The US Congress passed the 2024 National Defense Authorization Act (NDAA) to provide a record $886 billion in defense spending, a 3% increase in 2023, representing an increase of $28 billion.
Within the bill it is responsible for the supply of a maximum of 13 Virginia– class submarinesand directs the Secretary of the Navy to conduct an analysis of approaches to the development of a tenth aircraft carrier and associated air wing.
The bill includes a ban on using funds to reduce its fleet KC-135 aerial refueling tanker or to reduce HH-60W combat rescue helicopters and limit the retirement of no more than 68 F-15E aircraft.
The budget includes an increase in operating cost spending, offering a 5.2 percent boost to service members’ base pay, above the 3.1 percent base rate of inflation seen in 2023.
Get access to the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain a competitive edge.
Company Profile – free sample
Your download email will arrive shortly
We are confident in the unique quality of our company profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the form below
From GlobalData
Observers expect signs of continued sustained support for the Ukraine they will have to continue to wait, as only $300 million has been allocated to the Ukraine Security Assistance Initiative. A separate $105 billion national security package has been requested by Biden for aid to Ukraine and Israel, but has so far not been approved.
With $4.4 billion left in the Presidential Withdrawal Authority and $1 billion in replacement funds, Pentagon Press Secretary Lt. Gen. Pat Ryder said that as those funds begin to dwindle, the U.S. will have questions about its preparedness and their ability to support Ukraine in the way they need to be supported on the battlefield, adding that the Pentagon is urging Congress to approve additional funding for additional support to Ukraine.
The NDAA includes a $14.7 billion Pacific Deterrence Initiative to build institutional capacity for military force in Taiwan and deter aggression by China in the Indo-Pacific theater. The initiative also implements the aspects of the AUKUS agreement related to the sale of nuclear-capable submarines to Australia.
Our signal coverage is powered by Topic Engine by GlobalData, which tags millions of data items in six alternative datasets — patents, jobs, deals, company filings, social media mentions, and news — across topics, sectors, and companies. These signals enhance our predictive capabilities, helping us identify the most disruptive threats in each of the sectors we cover and the companies best suited for success.
Read the original at Defence247.gr
