Lockheed Martin Corp. led defense contractors with commitments totaling more than $74 billion. Find out how the rest of the top 10 fared in fiscal 2020: what`s next for the defense contract? All eyes are on President Biden`s fiscal year 2022 budget request. Defence agencies would receive $753 billion under this request, $12.3 billion more than in fiscal year 2021. It should be noted that this will be the first budget in a decade in which defence and other spending is not constrained by budget caps. That means Congress has the ability to shift money between defense and non-defense programs, or increase funding without using emergency or emergency accounts. Check out the tenth annual BGOV200 Federal Industry Leader Ranking and download the full report. This study focuses only on framework contracts – those where companies have direct relations with the government – and not on subcontracts. The Department of Defense`s total spending includes contracts with the army, air force, navy and 20 other defense agencies. In fiscal year 2020, defence contract spending reached a record $447 billion, representing nearly two-thirds of total federal contract spending. This is impressive growth that we have been pursuing for years.
Pentagon spending increased by $140.6 billion between fiscal years 2016 and 2020, with an increase of $42 billion last year alone. The Navy and Army both increased spending by 23 percent and 9 percent, respectively, in fiscal year 2020, while the Air Force remained unchanged. A defence contractor is a commercial organization or individual who provides goods or services to a government military or intelligence service. Products typically include military or civilian aircraft, ships, vehicles, weapons and electronic systems, while services may include logistics, technical assistance and training, communications assistance and technical assistance in cooperation with the government. In the United States, defence procurement is playing an increasingly important role. In 2009, the Department of Defense spent nearly $316 billion on contracts. [1] Contractors assumed a much larger presence on the ground during U.S. conflicts: during the 1991 Gulf War, the ratio of uniformed military to contractors was about 50:1, while in the first four years of the Iraq War, the U.S. hired more than 190,000 contractors. exceeding the total US military presence, even during the 2007 surge in Iraq, and 23 times more than the number of other allied military personnel.
[1] In Afghanistan, the presence of nearly 100,000 contractors resulted in a ratio of nearly 1:1 with military personnel. [1] The increase in spending by defense contractors that began in 2001 stagnated in 2009, leading to the Better Buying Power initiative of 2010. [2] [3] Now let`s look at the largest defense contractors on the BGOV200. There are many familiar faces, but there have been remarkable movements year after year. Raytheon`s merger with United Technologies Inc. put the company in second place, while Analytic Services Inc. jumped 8 spots year-over-year, in part due to $7.1 billion in Army-related expenses related to Covid-19. For more than 45 years, Forecast International`s intelligence reports have been the aerospace and defence industry`s standard for accurate research, analysis and forecasting.
Our experienced analysts collect, evaluate and present accurate data to decision-makers. FI`s market research reports provide accurate analysis of individual programs and identify market opportunities. Each report contains an overview of the program, detailed statistics, recent developments, and competitive analysis that results in production forecasts for 10 or 15 years. Let our market intelligence reports play an important role in reducing uncertainty and mastering your specific market and its growth potential. For more information, see www.forecastinternational.com security companies do not typically provide direct support to military operations. Under the 1949 Geneva Conventions, military contractors involved in direct support of military operations can be legitimate targets for military interrogation [the Bloomberg administration launched the tenth annual BGOV200, a ranking of the best federal contractors. View the list and download the report.] Below is a list of the top 100 U.S. Department of Defense (DoD) prime contractors for fiscal year 2020, ranked by total contract funds awarded. In fiscal year 2020, the Department of Defense awarded a total of $421.5 billion in defense contracts, a 10.2 percent increase from fiscal 2019`s $382.6 billion.
The Department of Defense accounted for 63.3 percent of total government contracts in FY20, up from 65.1 percent in FY19. In fiscal 2020, first-prize winner Lockheed Martin received $74.9 billion in prime contracts, or 17.8 percent of the total contract funds awarded by the DoD. Second place went to Raytheon Technologies with $26.5 billion (6.3%), followed by General Dynamics in third place with $21.9 billion (5.2%). Boeing received $21.7 billion (5.2 percent), followed by Northrop Grumman, Huntington Ingalls, Humana, BAE Systems, L3Harris and General Electric. BAE Systems, #8 on the list, was the Department of Defense`s largest foreign defense contractor in fiscal year 2019. $74,913 $26,489 $21,880 $21,708 $12,068 $7,710 $6,922 $6,499 $6,272 $4,378 $3,109 $3,091 $3,043 $2,848 $2,498 $2,383 $2,287 $2,257 $2,143 $1,944 $1,707 $1,691 $1,690 $1,685 $1,674 $1,644 $1,532 $1,451 $1,356 $1 339 1,1,685 $1,339 $1,644 316 $1,284 $1,253 $1,225 $1,184 $1,126 $1,112 $1,097 $1,096 $1,054 $1,032 $1,019 $984 $957 $944 $835 $802 $801 $726 $697 $679 $638 $623 $622 $618 $614 $607 $603 $563 $544 $532 $524 $524 $521 $519 $502 $496 $490 $485 $484 $477 $473 $468,463 $460 $458 $457 $453 $434 $429 $421 $417 $413 $407 $405 $387 $384 $381 $378 $375 $373 $363 $360 $358 $354 $353 $349 $342 $328 Size and scale of your market Addressable, find opportunities, and grow your business by accessing unparalleled data sets and proprietary analytics that are only achieved with Bloomberg Government. This is a list of the world`s largest arms manufacturers and other military companies, as well as their countries of origin. The information is based on a list published by the Stockholm International Peace Research Institute for 2018. [4] The list provided by SIPRI does not include companies based in China. The numbers are in the millions of dollars. Lockheed Martin Corp.
Raytheon Technologies Corp. General Dynamics Corp. Boeing Northrop Grumman Corp. Huntington Ingalls Industries Inc. Humana Inc. BAE Systems plc L3Harris Technologies Inc. General Electric Company Health Net Federal Services LLC Atlantic Diving Supply Inc.