ARTICLE
The top 10 defense contractors
July 14, 2022
[Bloomberg Government has launched the 11th annual BGOV200, a ranking of the top federal contractors. See the list and download the report.]
Defense contract spending totaled $408.4 billion in fiscal 2021, a $40.3 billion decrease from the prior year. In total, Pentagon spending is still more than $404.6B than in fiscal 2019.
Data shows the Defense Department spent $29 billion less in the fourth quarter of fiscal 2021 than the previous year, a huge part of the $28.4 billion net year-over-year decline across the government. The quarter’s share of total annual procurement also fell – to a five-year low of 27.5%, 3.5 percentage points below its annual average for fiscal 2017–21, according to Bloomberg Government data.
A $12 billion year-over-year increase in Pentagon purchases of Covid-related drugs and biologicals in the fourth quarter couldn’t offset spending decreases in key defense markets such as research and development (-$9.8 billion, -55%), aircraft manufacturing (-$6.7 billion, -65%), and construction and renovation (-5.9 billion, -39%). A 54% Q4 drop in F-35 Joint Strike Fighter spending was part of the annual decline in spending for the aircraft.
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Top 10 largest defense contractors in FY2021:
- Lockheed Martin Corp.
Obligations: $40.2B - Boeing Co.
Obligations: $22.1B - Raytheon Technologies Corp.
Obligations: $20.7B - General Dynamics Corp.
Obligations: $17.8B - Pfizer Inc.
Obligations: $13.3B - Northrop Grumman Corp.
Obligations: $12.9B - Huntington Ingalls Industries Inc.
Obligations: $7.4B - Humana Inc.
Obligations: $7.1B - Moderna Inc.
Obligations: $6.9B - Regeneron Pharmaceuticals Inc.
Obligations: $5.6B
Explore the 11th annual BGOV200 Federal Industry Leader rankings and download the full report.
A ranking of the top 200 federal contractors based on fiscal year 2021 data for unclassified, prime contracts awarded across all federal government agencies.
Reference Shelf
- Download: BGOV200 Federal Industry Leaders 2021
- Download: Top Federal Markets to Watch
- On Demand: Top Federal Markets to Watch
- Download: FY21 Army Budget Priorities
- Download: FY21 Air Force Budget Priorities
- Download: FY21 Navy-Marine Corps Budget Priorities
- Winning Federal Contracts on the Top 20 Contract Vehicles
- Cybersecurity for Government Contractors
- Government Contracting and the Federal Budget
- Federal Contract Spending Trends in Five Charts
- Partnering with 8a Companies as a Large Contracting Firm
- Actionable Market Intelligence for Defense Contracts