Report: Defense needs better development cycle.

Byline: John Nolan

Apr. 3--The Department of Defense needs to reduce the time it takes to develop and deliver new weapons systems to save money for both new warplanes and older military aircraft that need maintenance, federal investigators said Monday.

Increased costs and extended development times have reduced the Defense Department's buying power and are cutting into the amount of money available to either keep older planes flying or to replace them with new ones, the Government Accountability Office said in its 87-page report. The Pentagon needs an integrated strategy across the military services for investing in new fighter jets, according to the GAO, …