This report is the second in an annual series examining trends in what the U.S. Department of Defense (DoD) is buying, how DoD is buying it, and from whom DoD is buying. This year’s study looks in depth at issues in research and development, acquisition reform in the FY2017 National Defense Authorization Act (NDAA), performance of the defense acquisition system, the future of cooperative International Joint Development Programs, and major trends apparent in the activities of the major defense components. By combining detailed policy and data analysis, the study provides a comprehensive overview of the current and future outlook for defense acquisition.