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Defense Industry Finds Optimistic Message at Paris Air Show

Photo: www.paris-air-show.com

As top defense-industry officials gather for the biennial exposition of top military and aerospace weaponry and technology that is the Paris Air Show, they may come home with a more optimistic message than the doom and gloom of budget cutting and deficits.

According to a report in The Wall Street Journal, both industry and government increasingly believe “painful” defense cuts will be put off for at least a year or two.

That’s because just-confirmed Defense Secretary Leon Panetta, along with a slate of new faces at the Pentagon, will first complete a strategic review to assess spending plans, WSJ reports.

Cited as evidence of the delay on spending cuts are pronouncements from defense officials, such as Air Force Service Acquisition Executive David Van Buren’s contention that the Pentagon would not follow the same path of weapons scaleback that it did following the dissolution of the Soviet Union and the end of the Cold War in 1991.

Actions speak loud as well, and WSJ reports that top contractors, such as Lockheed Martin and Boeing, “appear to be preparing for an initial period of relatively stable funding.”

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