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Lockheed Martin CEO: Budget Uncertainty Hurts Industry As Much As Military

By Avionics Staff | December 7, 2017

Lockheed Martin Chairman, President and CEO Marillyn Hewson speaking at the company's annual media day on March 21. Photo: Lockheed Martin

Lockheed Martin Chairman, President and CEO Marillyn Hewson speaking at the company's annual media day March 21. Photo courtesy of Lockheed Martin

Defense budget cuts and an ongoing series of stopgaps spending measures is hollowing out the U.S. defense industry as much as Pentagon leaders accuse funding uncertainty for threatening military readiness and modernization, according to Lockheed Martin's chief executive.

Speaking to the Reagan National Defense Forum in Simi Valley, California, Dec. 2, CEO Marillyn Hewson said a recent history of anemic defense budgets has driven many second- and third-tier contractors from the defense sector. That has driven down competition and increased cost of producing weapons for prime defense firms, of which Lockheed Martin is the largest.

Read the article in its entirety on DefenseDaily.com.

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