Deltek has released results of a federal government contracting survey that indicates that vendors forecast a 14-percent increase in revenue for the second quarter of fiscal year 2014, FCW reported Tuesday.
Adam Mazmanian writes federal contract spending for the second quarter was 58 percent up from the same period in fiscal 2013.
“The pressure is kind of off a little bit because the economy has improved and tax revenues have improved, ” Kevin Plexico, vice president of information solutions at Deltek, told the publication.
Plexico spoke to our sister site ExecutiveBiz last year to discuss the post-sequestration environment for contractors and potential opportunities for GovCon firms.
FCW reports solicitations and task orders rose by 54 percent in 2014.
Mazmanian writes the Bipartisan Budget Act authored by Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.) would also contribute to increases in fiscal 2015 discretionary spending.
Plexico told FCW that defense information technology spending could climb in 2015 as the government shifts its focus on cybersecurity and intelligence capabilities.