Lockheed calls for review of sequestration
Lockheed Martin Chairman and CEO Bob Stevens has described the ‘uncertain’ consequences of sequestration as company officials outlined their visions for the next decade in the face of looming defence cuts.
Referring to the ‘meat axe’ of defence cuts which is scheduled to fall on 3 January, Stevens said the ‘near-term horizon was obscured by the fog of uncertainty’.
‘In January, defence accounts will be cut by ½ trillion dollars. There is no strategy or concept of operations for our nation that is supported by these reductions,’ Stevens continued.
‘There is no insight into how this law will be implemented.
Our news & analysis is now part of Defence Insight®
A Basic-level or higher Defence Insight subscription is now required to view this content.
More from Naval Warfare
-
![US Navy’s $275 billion BBGN plan hinges on shipyard transformation]()
US Navy’s $275 billion BBGN plan hinges on shipyard transformation
The US Navy’s planned nuclear-powered warship carries a US$275 billion price tag, but the greater story lies in the industrial overhaul needed to build it, from AI-enabled design to digital twins and modular construction.
-
![Industry sees opportunity in Australia’s shift to networked undersea warfare]()
Industry sees opportunity in Australia’s shift to networked undersea warfare
Australia’s new defence innovation strategy indicates a shift from platform-centric to network-centric undersea warfare, with Ocius and Anduril Industries pointing to fast-growing opportunities for local industry.
-
![Asia-Pacific emerges as the largest export market for US-made USVs]()
Asia-Pacific emerges as the largest export market for US-made USVs
Asian customers have placed one of the largest known international purchases of US-built uncrewed surface vessels, highlighting accelerating regional demand for autonomous maritime capabilities and distributed naval operations.
-
![RTX confirms US Marine Corps and US Navy acquire Hadalus UUV]()
RTX confirms US Marine Corps and US Navy acquire Hadalus UUV
RTX told Shephard that the Hadalus UUV has been procured by the US Marine Corps and the Office of Naval Research for operational experimentation as the company prepares additional demonstrations with the US Navy, NATO and AUKUS partners.
-
![The UK joins the movement towards joint procurement]()
The UK joins the movement towards joint procurement
The UK will spend an estimated US$3.89 billion over the next decade in joint naval programmes, a lot of which will be in cooperation with Norway.
