A Bloomberg Government report says the federal government’s total contract spending reached $682 billion in fiscal year 2020 , a 14 percent increase from FY 2019 spending of $599 billion.
BGOV said Thursday FY 2020 marks the fifth consecutive year of increase in contract spending and federal agencies primarily used $1.6 trillion in enacted FY 2020 discretionary budget to fund government contracts.
The BGOV200 report showed that the top 200 government contractors accounted for 65 percent of the total contract obligations in FY 2020 and 98 contractors improved their rankings.
According to the report, the top 10 federal contractors based on FY 2020 data for prime, unclassified government contracts are Lockheed Martin (NYSE: LMT), Raytheon Technologies (NYSE: RTX), General Dynamics (NYSE: GD), Boeing (NYSE: BA), Northrop Grumman (NYSE: NOC), Analytic Services, McKesson (NYSE: MCK), Leidos (NYSE: LDOS), TriWest Healthcare Alliance and Huntington Ingalls Industries (NYSE: HII).
BGOV predicts federal contract obligations to reach $600 billion to $695 billion in FY 2021 and forecasts facilities and construction, professional services and information technology markets to witness continued growth this fiscal year.
The Army has released the FRAM II solicitation for aviation maintenance and logistics support at Fort Rucker Requirement covers maintenance…
CBP is planning a new working group focused on automation and long-term systems sustainment The working group will evaluate surveillance…
Govini has named retired Air Force Lt. Gen. Tom Miller senior adviser The former Air Force logistics deputy chief will…
Sabel Systems has added retired Air Force Col. Robert Epstein to its executive leadership team Epstein will help shape strategy…
The Air Force has awarded 19 positions on a $4 billion base operations support IDIQ The contract covers support across…
CACI executive DeEtte Gray will retire after nearly a decade with the company The former BAE Systems leader will remain…
Sherpa 6 has landed a $239.6 million Army contract focused on chemical and biological defense The award will support efforts…
Quantum Space has agreed to go public through a $1.2 billion SPAC merger with Inflection Point Acquisition Corp. VI The…
USCIS has disclosed plans for a potential $100 million biometrics and identity IT support contract The requirement will be competed…
TechnoMile has named Mark McNeely to its board of advisers McNeely most recently served as chief administrative officer at AV…
Palo Alto Networks has acquired Portkey to strengthen the Prisma AIRS AI security platform The Portkey technology will provide centralized…
Karman Space & Defense has created a new executive role to unify its IT operations and AI strategy Stefan Knighton…
You’ve already read all related articles.
VIDEO 
