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 White House has announced over $6 billion in science initiatives, including $2.4 billion for the Genesis Mission Consortium.
Monahan joins HawkEye 360 from Lockheed Martin, where he led space protection programs.
OceanSound-owned ARA provides antennas and RF subsystems for defense, while Empower RF offers high-power solid-state RF amplifiers.
The Navy award runs through 2031 and the Air Force contract succeeds EY’s 2022 deal.
The satellite constellation builder has added a former Lyft executive and a Georgetown AI researcher as it ramps production.
Loyal Source Government Services CGO Heath Starr has been named chief revenue officer to lead its new four-division operating model.
Everfox CEO David Wajsgras has outlined the company's cross-domain and insider risk capabilities and its plans to pursue acquisitions.
Danny Deep has spent 25 years at General Dynamics and previously led its global operations and combat systems businesses.
DARPA has advanced Atom Computing, Diraq, IBM and IonQ to Stage C of its Quantum Benchmarking Initiative to test utility-scale…
Klapacz joins Oddball as the company shifts toward larger federal competitions.
Marion Kennedy, former senior VP at LMI, has joined Concurrent Technologies Corp. as vice president of digital mission solutions.
Yigit Guney, CLEATUS co-founder and a GovCon Expert, explains how capture teams can convert procurement forecasts into capture plans.
You’ve already read all related articles.
VIDEO 
