Actionable Market Intelligence for Defense Contracts

February 24, 2022

Though federal contract spending in 2021 did not manage to exceed the record spending of 2020, at more than $645 billion it still surpassed pre-2020 totals. Defense comprised the lion’s share of spending at $408.3 billion in 2021, down from $448.7 billion in 2020.

With defense contracts representing 63% of total spending and competition tighter than ever, the research, analysis, and tools your company employs are essential to developing a winning strategy. Let Bloomberg Government help you tap into a larger share of the defense market.

Step one: Understand top defense contracting trends

The contracting industry can be volatile, so keeping your finger on the pulse of the latest developments is key. In 2021, for example, despite the overall slump in spending, Bloomberg Government analysts noted that Federal agencies signaled a continued commitment to best-in-class contracts by upping their fiscal 2021 BIC spending to a record $50.9 billion. This 12.5% year-over-year overall BIC increase in fiscal 2021 was largely driven by purchases funded by the Pentagon, despite a $65 billion drop in overall agency spending.

Our Bloomberg Government analysts provide market-leading coverage of the latest industry trends and the federal bidding process. Their detailed analysis takes work off your plate and can be delivered straight to your inbox. Select the markets and topic areas most relevant to your business needs, and receive direct access to analysis and opportunities that will help you:

  • Gain upstream insight into your customers, markets, and programs of interest
  • Understand the impact of federal policy and initiatives on your bottom line
  • Conduct strategic validation and gain access to industry briefs and exclusive events
  • Follow funding to ensure that you are best positioned to maximize resources and revenue

Defense contracts, in particular, are some of the largest in the contracting industry, but are also some of the most difficult to get – often due to the sensitivity of the information involved. Our expert analysis is vital for keeping tabs on the ever-changing defense industry. Don’t miss our on-demand webinars covering FY 2022 U.S. Army, U.S. Air Force, and U.S. Navy and Marine Corps budget priorities.

Market Intel to Fuel Your Business

Business development professionals need to stay one step ahead of their competition to fuel their pipelines and win work with the federal government.

Step two: Research your key markets

Finding the right federal contracting opportunities for your business requires research. The opportunities seem endless, but not all of them are a good fit. Bloomberg Government offers proprietary data-driven tools to aid your research process.

Size and scope your addressable market

Want to know all the contracts a defense agency has had in the past five years or whether the military has been spending more or less? Use our Contracts Intelligence Tool to access comprehensive data that will help you turbocharge your market research. Analyze 50+ contract characteristics and filter data by agency, prime vendor, contract amount, contract vehicles, and more. We don’t just procure data – our experts aggregate, cleanse, and provide insights using dozens of sources to surface contracts, solicitations, procurement forecasts, budget programs, and overall opportunity data all in one place.

Find and Qualify Federal Opportunities

Use our Opportunity Search tool to find and exclude keywords in documents attached to solicitation notices. Our algorithms, customizable interface, and unmatched data accuracy ensure you’re finding the partners, vendors, opportunities, and more that are most relevant to you and your business.

Step three: Enable your team

In the competitive defense contracting industry, even the most detailed market research and analysis will only take you so far without a streamlined workflow for finding and qualifying opportunities in your pipeline. That’s where Bloomberg Government comes in. We’ve created a one-stop shop for anyone on your business development team to gain the latest industry trends, alert themselves to relevant opportunities, and then export market and account planning reports to improve your business intelligence.

Building a pipeline takes a village, and many different parties need to weigh in. With BGOV, you’ll have the ability to create and share insights that help your team and leadership streamline the decision-making process.

Every step of the way, Bloomberg Government provides the analysis and data-driven tools to help you move ahead of the competition. Managing your research and your overall workflow on one platform makes it easier to move through the opportunity pipeline faster, craft high-quality proposals, and win more bids.