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Industry Outlook

The budget for the Department of Defense reached an all-time high several years ago of more than $612 billion, but budget spending on defense decreased the past few years and there was little growth in the industry. A 2014 report by Deloitte Touche Tohmatsu Limited showed that the reduction of conflict in Afghanistan and Iraq and concerns over expenses are the two largest factors contributing to this flat growth. Instead of hiring new employees, the largest defense companies had been streamlining their operations to offset the lack of growth.

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