Over at Washington Technology, we are deep into the data analysis to establish the 2024 Washington Technology Top 100 and are eager to offer you a sneak peek into what's shaping up to be a groundbreaking year.

One of the Top 100's real values is tracking market changes. When we release the rankings at our June 13th event, we’ll discuss these changes and what they mean to companies of all sizes across the market, not just to the Top 100.

Here are a few observations and patterns from our findings so far.

The Current of Reinvention

Many companies in the Top 100 make the rankings each year (Leidos, Northrop Grumman, Lockheed Martin, Booz Allen, CACI International, General Dynamics) but year-to-year stability should not be mistaken for stagnation.

Far from it.

Even the biggest of the big are in a state of constant reinvention. Much of this is driven by customer demand and policy mandates, such as the Biden administration’s executive orders on improving customer experience (CX), the supply chain, and cybersecurity.

Mergers and acquisitions continue to shape the market. There also have been several significant leadership changes. So, while you see still waters on the surface, there’s a swift current below propelling the industry.

The Rise of Commercial Tech, Space, and Cyber

The dominance of space and cybersecurity technologies underscores their critical role in shaping federal priorities and driving industry innovation.

CX has kicked open the door for more commercial technologies to enter the federal market, driving non-traditional firms to develop deep relationships with primes.

The significant uptick in the adoption of commercial technologies reflects a shift towards solutions driven by customer demand and policy mandates.

The government itself, both civilian and defense, is encouraging this trend because they are thirsty for innovation.

Solutions as a Service

How the government buys is also evolving as we see more as-a-service acquisitions. The government is increasingly less interested in building something from scratch and wants to buy solutions as a service.

This also drives more commercial partnerships for traditional integrators as they try to bring that service to their customers.

Additionally, the prevalence of software-defined solutions underscores a fundamental shift towards agile and adaptable technologies.

We are embarking on a new era of collaboration.

Fueling Market Growth

Preliminary data shows significant market growth. The Top 100 companies capture more than $150 billion in prime contracts, and that’s not a final number. It’ll likely be closer to $160 billion before we are done.

The short government buying cycle can put a huge strain on companies, but there are focus areas where the government always spends. Things like defense, national security, and homeland security are what Stu Shea of Peraton called “missions of consequence” when he spoke at last year’s event. Consequently, Peraton landed the ninth spot on the 2023 rankings with $4.4 billion in prime contract obligations.

A Market All Their Own

But whatever the final number, it hammers home a point I like to make with each Top 100:

These companies are more than a set of high-performing players. When you consider the amount of spending that flows through them, they are another market.

You need to consider the Top 100 as another set of customers, understand their needs, and identify where you can help them.

Whether you're a commercial tech firm, a federal newcomer, or an established player, understanding the Top 100 is essential for identifying growth opportunities… for the market disruptors.
 

Join me and fellow industry leaders on June 13th for the 2024 Washington Technology Top 100 showcase, where you’ll gain exclusive insights into the latest market trends, forge valuable connections, and unlock new pathways to success in the federal marketplace.

Interested in supporting this event?
Contact Solutions@GovExec.com.