:

Budget

Lockheed Martin CEO: Budget Uncertainty Hurts Industry As Much As Military

Monday, December 4th, 2017

SHARE:

Lockheed Martin CEO: Budget Uncertainty Hurts Industry As Much As Military

Lockheed Martin Chairman, President and CEO Marillyn Hewson speaking at the company's annual media day on March 21. Photo: Lockheed Martin

Defense budget cuts and an ongoing series of stopgaps spending measures is hollowing out the U.S. defense industry as much as Pentagon leaders accuse funding uncertainty for threatening military readiness and modernization, according to Lockheed Martin’s [LMT] chief executive.Speaking to the Reagan National Defense Forum in Simi Valley, Calif., on Dec. 2, CEO Marillyn Hewson said a recent history of anemic defense budgets has driven many second- and third-tier contractors from the defense sector. That has driven down competition and…

Army

Army Relooking At Its ‘Whole Aviation Transformation’ Plan, Acting Chief Tells Lawmakers

The Army is relooking at its “whole aviation transformation initiative,” the service’s acting chief of staff told lawmakers on Tuesday, to include its approach for future procurement of “enduring” platforms. […]

Army

Lawmakers Request DoD Briefing On Army’s Planned Cuts To Aviation Procurement

A bipartisan group of House lawmakers has sent a letter asking the Pentagon for a briefing on the potential industrial base impacts as a result of the Army’s planned cuts […]

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]