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The US Army has awarded Raytheon a $2b contract to begin the initial production of the LTAMDS radars, a system set to replace the current Patriot radars
Aug. 2, 2024 - The Lower Tier Air and Missile Defense System, part of a broader plan to enhance US defenses in locations like Guam, will also be sold internationally, with Poland being the first foreign customer. (Breaking Defense)
Aug. 2, 2024 - The Lower Tier Air and Missile Defense System, part of a broader plan to enhance US defenses in locations like Guam, will also be sold internationally, with Poland being the first foreign customer. (Breaking Defense)
BAE Systems has raised its profit forecast for the year following £15bn in new orders which includes contracts for warships and fighting vehicles
Aug. 1, 2024 - Amid heightened geopolitical tensions, CEO Charles Woodburn emphasized the importance of military spending for economic growth and expressed confidence in ongoing defense programs. The company reported a 13% rise in sales to £13.4bn and expects profits to increase by 12-14%, with shares up over 17% since January. (Financial Times)
Aug. 1, 2024 - Amid heightened geopolitical tensions, CEO Charles Woodburn emphasized the importance of military spending for economic growth and expressed confidence in ongoing defense programs. The company reported a 13% rise in sales to £13.4bn and expects profits to increase by 12-14%, with shares up over 17% since January. (Financial Times)
TransDigm Group Incorporated has completed its $655m cash acquisition of Raptor Scientific
July 31, 2024 - The acquisition, financed through TransDigm's cash reserves, was first announced on May 28, 2024. Raptor Scientific, expected to generate $90 million in revenue for 2024, employs around 170 people across multiple U.S. locations. (PR Newswire)
Boeing has appointed Kelly Ortberg, as its new CEO, an aerospace industry veteran and former CEO of Rockwell Collins
July 31, 2024 - Ortberg will face challenges including cultural changes, union contract negotiations, and next-generation plane development. Industry experts commend Ortberg for his leadership skills and deep aerospace knowledge, considering him a strong choice to lead Boeing through its next chapter. (New York Times)
July 31, 2024 - Ortberg will face challenges including cultural changes, union contract negotiations, and next-generation plane development. Industry experts commend Ortberg for his leadership skills and deep aerospace knowledge, considering him a strong choice to lead Boeing through its next chapter. (New York Times)
Boeing's KC-46 tanker is facing a new high-risk deficiency related to faulty fuel pumps damaging air system ducts, adding to existing unresolved issues
July 30, 2024 - While Boeing and the Air Force are working on temporary repairs and long-term fixes, the program has already incurred over $7b in charges. Despite these challenges, the Air Force remains optimistic about Boeing's efforts to address quality issues. (Defense News)
July 30, 2024 - While Boeing and the Air Force are working on temporary repairs and long-term fixes, the program has already incurred over $7b in charges. Despite these challenges, the Air Force remains optimistic about Boeing's efforts to address quality issues. (Defense News)
