Report Finds Fifth Straight Year of Increased Government Contract Spending
WASHINGTON, DC (June 10, 2021) — Bloomberg Government today issued the tenth annual edition of its BGOV200 report, ranking the top 200 federal contractors based on fiscal year 2020 data for unclassified, prime contracts awarded across all U.S. federal government agencies. Bloomberg Government’s analysis finds that fiscal 2020 marks the fifth straight year of increased government contract spending, with contracting dollars increasing by $83 billion compared with fiscal 2019. To download a copy of the BGOV200, visit http://onb-gov.com/KPDd50F6tJW.
The 10th annual BGOV200 report is the culmination of extensive data management for areas such as company hierarchy, contract title, and agency assignments. Data integrity makes this the premier source for government contract practitioners trying to make sense of shifts in the competitive landscape. The data is accessible anytime to BGOV subscribers.
Among the report’s key findings:
- Fiscal 2020 total federal contract spending increased by 14 percent, from $599 billion in fiscal 2019.
- The share of total government obligations won by the top 200 contractors was 65 percent, about the same as in fiscal 2019.
- 98 companies improved their rankings, down from 120 in fiscal 2019 while 92 companies lost ground in the rankings, up from 69 the previous year.
- The rankings of 10 companies, including four of the top 10, remain unchanged.
- Combating Covid-19 pushed 45 companies into the BGOV200, an uptick from 37 new entrants in 2019.
The money spent by the federal government on contractors in fiscal 2020 primarily came from the $1.6 trillion in discretionary funding enacted for fiscal 2020, including $714 billion for defense and $914 billion for nondefense. However, the $2.3 trillion Covid-19-related stimulus package signed into law in March 2020 provided a boost well beyond forecasts that had already predicted a historic peak.
“Bloomberg Government is proud to release our BGOV200 for the tenth year, making it easier for government contractors to understand the competitive landscape and identify partners,” said Kevin Brancato, Bloomberg Government’s head of product. “This report is one of the Bloomberg Government’s many human and data-driven decision tools, news, and predictive analytics that help government contractors build bigger pipelines, make smarter business development investments, and win more federal contracts.”
Bloomberg Government forecasts fiscal 2021 will be another year of exceptionally high federal contract spending, with obligations that could range from $600 billion to $695 billion. Top markets likely to see continued growth in fiscal 2021 based on the BGOV forecast are: facilities and construction ($119 billion), professional services ($94 billion), and information technology ($80 billion).
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