Inflation hits US Army modernisation plans
Procurement of Patriot MSE missiles will decrease in FY 2024. (Photo: US Army)
As the increase in the branch’s budget proposal did not cover the inflation rates, the army is losing its spending power, impacting its acquisition and development programmes.
The US Army has requested $185.5 billion to fund its activities over FY 2024. While a substantial figure, it may not be enough to support the service’s modernisation plans.
The budget proposal is $8 billion higher than the branch’s FY 2023 request ($177.5 billion), representing a 4.5% increase. However, the army’s spending power has been hit by a 6% inflation rate.
This loss in spending power is impacting the army’s acquisition and development efforts.
The service plans to acquire fewer UH-60M Black Hawks, 24 units, and fewer Patriot MSE Missiles, 230 units, in FY 2024 than it requested for the
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