WASHINGTON — The prospects of growing military Bipartisan support is needed to counter threats from Russia and China for A surge in Pentagon spendingAnother potential opportunity is to set up another. boom for Weapons makers It is possible that this will extend well beyond the war in Ukraine. The Congress will soon give its final approval for a national legislation. military budget for Current fiscal year expected to hit $858 Billion, which is $45 billion higher than President Biden’s request.
Approved at this level Budget for the Pentagon Center for Economic Analysis found that the rate of growth in these two years will be 4.3%, even after accounting for inflation. This compares to an average real dollar increase of less than 1 % per year between 2015 and 2021. for Evaluations of Strategic and Budgetary Importance for New York Times. Next year’s sharp rise in spending on procurement will include a 55% increase in funding for new missiles by the army and a 47% boost. for The navy purchases weapons.
Jake Sullivan was Biden’s national safety adviser and put the buildup in strategic terms on Friday. He said that the war in Ukraine showed the nation had shortfalls. military To ensure that the United States is a strong industrial nation, it was necessary to address its industrial base. “able to support Ukraine and to be able to deal with contingencies elsewhere in the world”.
Lockheed Martin, one of the most important companies in the country military Contract, which had purchased more than 950 million in its own missiles military Orders from the Pentagon were issued in part in order to replenish stocks being stored in Ukraine. Raytheon Technologies has been awarded contracts worth more than $2B by the army to supply missile systems for expanding or replenishing weapons to Ukraine.
“We went through six years of Stingers in 10 months,” Raytheon chief executive Gregory J Hayes spoke out earlier in the month about 1,600 antiaircraft missiles that the company had sent to the United States. US Ukraine “So it will take us multiple years to restock and replenish.”
These contracts represent just a small part of what will be a large new defense buildup. Military spending The next year’s inflation-adjusted levels will be at their highest since peak costs for the Iraq/Afghan wars (2008 and 2011), and second highest since WWII. A level which is higher than budgets for The next 10 biggest cabinet agencies are combined.
There are more orders coming in military Contractors from US Allies in Europe, Asia as Both have agreed that more must be done to defend themselves against the rising threats from globalization. Japan voted to increase its defense spending by doubling it this month spending on defense for the next five year, leaving aside its pacifist position it has mostly maintained since 1945.
None of these figures include an estimated $18 Billion in weapons delivery by the United States, which was delayed and is still planned. These were to protect Taiwan from a future Chinese attack.
Combining the Ukraine war The growing consensus around the possibility of new superpower confrontations is prompting attempts to secure the military The industrial base is able to respond to spikes in demand. In some instances, the issue is urgent as The US The NATO Allies, and Ukraine’s Nato Allies, want weapons to continue flowing to Ukraine. They don’t wish to reduce their stockpiles to worrying levels. Ukrainian. military In a matter of weeks, the Western supplier’s missile production capacities have been exhausted.
Each year, the annual military The Senate approved Thursday’s authorisation bill, which prohibits the navy and air force from retiring any aging weapon systems. military Would like to be taken out of the service. It also includes billions in additional money for building more planes and ships than what the Pentagon requested. forThis includes $2.2 billion in total for According to the Senate Armed Services Committee, an additional navy-guided nuclear missile destroyer. There are other ways to spend your money. as A request is being considered by Congress as well for An additional $21.7 billion for Over the existing 2023 annual budget, the Pentagon has increased its allocation of money for Ukraine resupply.