What’s in the $858 Billion Defense Budget for FY23

At the end of 2022, Congress passed the $1.7 trillion omnibus spending bill that the president then signed into law. Included in this massive budget for the government is $858 billion for US defense. This is an 8% increase from FY22, which signifies more contracting opportunities your business can take advantage of. Let’s take a look at some of the highlights that your business can prepare for.

Key Highlights of the Budget

The National Defense Authorization Act of FY23 is split between two departments: the Department of Defense, which is authorized to receive funding of $816.7 billion, and the Department of Energy, which is receiving $30.3 billion for its national security programs.

The NDAA FY23 has some interesting provisions that are worth looking at. These can be opportunities to help your company grow and strengthen your business with the military government.

• More than $10 billion in funding to support military construction
• Over $200 million for investments related to aircraft technology, electronic warfare, and 5G technology development
• $10 million to support cybersecurity
• $1 billion in funding for the National Defense Stockpile

There are other provisions that are also effective in the long term. In FY2025, the DoD requires that any non-tactical vehicles purchased or leased by the department must be EVs, hydrogen-powered, or use advanced biofuels.

Getting Notified with Military Bids Across the Country

With the Periscope S2G Military Plan, businesses like yours can get access to thousands of solicitations from different defense agencies across the country. You will also receive daily bid notifications, so you won’t miss any opportunities.

NDAA FY23 has a lot of opportunities in store for procurement. Now is the time to prepare your business - sign up today on Periscope S2G to start getting access to military bid opportunities.