Navy Strategic Outlook for 2023-2024

The Navy acquisition environment continues to adapt to address the department’s multiple modernization realignment efforts and meet evolving objectives. Take advantage of this free report looking at the Department of the Navy’s contracting trends and business prospects for the 2024 fiscal year and beyond.

What's Inside:

This free report takes a look at the Department of the Navy’s contracting trends including:

• FY 2024 budget outlook
• Top issues and priorities
• Procurement and contract spending trends
• Preferred contract vehicles and top contractors
• Opportunity highlights and potential project leads

“GovWin provides us the ability to have detailed information, context and contacts for programs of record along with insightful articles.” - John Tabler, Senior Account Executive, U.S. Navy and NATO, Cohesity

Sample Key Findings:


Record High Funding Requested for FY 2024
A historic high of $255.8 billion in requested discretionary funding for the Navy should translate into strong contract spending in FY 2024.


Sustained Reliance on Contractors
Navy spending on contracted support as a percentage of total budget remains strong and continues to rise.
 

Small Business Goals Struggling
The Navy failed to meet any of their small business contracting goals in FY 2022 presenting an opportunity for small businesses to win more contracts.

FY 2024 The FY 2024 budget continues a strong growth trajectory, building on growth in FY 2023 appropriations. Support in Congress for global readiness will continue, with some adjustments around individual priorities.

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