Federal contract spending in fiscal 2018 increased for the third straight year to $559 billion, a 9% increase over 2017 spending and the highest level since 2010, when agencies spent $562 billion.
The data, compiled by Bloomberg Government, include prime and unclassified contract spending. Bloomberg released the findings in the eighth annual BGOV200 report, which ranks the top 200 federal contractors. The report analyzes market trends, contrators’ performance and other dynamics among the 24 largest federal agencies in 27 purchasing categories during the prior fiscal year.
Among the departments with the biggest gains in contract spending in fiscal 2018 were: Defense, Energy, Homeland Security and Transportation. Some of the top markets were weapons, professional services, aircraft parts and technology.
The top six companies’ rankings didn’t change from fiscal 2017. They are: Lockheed Martin Corp, Boeing Co., General Dynamics Corp., Raytheon Co., Northrop Grumman Corp. and McKesson Corp. Previously ranked 20th in 2017, United Technologies Corp. is seventh in 2018. All but one of the companies in the top 10 are in the defense industry.
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