Huntington Ingalls Industries CEO Mike Petters said thatÂ industry needs “clear signals”Â from the government to determine the focus of new investments asÂ contractors work toÂ drive down long-term costs, Reuters reported Monday.
Petters saidÂ that continued budget uncertainty and other Defense Department priorities prevent vendors from investing or pursuing research onÂ new technologies or processes,Â Andrea ShalalÂ writes.
“It sort of feels like we’re saving money, because we’re keeping the numbers down, but in fact we’re making the things that we want to buy… more expensive,” Petters told Reuters in anÂ interview.
He noted thatÂ companies take cues from the government on potential investment areas and sales leads.
Shalal reports that Petters alsoÂ believes lawmakers will eventually decide on lifting the budgetÂ sequester and hopes they willÂ fundÂ weapons research and other defense procurement activities.