Bloomberg Government has released its eighth annual BGOV200 report ranking the top 200 federal contractors for 2018 — and its analysis shows a third consecutive year of industry spending growth totaling $559 billion.
The top five rankings are Lockheed Martin, Boeing Co., General Dynamics, Raytheon and Northrop Grumman, respectively, as these contractors maintain their top slots through weapons production.
The rankings are based on fiscal year 2018 data for unclassified prime contracts awarded across all federal government agencies, and the year’s spending comes close to the $562 billion recorded in 2010.
Bloomberg Government’s semiannual BGOV200 list analyzes the performance of successful government contractors and the dynamics of the previous year at 24 agencies and departments across 27 different purchasing categories.
In its most recent report, key findings include:
- Fiscal 2018 total federal contract spending increased by 9% from $512 billion in fiscal 2017
- The rankings of eight of the top 10 remain the same from 2017, aside from United Technologies Group joining the top 10 as seventh.
- Fiscal 2018’s list welcomed 32 new companies, and the highest ranked incomer is L-3 Communications Vertex Aerospace at 56
- 118 companies improved their rankings while 68 companies lost ground in the rankings
Additionally, the report found spending increases in IT, health services and logistics services boosted 2018 performance for Booz Allen Hamilton (12 on the list), CACI International (21 on the list) and Perspecta (26 on the list).
“Not only is this the third consecutive year of federal contract spending growth, the outlook for federal contractors is promising in the coming year thanks to the multiple spending bills—totaling nearly $1.4 trillion—that Congress passed in fiscal year 2019,” said Donald Thomas, Bloomberg Government’s vice president and general manager.
Thomas also noted companies in professional services, IT, facility services and research and development categories have accelerated their spending in recent years, continuing that trend in 2018.
Find the full BGOV200 report here.