news flash·2025-06-26 06:17Core Viewpoint - President Trump aims to reduce the procurement of F-35 fighter jets in the fiscal year 2026 while increasing investments in high-tech missiles and drones, alongside cuts in naval personnel and the procurement of ships and fighter jets to control spending [1] Defense Budget Overview - The total U.S. defense and national security budget for the upcoming fiscal year is set at $892.6 billion, remaining largely unchanged from the current fiscal year [1] - The budget proposal includes a 3.8% pay raise for military personnel, but also plans to retire some older, high-operating-cost ships and aircraft to save costs [1] Procurement Changes - The procurement quantity for Lockheed Martin's F-35 fighter jets has been reduced, with only three ships planned for construction in the fiscal year 2026 [1] - The Navy is expected to include the procurement of a Virginia-class submarine, built by General Dynamics and Huntington Ingalls Industries, along with 15 other ships in a separate funding bill [1] Drone Investment - There is a significant increase in funding for small drones, influenced by lessons learned from the Russia-Ukraine conflict, highlighting drones as a low-cost yet highly effective core component of military operations [1]