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.
War Secretary Pete Hegseth has unveiled Project Meridian, the Autonomous Warfare Command and four other DOW initiatives at Quantico.
The Coast Guard's Force Design 2028 execution is accelerating, with organizational changes completed and major contracts awarded.
TTM financed the Epiq purchase with a $300M Term Loan A and an $800M Term Loan B.
The Navy has awarded Booz Allen, CACI and five other companies spots on a potential $828 million IDIQ for business…
The eight-year IDIQ covers installation, relocation and removal of imaging, X-ray and trace detection systems at checkpoints.
Masood Ahmed joins Peraton after about a decade at Leidos, where he most recently oversaw a federal health and civilian…
Serco will provide program management, engineering and logistics support for 10 mission functions across U.S. naval hubs.
The former ALL.SPACE Networks and L3Harris executive will lead C5MI business development, marketing and alliances.
President Trump has signed an executive order adopting super intelligence terminology and an accord on frontier model safety controls.
The five-year Alliant 2 award covers software development, operations and maintenance.
Booz Allen has appointed former Navy Task Force 59 Commodore Michael Brasseur as executive VP in its defense tech business.
The award covers logistics, maintenance and field support for Army C5ISR-M systems at 190 locations worldwide.
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