Lockheed Martin Corp., the world’s No. 1 defense contractor, would benefit from increased spending on its troubled F-35 fighter and Littoral Combat Ship programs as well as orders for additional C-130 transports under the Pentagon’s proposed $526.6 billion budget.
The Pentagon will request $9.16 billion for missile defense programs for the 2014 fiscal year that begins Oct. 1, about $550 million less than this year’s $9.71 billion, according to internal budget figures obtained by Bloomberg News.
Defense contractors wouldn’t feel the full effect of automatic budget cuts for three or four years as weapons programs are facing only a 3.5 percent reduction next year, according to an independent research group.
The Pentagon has offered little guidance to contractors that may be hurt by $46 billion in defense-spending cutbacks over the next seven months, even as a budget document showed the effect on procurement accounts that pay companies from Lockheed Martin Corp. to Raytheon Co.