Defense spending is on the rise, with the federal defense budget continuing to increase year over year. Experts forecast the US will spend more than $7 trillion in the next decade. That means upgrades in cybersecurity and information technology, overhauling outdated infrastructure, and addressing prevalent issues.
Recent initiatives have begun to change the landscape, which will continue to evolve, requiring competitive bidding on high-value, multiple-award contracts. Audit and compliance requirements will be heightened, and the government will pay closer attention to its contracts than in recent years. Contractors will need to be more proactive in improving internal controls and nimbler to navigate the contracting arena.
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