Defense contractor Lockheed Martin has been making good use of its dozen or so facilities spread across Florida.
The Bethesda, Maryland, aerospace and defense giant recorded $6.3 billion in military contracting work in the Sunshine State in 2021, according to a new report from 24/7 Wall Street and Florida news site The Center Square. That’s about 10% of the $67 billion in total revenue the company posted in 2021. Lockheed Martin, with 115,000 employees worldwide, operates Florida facilities from Juno Beach to Destin, with four in the Tampa/Lakeland area.
And in Florida, Lockheed Martin is the clear leader in winning military work over its peers and competitors. The $6.3 billion figure represents 29.1% of all military contracting in the state, The Center Square reports. Other companies with hefty government contracting work in the state include Abbott Laboratories, Northrop Grumman and Melbourne-based L3Harris Technologies. In total, the Pentagon spent $21.7 billion on private sector contracts in Florida in 2021, The Center Square reports
The Defense Department does more business through private contracts than all other federal agencies combined, the report found. The Pentagon relies on contractors for services including research and development, weapon systems procurement, facility maintenance and equipment repair.
Florida’s $21.7 billion in military contracts in 2021 places it No. 5 nationally, behind Virginia, California, Texas and New York. Other states with more than $15 billion in military contracts in 2021 include Massachusetts, Connecticut and Maryland.