Record $765B in Federal Contracts Awarded in 2023 – HigherGov Report
A new report by government market intelligence platform HigherGov shows that defense and civilian contractors were awarded a record level of contract awards in 2023.
- A new report by government market intelligence platform HigherGov shows that defense and civilian contractors were awarded a record level of contract awards in 2023.
- The 2023 Federal Contract Award Report , based on analysis of public and proprietary HigherGov data, found that federal prime contractors received a total of $765 billion in awards.
- Competition levels reached a record high in 2023, with an average of 3.4 bidders per award
“Strong growth in 2023 was primarily attributable to spending on the war in Ukraine, large defense procurement programs and broad-based award growth,” said Justin Siken, founder of HigherGov. - 2023 award levels benefited significantly from procurement programs and war spending that may not be repeated in the future.