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Bloomberg: Pentagon’s Fiscal 2017 Contract Spend Reached $331B

Bloomberg: Pentagon's Fiscal 2017 Contract Spend Reached $331B - top government contractors - best government contracting event

Bloomberg‘s Bloomberg: Pentagon's Fiscal 2017 Contract Spend Reached $331B - top government contractors - best government contracting eventgovernment arm has analyzed the Defense Department‘s unclassified contract obligations and found that DoD awarded a total of $331 billion to contractors over the last fiscal year.

Robert Levinson, a senior defense analyst at Bloomberg Government, wrote in a blog entry posted Wednesday that the Department of the Navy, which includes the U.S. Marine Corps, received the highest DoD spending share during FY 2017 at $114.2 billion.

The Navy surpassed the U.S. Army‘s $91.1 billion acquisition funds, continuing a trend that started in FY 2013 primarily due to the reduction of Army forces deployed in Afghanistan and Iraq.

Weapon systems acquisition accounted for the largest increase in the Pentagon’s spending from FY2016 to FY2017, the report noted.

BoeingGeneral DynamicsLockheed MartinNorthrop Grumman and Raytheon remained the biggest U.S. defense contractors and maintained a collective market share of about 32 percent of all defense contract spending in FY 2017.

Texas received the highest DoD contract dollars in FY 2017 among all states, with defense procurement reaching $45.4 billion in FY 2017 from $28.5 billion in FY 2016.

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Written by Ramona Adams

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