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.
Already have an account? Log in
Want to keep reading this article?
Read this Article
Get access to this article with a Free Basic Account
- Original curated content, daily across air, land and naval domains
- 1 free story per week
- Personalised news alerts
- Daily and weekly newsletters
- Free magazine subscription to all our titles
- Downloadable equipment data handbooks
- Distribution rights (Corporate only)
Unlimited Access
Access to all our premium news as a Premium News 365 Member. Corporate subscriptions available.
- Original curated content, daily across air, land and naval domains
- 14-day free trial (cancel at any time)
- Unlimited access to all published premium news
- 10-year news archive access
- Downloadable equipment data handbooks
- Distribution rights (Corporate only)
More from Naval Warfare
-
![South Korea approves naval minesweeper programme]()
South Korea approves naval minesweeper programme
A new class of minesweeper has been approved for the ROK Navy, while another Daegu-class frigate has been commissioned.
-
![Netherlands donating two minehunters to Ukraine]()
Netherlands donating two minehunters to Ukraine
The Netherlands will also supply Kyiv with drone detection radars and M3 bridge and ferrying systems to enable rapid river crossing.
-
![Thales teams up for Australian naval sustainment]()
Thales teams up for Australian naval sustainment
Thales Australia will partner with USN contractor Orbis Sibro on fleet sustainment operations for the Royal Australian Navy in Sydney.
-
![TMKS seeks to leverage Wismar shipyard for F127 bid]()
TMKS seeks to leverage Wismar shipyard for F127 bid
German shipbuilder TKMS plans to leverage its new Wismar shipyard for its proposal for the F127 anti-air warfare frigates for the German Navy, using the proven MEKO family design.
-
![Australia’s pathway to AUKUS submarines is attended by risk]()
Australia’s pathway to AUKUS submarines is attended by risk
Australia's journey towards obtaining nuclear-powered attack submarines is fraught with financial, technical and political risk.
