US President Joe Biden has submitted a record peacetime national defence budget request of $813bn to the US Congress, for the fiscal year 2023 (FY 2023).
The request marks $773bn for the US Department of Defense (DoD), an increase of 4.1% from the FY 2022 enacted amount.
An additional $40bn will be invested in defence-related programmes at other agencies.
The budget proposes a 4.6% pay rise for military and civilian personnel, as well as allocates funding to develop and modernise capabilities to address emerging military challenges.
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It allocates $34.4bn to recapitalise all three legs of the nuclear triad, and approximately $130.1bn is for research and development.
Key investments will include $11bn for 61 F-35 Joint Strike Fighter jets and $2.8bn for 24 F-15EXs. It also plans to procure 15 KC-46 Pegasus aircraft for $2.9bn.
The budget request includes $1.1bn for 3,721 joint light tactical vehicles, $631m for 74 amphibious combat vehicles, and $381m for armoured multi-purpose vehicles.
The US will also invest $7.3bn for two Virginia-class submarines, and $5.6bn for two DDG-51 Arleigh Burke-Class Destroyers.
It has also allocated $24.7bn for missile defeat and defence, $7.2bn for long-range fires, and $27.6bn for space and space-based systems.
US Secretary of Defence Lloyd J. Austin III said: “This $773bn budget request reinforces our commitment to the concept of integrated deterrence, allows us to better sequence and conduct operations around the globe that are aligned to our priorities, modernises the Joint Force, and delivers meaningful support for our dedicated workforce and their families.”
The proposed budget now requires US Congress approval.
Earlier this month, the US’s aerospace, defence, and security industry recorded a 2% rise in IT hiring activity in February 2022.