Tag Archives: contract obligation

A state-by-state analysis of Department of Defense spending showed Lockheed Martin (NYSE: LMT), Boeing (NYSE: BA) and Northrop Grumman (NYSE: NOC) took the first three spots on a list of top 10 contract awardees during fiscal year 2019. The list also includes General Dynamics (NYSE: GD), BAE Systems, Huntington Ingalls Industries (NYSE: HII), Humana (NYSE: HUM), L3 Technologies, which now operates as L3Harris Technologies (NYSE: LHX) after it merged with Harris, Raytheon and United Technologies Corp. Raytheon and UTC merged in April 2020 and the combined entity now runs as Raytheon Technologies (NYSE: RTX).

The U.S. Navy has issued a new solicitation to expand the current of pool of vendors competing for task orders under the potential 10-year, $50B SeaPort Next Generation contract vehicle for professional services. The service has launched a rolling admissions process for the SeaPort NxG indefinite-delivery/indefinite-quantity contract and will accept proposals from new companies through Feb. 12.

Federal contract spending reached $681B in fiscal year 2020 driven by budget increases for agencies within the Department of Defense and efforts to address the COVID-19 pandemic, Bloomberg Government reported Tuesday.

The federal insider threat technology market is expected to exceed $1B in fiscal year 2020 driven by agencies’ spending on cybersecurity tools and services designed to detect and monitor malicious behavior in data use and employee networks, Bloomberg Government reported Thursday.

Federal agencies are expected to spend approximately $29B on information technology products and services in the fourth quarter of fiscal year 2019, Bloomberg Government reported Tuesday.

Some contractors have expressed plans to increase their investments in production capacity and facilities in fiscal year 2018 and in the next few years as the Defense Department starts to ramp up contract obligations, USNI News reported Wednesday. Jason Aiken, chief financial officer at General Dynamics (NYSE: GD), told analysts …