The Obama administration rolled out a proposed Fiscal Year 2016 defense budget of $585.3 billion on February 2. Nearly $50 billion would be spent on aircraft and related systems during the fiscal year, which begins in October.

The overall request consists of a base budget of $534.3 billion and $50.9 billion for overseas contingency operations (OCO), including transition costs in Afghanistan and continuing operations against ISIL militants. The requested base budget represents an increase of $38.2 billion or 7.6 percent above the FY2015 enacted level; the requested OCO budget is $13.3 billion, or 21 percent, lower than the current enacted level. The request is $36 billion more than the cap that could be imposed on defense spending, if the sequestration mandated by Congress in the Budget Control Act (BCA) of 2012 returns. In Fiscal Years 2014 and 2015, Congress relaxed the application of the BCA. "At full sequestration cap levels, our defense strategy will become brittle," said Deputy Secretary of Defense Bob Work.

For aircraft, the FY2016 request includes $10.6 billion to purchase 57 Lockheed Martin F-35 Joint Strike Fighters; $3.4 billion for 16 Boeing P-8 Poseidons; $3 billion for low-rate initial production of 12 Boeing KC-46A tankers; $1.2 billion for development of the long-range strike bomber; $821 million for 29 General Atomics MQ-9 Reapers; and $548.8 million for three Northrop Grumman MQ-4C Tritons.

The $48.8 billion proposed spending on aircraft and related systems includes $19.7 billion for combat aircraft, $9 billion for cargo aircraft and $2.9 billion for unmanned aircraft systems.