Deltek Government Contracting Industry Study: What You Need to Know
Deltek, a software and information solutions provider for government contractors, recently released its 11th annual Clarity Government Contracting Industry Study. The study provides insights into trends and challenges facing the government contracting industry in the United States.
Key Findings
One of the significant findings of the study is that government contractors are optimistic about the industry`s future, with 81% of respondents anticipating growth in the next year. However, there are some challenges that contractors face in the industry.
One of the most significant challenges identified is the difficulty of finding and retaining talent. With 78% of contractors reporting challenges in finding skilled professionals and 72% experiencing difficulty retaining talent, the shortage of skilled workers is a major concern for the industry.
Another challenge for government contractors is the changing procurement environment. With the shift towards more commercial-like contracts and the increased use of Other Transaction Authority (OTA) contracts, contractors must adapt to new procurement methods.
The study also found a significant increase in merger and acquisition (M&A) activity in the industry. The number of M&A deals in the government contracting industry increased by 17% in 2018, and 70% of respondents expect this trend to continue.
Implications for Contractors
The Deltek Government Contracting Industry Study provides important insights for contractors operating in the government sector. The study highlights the need for contractors to focus on talent acquisition and retention, and to adapt to new procurement methods.
In addition, the study emphasizes the importance of keeping up with M&A activity in the industry. Contractors should be aware of trends and changes in the market to ensure they are positioned for success.
Ultimately, the Deltek Government Contracting Industry Study provides valuable information for government contractors to make informed decisions about their businesses. By understanding the challenges and opportunities facing the industry, contractors can adapt to changing trends and position themselves for growth.