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Defense budgets update

The military and aerospace (mil/aero) community has been talking about dwindling defense budgets in the U.S. and Europe for years. Attentions, especially those of technology companies providing mil/aero solutions, have turned to emerging markets, including BRIC (Brazil, Russia, India, China) and MENA (Middle East and North Africa) countries.

President Obama sent his Fiscal Year 2015 Budget to Congress this month, and many in the U.S. are already hotly debating its allotment for the U.S. Department of Defense (DoD).

The budget builds on the “Opportunity, Growth, and Security Initiative that invests in our economic priorities in a smart way that is fully paid for by making smart spending cuts and closing tax loopholes that right now only benefit the well-off and the well-connected,” President Obama said.

defense-cuts

U.S. Secretary of Defense Chuck Hagel made the following recommendations to President Obama for the Defense Department FY 2015 budget—which he called “the first budget to fully reflect the transition [the] DoD is making after 13 years of war—the longest conflict in our nation’s history.”

The budget calls for a reduction, to pre-World War II levels, of U.S. Army personnel, elimination of the A-10 military aircraft, and increased investment in modern technologies—referred to by Hagel as “an emphasis on capability over capacity.”

Hagel’s recommendations “favor a smaller and more capable force—putting a premium on rapidly deployable, self-sustaining platforms that can defeat more technologically advanced adversaries,” he said.

The DOD’s FY 2015 base budget request is $496 billion, roughly the same as the current year’s budget, and calls for $26 billion for the President’s Opportunity Growth and Security Initiative to improve readiness and modernization.

Mil-Aero, Mentor.com, Milaero, Chuck Hagel, DoD, BRIC, Military, Mentor, Obama, Mentor Graphics, Geek, MENA

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