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Budget

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

Monday, December 4th, 2017

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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…

Congress

House Republicans’ Blueprint For Reconciliation 3.0 Includes $60 Billion For Defense

House Republicans on Wednesday unveiled a blueprint for a third reconciliation bill that includes $60 billion for defense, a figure slightly below the Trump administration’s request to cover Iran war […]

Congress

Senate Dems Block Consideration Of FY ‘27 NDAA Over Iran War Concerns

Senate Democrats on Tuesday blocked a vote to advance consideration of the chamber’s $1.14 trillion fiscal year 2027 National Defense Authorization (NDAA). The procedural vote was 46-50, failing to reach […]

Congress

Concerns Raised At SASC Hearing On Unobligated Reconciliation Funds And Lack Of Updates On Iran War Cost

Members of the Senate Armed Services Committee (SASC) raised concerns at a hearing on Tuesday about the majority of funds in the $153 billion first reconciliation bill being unobligated thus […]

Unmanned Systems

CBO Says Upfront Costs To Protect Military Installations From Drones Between $1 Million And $74 Million

The initial costs to acquire and deploy counter-small unmanned aircraft system (C-sUAS) defenses at individual Defense Department installations are estimated at between $1.2 million and $73.6 million depending on the […]