These Are the Top 10 Government Contractors
July 14, 2022
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[Bloomberg Government has launched the 11th annual BGOV200, a ranking of the top federal contractors. See the list and download the report.]
Bloomberg Government’s BGOV200 is an annual summary of the top federal government contractors and critical market trends. In fiscal year 2021, federal spending reached $649 billion. While this is an overall decrease of $37 billion from fiscal year 2020’s $687 billion, it’s still more than the years preceding 2020.
Fiscal 2020’s all-time high marked the fifth straight fiscal year of spending growth, after five years of market decline. Spending to combat Covid-19 boosted fiscal 2021 obligations, pushing some companies into the BGOV200 for the first time.
Our BGOV200 Federal Industry Leaders report ranks the top 200 vendors by value of prime, unclassified contracts awarded by U.S. agencies in fiscal 2021. It analyzes the top contracts at 25 agencies and departments, and in 19 different purchasing categories.
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Of the 19 purchasing categories analyzed, seven increased and 13 experienced decline. The growing markets with the largest increases year over-year include: Electronic & Communication Services (67.28%), Medical (26.29%), Industrial Products & Services (20.18%), Professional Services (13.23%), Security and Protection (10.66%), Transportation and Logistics Services (2.86%), and Office Management (2.79%). Some of the largest increases year over year are for markets such as medical, which grew by $17.9 billion. The professional services market increased by $12 billion, industrial products and services by $2.8 billion, and transportation and logistics services grew by $814 million.
Top 10 contractors in FY2021:
- Lockheed Martin Corp.
- Boeing Co.
- Raytheon Technologies Corp.
- General Dynamics Corp.
- Northrop Grumman Corp.
- Pfizer Inc.
- McKesson Corp.
- Leidos Holdings Inc.
- Huntington Ingalls Industries Inc.
- Moderna Inc.
Explore the 11th annual BGOV200 Federal Industry Leader rankings and download the full report.
In response to the nation’s biggest inflation increase in decades, agencies have loosened pricing rules and negotiated contract modifications in order to stave off critical supply disruptions that could threaten national security, public health, and economic performance.
Contract and budget data reflect that if pandemic response spending were removed from the fiscal year total and the dollar amounts were adjusted for inflation, federal contract spending in 2021 was $535 billion — a lower total than all but four of the last 10 years.
Prices for government purchases jumped more than 3.5% in 2021, according to the Bureau of Economic Analysis, squeezing many vendors’ costs.
Persistent inflation into a new fiscal year will put pressure on vendors to submit bids that are both competitive and an accurate reflection of financial realities. Key to those decisions will be a clear understanding of how closely agencies’ inflation projections match observed market trends.
A ranking of the top 200 federal contractors based on fiscal year 2021 data for unclassified, prime contracts awarded across all federal government agencies.
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