Ever wonder where the Federal procurement dollar goes? Here are some stats we came across recently.
In fiscal year 2011, procurement spending totaled $535 billion (down by about one percent from fiscal year 2010). Of that amount, DoD accounted for 70 percent or $375 billion.
The top 100 Government contractors received 54 percent of total procurement dollars ($284 billion) with ten percent of the contract actions. The remaining 46 percent of procurement dollars were spread among the other 90 percent of contract actions (or, contract awards).
The top five Government contractors (Lockheed, Boeing, Northrup Grumman, General Dynamics, and Raytheon) received 19 percent of the total ($102 billion).
Thirty-four companies received awards of $2 billion or more. Seventy-one companies received awards of $1 billion or more.
Over half of the procurement dollars awarded by DoD were based on competition.
While the public seems to be focused on procurement spending, grant spending was higher than procurement spending in fiscal year 2011. Grant spending totaled $545 billion compared to $535 billion for procurement. About 50 percent of these grant dollars were sponsored by DHHS (Department of Health and Human Services) for medical assistance programs. DoD sponsored only eight percent of the total grant spending. Eighty-eight percent of total grant dollars went to state and local governments, 7 percent went to universities and 3 percent to nonprofits.