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July 8, 2020 By cs

Federal contract spending reaches its highest level ever in fiscal 2019, marking 4 straight years of growth

Spending is expected to increase even more for fiscal 2020, exceeding $600 billion even before coronavirus stimulus funding is included.
Click on image above to download report.

Federal contract spending grew for the fourth year in a row to reach $597 billion in fiscal 2019, its highest level yet and a 6% increase over the previous year, according to newly released data.  Spending is expected to exceed $600 billion in fiscal 2020, without even including spending on economic stimulus funds in the wake of the novel coronavirus pandemic.

The data, compiled by Bloomberg Government, encompasses prime and unclassified contract spending. Bloomberg released the findings in the ninth annual BGOV200 report, which ranks the top 200 federal contractors. The report analyzes market trends, contractors’ performance and other dynamics among 92 federal agencies in 20 purchasing categories during fiscal 2019.

The agencies with the biggest gains in contract spending in fiscal 2019 included: the Housing and Urban Development, Commerce and Defense departments, and the General Services Administration. Some of the top markets were: facilities and construction; professional services; information technology and aircrafts, ships/submarines and land vehicles.

The 200 companies won the same share of total contracts as in 2018 and 2017, which was 64%. The top six companies — all in the defense industry — were: Lockheed Martin Corp., Boeing Co., General Dynamics Corp., Raytheon Co., Northrop Grumman Corp. and United Technologies Corp. This was the same as last year, except McKesson Corp. was number six in 2018 and this year it ranked seventh. In 2019, 37 companies entered the top 200 for the first time.

Keep reading this article at: https://www.govexec.com/management/2020/06/federal-contract-spending-reaches-its-highest-level-ever-fiscal-2019-marking-4-straight-years-growth/166484/

Filed Under: Government Contracting News Tagged With: Bloomberg, CARES Act, Commerce Dept., coronavirus, COVID-19, DoD, federal contracting, GSA, HUD, industrial base, industry, market conditions, pandemic, spending

August 19, 2019 By AMK

Money spent through OTAs surges to more than $4 billion

Other Transaction Agreements are an increasingly popular contracting tool, and they’re affecting overall government contracting numbers.

OTA purchases across the government surged from $2.3 billion in fiscal 2017 to over $4 billion in fiscal 2018.

The numbers come from the BGOV200, an annual ranking of the top 200 federal contractors created by Bloomberg Government.

“While multiple-award contracting is expected to dominate spending for years to come, agencies are also leveraging new acquisition methods to buy goods and services more quickly and easily in ways they haven’t before,” the report states.

The OTA authority, which was expanded by the 2016 National Defense Authorization Act, allows agencies to sidestep the Federal Acquisition Regulation and work with innovative, small companies that don’t normally do business with the government.

Keep reading this article at: https://www.fedscoop.com/otas-contracting-fiscal-2018-bgov/

Filed Under: Government Contracting News Tagged With: Bloomberg, NDAA, OTA, other transaction agreements, other transaction authority, spending, technology

January 29, 2018 By AMK

5 trends that will shape federal contracting

Bloomberg Government has issued its 2018 Federal Contracting Outlook, which looks at the year ahead for the government contracting marketplace. 

This year, government contractors can expect the following trends:

  • Information technology modernization fund disbursements through the Modernizing Government Technology (MGT) Act of 2017.
  • Expanded use of “Other Transaction Authority” to make purchases.
  • Increasing opportunities to provide audit services to federal agencies.
  • Growth in the use of “best-in-class” contracts.
  • Progress against procurement policy barriers that affect medium-sized companies (mid-tiers).

“This year government contractors have an opportunity to take advantage of key issues facing the federal government that will shape their priorities in 2018, including a focus on innovative acquisition methods, operational efficiencies, and IT modernization, ” said Donald Thomas, vice president and general manager, Government Contracting, at Bloomberg Government. “Federal government contractors should be optimistic with the uptick in spending that the federal government has experienced since 2012 and is expected to continue throughout 2018.”

A copy of the Federal Contracting Outlook is available for complimentary download at https://about.bgov.com/downloads/2018-outlook-five-trends-will-shape-federal-contracting-2018/.

More details available at: https://www.prnewswire.com/news-releases/bloomberg-governments-2018-federal-contracting-outlook-the-five-trends-that-will-shape-federal-contracting-300585995.html

Filed Under: Government Contracting News Tagged With: audit, Bloomberg, government trends, IT, other transaction authority, technology

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