With cyber as one of the few near term growth opportunities within the U.S. defense budget, we are growing increasingly concerned that small, innovative companies will get crowded out by larger, more entrenched players from an investment and visibility standpoint.
This week, U.S. Representative Buck McKeon, a California Republican and chairman of the House Armed Services Committee, proposed a new legislation that reduces the federal workforce in order to offset one year of sequestration. The bill calls for a ten percent reduction in the federal workforce, including civilian employees and bases across the country, over the next ten years through the process of attrition.
This week, Iranian state television aired footage of an intact U.S. RQ-170 Sentinel UAV that allegedly crashed in Iranian territory. The UAV was part of a stealth reconnaissance mission to map suspected nuclear sites, according to foreign officials. Iranian officials claim to have brought down the aircraft by using cyberwarfare to hack the drone’s electronic system. The effects of the loss could be devastating as there is the potential for reverse engineering of the highly-classified technology.
2011 I/ITSEC Conference – A Multi-Football Field Sized Arcade for Government and Defense Professionals
I walked the exhibition floor at the 2011 I/ITSEC conference in Orlando earlier this week where industry and government professionals travel from around the world to showcase, collaborate, and buy leading-edge training and simulation technologies. Most exciting, where else can an investment banker fly a helicopter and fighter jet, and shoot a buffet of firearms? All simulations of course.
This week, the Obama administration released a proposed 2013 base defense budget of $523.4 billion with an additional $82.5 billion for contingency operations, a combined one-year reduction of about $47 billion in the base budget. The bill, which still must be approved by Congress, represents progress in a time of government stand-still and provides a more optimistic view of the government’s ability to finalize budgetary decisions in the wake of the recent Super Committee failure.
The November 23rd deadline came and went, and the 12-member bi-partisan Joint Select Committee on Deficit Reduction, the so-called Super Committee, did not reach agreement on a single measure to reduce the growing government debt of approximately $15 trillion. The military branches have expressed alarm that the DoD will be saddled with budget cuts beyond the planned $450 billion over the next 10 years.
Did you know 90% of the world’s data was created in the last two years? Given the digital enablement of various business artifacts, this proliferation of data will continue, but more data are becoming neglected or not utilized. This growing torrent of information has created a new market opportunity called “Big Data”.
This week, the Joint Select Committee, better known as the “Super Committee,” failed to identify $1.2 trillion in reductions to the federal deficit. The committee’s failure triggers automatic spending cuts and sequestration beginning in 2013. If defense budget cuts are not softened, the defense base budget in 2013 would be cut to approximately $472 billion, nearly $100 billion under the Pentagon’s 2012 budget request for the following year.