The U.S. Air Force is fast-tracking weapons and equipment procurement in response to growing security threats around the world.

The initiative was announced during the during the Air Force Association's annual air and space exposition earlier in September by Air Force Secretary Deborah Lee James. Referred to as the "should schedule", the program aims to encourage security arms manufacturers to deliver programs ahead of schedule. It will start with smaller, small-arms projects, and move on to larger-scale contracts should the approach prove to work, according to Defense News.

"Unfortunately, today it takes too long to develop and field our systems," James said, "If we can collectively beat the historical developmental schedules and reward the behavior in government and industry that speeds things up, we have a real chance to make a difference."

One highly anticipated program is the U.S. Air Force's long-range strike bomber (LRS-B), which still awaits a contract. Global security corporations Lockheed Martin and Northrop Grumman have been fighting for the spot, however the program has faced several delays.

The LRS-B is meant to replace the aging fleet of B-1 and B-2 bombers. Both competitors for the assignment each have a design in hand, and have completed much of the risk-reduction process.

The Air Force promised to disclose the developmental costs for the LRS-B earlier in September.

Air Force officials remain concerned the rapid advancements of other modern militaries like Russia's and China's. Russia's military has become more active in the fight against the Islamic State.