Inflation bit deeply into world military budgets in 2022, with only China, Europe, and a few other countries achieving real growth in defense spending, according to the International Institute for Strategic Studies. China's spending level was a new record, but the IISS noted that its ...
Inflation threatens Northrop Grumman's profits on the B-21 bomber program, as the program moves from development to production, company officials said on their quarterly earnings call. The program remains below cost and on schedule, though, they said.
The Basic Allowance for Subsistence will rise 11.2 percent effective January 1, ringing in the new year with big increases for ever service member. The new enlisted rate is $452.56 per month, while the rate for officers reaches $311.68. That's the biggest year-over-year increase since ...
Despite inflation at levels not seen in decades, Air Force primes have yet to demand major adjustments to existing contracts, but there are concerns about lower-tier vendors, Air Force service acquisition executive Andrew P. Hunter said. Speaking with reporters at AFA’s Air, Space & Cyber ...
The Pentagon's upcoming 2023 fiscal year budget should go up at least $42 billion to $815 billion to combat rising inflation, warned three former Department of Defense comptrollers in a whitepaper released Tuesday by National Defense Industrial Association. NDIA also raised similar concerns in a ...
The Defense Department’s fiscal 2023 budget request contains a 4.6 percent pay raise for service members and DOD civilians, a figure touted by officials during the March 28 rollout as the largest increase for troops in 20 years. But at the same time, a new ...
Concern over inflation has impacted the Pentagon’s planning for the fiscal 2023 budget request, the Defense Department’s top financial official said March 9. But the budget is “substantively” complete, and space figures to be a foundational part of it, Comptroller Mike McCord said at the ...