Analysts said contractors competing for the U.S. Navy™s information technology programs face major opportunities as the service™s IT budget is predicted to climb from $11.3B in fiscal year 2019 to $12B in 2020, National Defense reported Wednesday.
The Navy™s cybersecurity spending is projected to increase to $1.6B in 2020 and overall IT spending is expected to reach $12.3B by 2024, according to presentation slides by Cameron Leuthy, a senior budget analyst with Bloomberg Government.
œIt doesn™t look like much compared to the rest of the contract spend for the Navy, but it™s big money, Leuthy said of the service™s IT budget.
According to the report, some of the service™s IT initiatives with the largest budgets for 2019 include the Navy™s standard integrated personnel system; enterprise resource planning; maritime maintenance enterprise platform; and base communications office.
Leuthy said a variety of companies have a considerable presence in the IT market.
œYou™ve got an interesting mix of hardcore, traditional big defense contractors and specialized IT companies in this space, he said. œSome of these top vendors weren™t big in Navy contracting overall, but they™re big in the IT space.
