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GE’s $5 Billion in Federal Contracts to Be Split in Spin-offs

Nov. 10, 2021, 3:27 PM

The split of General Electric Co. into three companies between 2023 and 2024 will separate health care from aviation, and those business lines’ government contracting revenue.

Total GE federal contract-based revenue jumped 42% from fiscal 2019 to fiscal 2020, reaching an all-time-high for the company of $5 billion. That spike was fueled by a combination of aviation-based spending at the departments of Defense and Homeland Security and purchases by the federal government of equipment related to the Covid-19 response.

GE was the 18th largest federal contractor in fiscal 2020 and was the 11th largest defense contractor.

Bloomberg Government forecasts GE’s ...