Defense Business Briefing -- March 26, 2024

Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.

This week's top story

Strategic capital chief says first funds for new DOD loan program to be issued in coming months

The head of the Defense Department's strategic capital office said the department, for the first time ever, now has a loan program that can help small companies, predicting the first funds could be licensed in the coming months.

News & notes

Navy sends $3.7 billion unfunded priority list to Congress

The Navy has submitted a $3.7 billion list of "unfunded priorities" to Congress, including $403 million in additional funding for the submarine industrial base workforce and supplier development as its top item, according to a document obtained by Inside Defense.

Next round of APFIT awards waiting on budget from Congress

A senior Pentagon official said the next round of awards through DOD's Accelerate the Procurement and Fielding of Innovative Technologies, known as APFIT, is ready to be released, pending congressional budget approval.

Appointments & promotions

Boeing CEO, board chairman to step down

Boeing President and CEO Dave Calhoun has announced he would step down at the end of 2024, while Chairman of the Board Larry Kellner said he wouldn't stand for re-election at the company's upcoming annual shareholder meeting.

What's happening

The week ahead

Two major military service associations host annual conferences this week, while senior defense officials are scheduled to speak at several events around Washington.

For Inside Defense subscribers

DOD corrects Replicator inaccuracy, providing rare glimpse into budget decision process

Amid news of Congress allotting $200 million to the secretive Replicator program in a new spending deal, senior defense officials told Inside Defense in an exclusive interview that an inaccuracy was made in Replicator's published -- and later corrected -- fiscal year 2025 budget request, leading to an inside look at the Pentagon's internal decision-making process.

Air Force submits $3.5 billion unfunded priorities list to Congress

The Air Force is asking Congress for $3.5 billion to cover unfunded priorities mostly related to the service's recently announced structural shakeup to better prepare for conflict with a near-peer adversary, according to a document obtained by Inside Defense.

DOD tech chief submits $81.5M unfunded priorities list

Pentagon technology chief Heidi Shyu has sent Congress an $81.5 million unfunded priorities list for fiscal year 2025, keying two programs that would provide additional capabilities to U.S. Indo-Pacific Command, according to a document obtained by Inside Defense.