GD - Large defense contracts fell 17% to $13B in Q2: William Blair

2023-07-07 13:23:42 ET

The value of large defense contracts declined 17% from a year earlier to about $13 billion in Q2, according to data tracked by analysts at financial-services firm William Blair.

Some of the most notable contract awards during the June quarter were:

• $1.2 billion/5-year U.S. Department of Defense Bold Venture task order for systems prototyping [Parsons ( NYSE: PSN )]
• $1.2 billion/7-year U.S. Navy Spectral IDIQ for signals intelligence and electronic warfare systems [CACI International ( NYSE: CACI )]
• $1 billion/10-year U.S. Department of Interiors cloud services sole-sourced IDIQ [Peraton ((private))]
• $995 million/5-year U.S. Air Force IDIQ to Support U.S. Air Force in Europe-Air Forces Africa [Huntington Ingalls Industries ( NYSE: HII )]
• $719 million/5-year NASA task order to provide engineering services to Goddard Space Flight Center [Space Network Solutions LLC]
• $630 million/8-year U.S. Space Force task order for Remote Sensing services re-awarded [Booz Allen ( NYSE: BAH )]
• $622 million/5-year U.S. Army task order for Technology Insertion Transformation Unified Services (TITUS) program [ManTech ((private))]

The pipeline for large contracts includes the following, according to William Blair:

• $1.3 billion NASA NCAPS [incumbents are General Dynamics ( NYSE: GD ) and SAIC ( NYSE: SAIC ) among others]
• $10 billion U.S. State Department Evolve [SAIC ( SAIC ) is the incumbent]
• $7.9 billion Army CHS-6 [General Dynamics ( GD ) is the incumbent]
• NGA $850 million R&D [Booz Allen ( BAH ) is the incumbent]

For further details see: