In fiscal year (FY) 2024, the Federal Government spent more than 4755 billion on contracts, a 3 percent decrease from the previous year. The Government also spent more than $51 billion through the GSA Schedule Program, which according to GSA makes the Schedule the largest purchasing program in the world.
Here are some of the significant developments from FY24:
Some of the highlights of the FY 2024 Federal Market Report include:
- Spending through the Schedule Program exceeded $51 billion, marking an 8 percent increase. This is the third largest year-over-year increase within the last decade and the largest figure since 2011, indicating healthy growth in Schedule utilization.
- Spending through the VA Schedules increased by over 12 percent, exceeding $21 billion.
- BPA spending increased by 6 percent, surpassing$27 billion in total obligations and accounted for 52 percent of spending through the GSA Schedule Program. This is the fourth consecutive year in which the market share for BPAs exceeded 50 percent.
- FY24 marked the fourth consecutive year in which over 50 percent of all Federal contract spending was obligated using IDIQs.
- Spending through the MSPV Program significantly increased by 43 percent for a total of$781 million.
To view the Federal Market Report, click the button below. Note: The Federal Market Report is available to Coalition members only. For any questions, please contact Michael Hanafin at mhanafin@thecgp.org.