Well of course they favor one over the other. (Disclaimer ahead). I'm a vet and applied for a job where the guy found out I had been in the Navy, said he had too and bingo! Got the job.
Ok, ok, ok. I did meet most all of their requirements for the job, but I'm pretty sure it tipped the scale.
Disclaimer....it would have likely worked just as well if we'd served in different branches. So, I'd vote too for being a vet from any branch is equally respected. Vets get a leg up with most employers because they have proven to be dependable and reliable and adaptable. If you are considering even a short term career in the military (say 2 years active and 4 in reserves) you will come away with the same credentials. Good luck.