While some Republican lawmakers are criticizing the Obama administration's plan to cut the Pentagon budget, and thousands of soldiers will be forced to leave the ranks, defense industry analysts say the move isn't likely to put big defense contractors out of business.
"Our military industrial complex will survive," Kevin Ryan, a retired Army officer and executive director at Harvard University’s Belfer Center for Science and International Affairs, told National Defense magazine, an industry publication.
"We are still spending a huge amount,” Ryan said. "Panetta [has made it clear] he will try to protect the military industrial base. … You won’t see [top tier contractors] Raytheon or Lockheed closing."
Industry analyst say defense company's have already cut jobs and become more efficient in anticipation of fewer military dollars.
"We could see the writing on the wall,” David Melcher, CEO of ITT Exelis, told National Defense. "We anticipated the top line was going to come down."
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