PPA - Air Force looks like biggest winner in Pentagon's planned $773B budget

The Biden administration's proposed $773B Defense Department budget for the fiscal year starting October 1 represents 4.2% nominal growth or 1.5% real growth after accounting for inflation compared with the $742B final appropriation for the current fiscal year. According to a Bloomberg review of the proposed FY 2023 Pentagon budget, the Air Force looks like the biggest winner among the military services, with real growth of 8% to $194B. The Air Force's decision to cut 15 Lockheed Martin (NYSE:LMT) F-35 jets from its budget request is a temporary dip caused in part by delays in a software upgrade that "has not been what we wanted" and the need to shift funds to new aircraft, Air Force Secretary Frank Kendall said, adding that the long-term plan to buy 1,763 of the fighter jets has not changed. Overall, the DoD is requesting $11B to buy 61 F-35s, down from a previously planned

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Air Force looks like biggest winner in Pentagon's planned $773B budget