Defense Business Briefing -- Feb. 20, 2024

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

This week's top story

SECNAV vows to hold companies accountable for poor performance

SAN DIEGO -- Navy Secretary Carlos Del Toro is questioning the defense industry's commitment to delivering naval capabilities on time and on budget, suggesting some unnamed companies are prioritizing stock prices and executive compensation over necessary capital investments, and promised to take legal action to ensure taxpayers receive adequate return on investment.

News & notes

DOD officials outline key provisions in CMMC proposed rule, upcoming acquisition requirements

Pentagon officials are providing an overview of major ecosystem components and upcoming regulations for the Cybersecurity Maturity Model Certification program in a new recorded video posted in advance of a Feb. 26 public comment deadline for the first rulemaking and eight draft guidance documents.

Army selects initial 15 companies for new xTechPrime small business initiative

The Army selected 15 small businesses for its initial xTechPrime initiative -- a new program that connects small businesses with technology integrators.

BAE wins government approval to buy Ball Aerospace

BAE Systems announced this morning that it has received regulatory approval to buy Ball Corp.'s Ball Aerospace business unit for $5.5 billion.

What's happening

The week ahead

Senior defense officials are scheduled to speak at several public events this week.

For Inside Defense subscribers

'Completely misaligned': Navy officials sound alarm on budgetary dysfunction

SAN DIEGO -- With the release of the Pentagon's fiscal year 2025 budget request only weeks away and no FY-24 appropriations in sight, senior Navy officials this week raised the alarm on the consequences of budgetary dysfunction and the possibility that it could stretch to a full year, citing serious funding misalignments and impaired military readiness.

Air Force to host first multicombatant command exercise in Indo-Pacific in 2025

DENVER -- Key to the Air Force's massive reoptimization plan to ensure readiness and prepare for future conflict is conducting large-scale and complicated exercises, senior Air Force officials said throughout the Air and Space Force Association's Air Warfare Symposium here.