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Parsons Corporation SWOT & PESTLE Analysis

ID : 52996453| Jul 2021| 19 pages

COMPANY PROFILE -Parsons Corporation

Business Sector :Information technology

Operating Geography :United States, North America, Global

About Parsons Corporation :

Parsons Corporation is an American Information Technology company, headquartered in Centreville, Virginia and was founded in 1944 by Ralph M. Parsons. Parsons provides its services in the defense, intelligence and critical infrastructure markets. Its products include cybersecurity, intelligence, missile defense, C5ISR (Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance, and Reconnaissance), space, geospatial, mobility solutions and connected communities. These services are offered to federal, regional and local government agencies as well as private organizations. The products and services offered by the company facilitate customers in various fields including management, procurement, consulting, and security. Parsons has two business segments Federal Solutions and Critical Infrastructure. While Federal Solutions provide advanced technology solutions to U.S government, Critical Infrastructure provides integrated design and engineering services for infrastructures around the world. As of December 2020, Parsons had approximately 15,500 employees in 25 countries in which it operates. In June 2021, it announced its plan to acquire BlackHorse Solutions, a digital security firm, for approximately $203 million.
Parsons Corporation’s unique selling proposition or USP lies in delivering innovative technologies to defense, intelligence and critical infrastructure markets around the world. Parsons Corporation’s mission statement reads, “Delivering innovative infrastructure, defense, and security solutions to enable a sustainable, safer, smarter, and connected world.”

Parsons Corporation Revenue :


US$ 3.91 billion - FY ending 31st December 2020 (y-o-y growth -1%)
US$ 3.95 billion - FY ending 31st December 2019

Competitive Analysis of Parsons Corporation

SWOT
PESTLE
The SWOT analysis for Parsons Corporation is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Leading provider of technology-driven solutions in the defense, intelligence and critical infrastructure markets.
2. Continuous technological innovations to meet changing consumer needs
3. Strong financial performance
4. Strategic acquisitions leading to increase in technical offerings.
1. Heavy dependence on U.S. federal government and its agencies.
2. The company is highly indebted
3. Allegations of patent infringement leading to a lawsuit.
OpportunitiesThreats
1. Expanding global cybersecurity market.
2. Increase in urbanization creating demand for smart cities.
3. Increase in the US Defense spending will create opportunities for the company.
4. Global infrastructure needs replacement and technology-driven upgrades.
1. Changes in government spending could adversely impact the revenue of the company.
2. Full value of the backlog may not be realized resulting in lower than expected revenues.
3. Subject to reviews and audits by the US Government.
4. The company operates in a highly competitive industry
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Parsons Corporation

Strength

1. Leading provider of technology-driven solutions in the defense, intelligence and critical infrastructure markets: Over the past 77 years, Parsons has developed itself into a leading provider of innovative technology solutions in the defense, intelligence, and critical infrastructure markets. Through its 16,000 professional expertise the company has developed its skills in cybersecurity, intelligence, missile defense, C5ISR (Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance, and Reconnaissance), space, geospatial, mobility solutions and connected communities. It provides services like technical services, software and hardware products and integrated solutions. From integrated missile development and testing facilities to cybersecurity services, it provides all the necessary services to its clients. Parsons offers its client innovative services by investing in research and development, and by acquiring innovative technology companies. It has maintained a good relationship with the U.S military, intelligence agencies, state and local governments.

2. Continuous technological innovations to meet changing consumer needs: Parsons has maintained a long-term relationship with some of its customers like MDA, Department of Energy and WMATA. These long-term relationships are maintained by continuously evaluating the needs of the clients. The company makes substantial investment in research and development to meet the needs of its customers. So far, Parsons has developed iNET, Legion and AVAA technology which offer sophisticated engineering and technical services to its customers. Apart from these, the company offers 100 different products in 30 countries and is deployed by 1800 customers. Moreover, the company also provides advanced solutions for cyber threats, data and video analytics, cloud applications and artificial intelligence.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • Booz Allen Hamilton
  • CACI International Inc.
  • Leidos Holdings Inc.
  • ManTech International Corporation
  • AECOM Technology Corporation
  • Jacobs Engineering Group Inc.
  • Tetra Tech Inc.

Major Brands :

  • OGSystems
  • Polaris Alpha
  • QRC Technologies
  • Braxton Science and Technology Group, LLC
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?

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References used in Parsons Corporation SWOT & PESTLE Analysis Report

1. Annual Report 2020 - https://investors.parsons.com/static-files/04ad7a29-2ca7-41c9-ad6c-345f3630b930
2. Parsons sees potential boon in infrastructure bill - https://www.bizjournals.com/washington/news/2021/05/05/parsons-sees-potential-boon-in-infrastructure-bill.html
3. FACT SHEET: The American Jobs Plan - https://www.whitehouse.gov/briefing-room/statements-releases/2021/03/31/fact-sheet-the-american-jobs-plan/
4. U.S National Debt Statistics 1990 to 2020 - https://www.statista.com/statistics/187867/public-debt-of-the-united-states-since-1990/
5. 2020 Corporate Social Responsibility - https://investors.parsons.com/static-files/1f5ff7ca-6d0c-4261-ab23-37d519d47e14#:~:text=As%20an%20industry%2Dleading%20provider,on%20each%20of%20our%20projects.&text=In%20all%20that%20we%20do,our%20work%20on%20the%20environment
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Parsons Corporation SWOT and PESTLE analysis has been conducted by Shreya Gupta and reviewed by senior analysts from Barakaat Consulting.

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