在海军建设方面，新预算仅计划建造三艘军舰。海军方面表示，一艘由通用动力公司与亨廷顿·英戈尔 斯工业公司联合建造的"弗吉尼亚级"潜艇，以及其他15艘军舰的采购将纳入单独的拨款法案中。为控制 开支，预算提案通过退役部分运行成本较高的老旧舰船和飞机来节省资金。海军将裁减7286名文职人 员。 与此同时，预算方案大幅增加了对小型无人机的投入。这一调整部分源于从俄乌冲突中获得的经验教 训，无人机已被证明是低成本且高度有效的作战装备。 智通财经APP获悉，据报道，美国总统特朗普提出的2026财年国防预算为8926亿美元，与2025财年基本 持平，重点将放在提高军人薪酬、加大对高科技导弹和无人机的投资，同时削减海军职位和舰船采购。 据悉，特朗普政府决定减少对洛克希德·马丁(LMT.US)生产的F-35战斗机的采购，2026财年计划采购47 架F-35战斗机，低于前总统拜登任期最后一年计划采购的68架。 这一预算调整反映了美军战略重点的转变。高技术导弹和无人机技术的快速发展，正在改变现代战争的 作战模式。无人机在实战中展现出的成本效益优势，促使军方重新评估装备采购策略。特朗普政府希望 通过减少传统有人战斗机采购，将更多资源投 ...

Core 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]

华盛顿的贸易谈判桌上，美国商务部长推给印度一杯看似甜美的"毒酒"——只要新德里终止采购俄罗斯武器、退出金砖组织，就能减免数十亿美元关税。这 剂药方短期止痛，长期致命，印度此刻正站在战略十字路口。 有人可能问：印度不能硬气点？看看经济账就懂了。美国关税大棒一挥，印度GDP直接掉0.8%，比疫情还狠。而"印度制造"喊了十年，制造业反从GDP的 16%缩到14%。苹果供应链宁愿蹲在郑州也不去班加罗尔——为啥？印度工人效率只有中国七成，零件进口还卡着26%关税。这死循环怎么破？ 美国商务部长卢特尼克上个月把话挑得多明白："买俄罗斯武器就是触怒美国！" 这话听着像警告，实则是交易——印度放弃俄制S-400防空导弹和苏-30战机 维护合同，美国就松开关税枷锁。印度人心里跟明镜似的：去年美国加征26%关税后，自家海鲜出口暴跌20%，苏拉特钻石加工厂70万工匠面临失业。好比 超市保安突然要求查你的购物小票，不配合就别想进门。 当印度海军未来用天价美国鱼雷巡逻阿拉伯海，当金砖银行撤资导致电厂停建，这杯"毒药"的后劲才会真正发作。美国关税战从来不是经济账，而是套住南 亚大国的战略绞索——今天用关税换武器，明天就会用芯片换选票。历 ...

Financial Data and Key Metrics Changes - The company aims to increase throughput by 20% this year compared to last year, alongside significant cost savings across all business segments [3] - The company has a free cash flow guidance of $300 million to $500 million for the year, with performance on ship deliveries and contract negotiations influencing the outcome [112] Business Line Data and Key Metrics Changes - The company secured two ships under contract in Block V at the end of Q1, with plans to contract the next 15 submarines, which will provide a solid workload for the next 15 to 20 years [3][9] - The company is focused on improving retention and increasing outsourcing and insourcing to enhance throughput [31] Market Data and Key Metrics Changes - There is significant demand for both defense and commercial shipbuilding, with the company expressing confidence in the outlook for the next decade [6][9] - The company has seen a stable supply chain post-COVID, with investments flowing into the supply chain helping to stabilize operations [26] Company Strategy and Development Direction - The company is prioritizing execution in shipbuilding, with a focus on increasing throughput and reducing costs [3] - The establishment of a White House office for shipbuilding is viewed positively, as it provides a voice for the administration to the Navy and Congress [12][13] Management's Comments on Operating Environment and Future Outlook - Management is optimistic about the support for shipbuilding from the government and believes that the demand will continue to grow [6][9] - The company is working closely with the Navy and Electric Boat to analyze investments required to increase throughput and achieve necessary margins [59] Other Important Information - The company is addressing labor challenges by focusing on hiring more experienced personnel and increasing wages to attract high-quality individuals [22][56] - The company has a significant backlog in Mission Technologies, with nearly $12 billion in awards last year, indicating strong performance in that segment [101] Q&A Session Summary Question: What are the company's most important priorities right now? - The company emphasizes execution, increasing throughput, and securing new contracts as its main priorities [3] Question: How does the reconciliation bill impact shipbuilding? - Management believes the reconciliation bill provides significant support for shipbuilding, although the specifics of its interaction with the 2026 budget are still unclear [6] Question: What is the outlook for the Columbia Class Bill? - The company reports that the second boat is progressing well, with significant learning from the first boat leading to improved cost performance [44] Question: How is the company managing labor challenges? - The company is focusing on hiring experienced workers and increasing wages to reduce attrition and improve workforce quality [22][56] Question: What are the expectations for future cash flow? - Future cash flow will depend on executing ship deliveries and achieving throughput goals, with potential for higher cash flow if these targets are met [112] Question: What is the company's strategy for Mission Technologies? - The company is bundling capabilities in electronic warfare, C5ISR, and uncrewed vehicles to pursue government contracts effectively [99][100]