DOD funding: California
9. Moderna, Inc.
- > Revenue from domestic DOD contracts in FY2022: $1.8 billion
- > Total revenue in FY2022: $19.0 billion (9.6% from the DOD)
- > Industry: Biotechnology
- > State(s) with company operations receiving DOD funding: Massachusetts
8. Abbott Laboratories
- > Revenue from domestic DOD contracts in FY2022: $1.9 billion
- > Total revenue in FY2022: $44.0 billion (4.3% from the DOD)
- > Industry: Medical devices
- > State(s) with company operations receiving DOD funding: Florida
7. AmerisourceBergen (Cencora)
- > Revenue from domestic DOD contracts in FY2022: $2.0 billion
- > Total revenue in FY2022: $239.0 billion (0.8% from the DOD)
- > Industry: Medical distribution
- > State(s) with company operations receiving DOD funding: Pennsylvania
6. General Electric
- > Revenue from domestic DOD contracts in FY2022: $2.4 billion
- > Total revenue in FY2022: $58.0 billion (4.1% from the DOD)
- > Industry: Specialty industrial machinery
- > State(s) with company operations receiving DOD funding: Kansas, Massachusetts, Ohio, and Wisconsin
5. Eli Lilly and Co.
- > Revenue from domestic DOD contracts in FY2022: $2.8 billion
- > Total revenue in FY2022: $29.0 billion (9.6% from the DOD)
- > Industry: Drug manufacturing
- > State(s) with company operations receiving DOD funding: Indiana
4. McKesson
- > Revenue from domestic DOD contracts in FY2022: $2.9 billion
- > Total revenue in FY2022: $264.0 billion (1.1% from the DOD)
- > Industry: Medical distribution
- > State(s) with company operations receiving DOD funding: Texas
3. Centene Corp.
- > Revenue from domestic DOD contracts in FY2022: $3.5 billion
- > Total revenue in FY2022: $145.0 billion (2.4% from the DOD)
- > Industry: Healthcare plans
- > State(s) with company operations receiving DOD funding: California
2. Humana
- > Revenue from domestic DOD contracts in FY2022: $7.7 billion
- > Total revenue in FY2022: $93.0 billion (8.3% from the DOD)
- > Industry: Healthcare plans
- > State(s) with company operations receiving DOD funding: Kentucky
1. Pfizer, Inc.
- > Revenue from domestic DOD contracts in FY2022: $16.7 billion
- > Total revenue in FY2022: $100.0 billion (16.6% from the DOD)
- > Industry: Drug manufacturing
- > State(s) with company operations receiving DOD funding: New York
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