HEADLINES

  • Boeing feels more financial pain from 737 MAX issue

    Boeing warned on 18 July that its second-quarter (Q2) results announcement on 24 July will “recognise an impact to earnings” connected with its grounded B-737 MAX aircraft. Civil aviation regulators worldwide ordered 737 MAX operations to cease in March, after two fatal airline crashes.

  • New orders slip but Saab H1 profits soar

    Saab registered higher year-on-year sales and operating profits in the first half (H1) of 2019, despite a 23.3% drop in new orders. Revenues improved by almost 8% compared with the first half of 2018 to SEK16.94 billion (USD1.8 billion) and by 7% organically, Saab announced on 19 July, due partly

  • Russia’s Central Military District receives AK-12 assault rifles

    Russia’s Central Military District (CMD) has begun receiving Kalashnikov AK-12 5.45 mm assault rifles, the Ministry of Defence (MoD) announced on 17 July. “The first 8,000 [AK-12] assault rifles have been delivered to the CMD’s units and formations. The AK-12 is a new platform,

  • US Army ready to extend PrSM range, delays flight testing due to subcontractor ‘accident’

    US Army leaders are looking for test sites to fly two vendors’ Precision Strike Missile (PrSM) offerings beyond the 499 km capped range agreed to in the 1987 Intermediate-Range Nuclear Forces (INF) Treaty if Washington does withdraw from the treaty next month. Vendors will likely make software

  • USN Vice Admiral Gilday nominated to be next CNO

    US Navy (USN) Vice Admiral Michael Gilday has been nominated for a promotion to admiral and appointment to be the new USN chief of naval operations (CNO), acting Secretary of Defense Richard Spencer announced on 18 July. Vice Adm Gilday, who is currently serving as director of the Joint Staff, is

  • India’s defence exports continue to grow

    Indian defence exports climbed to about INR107.45 billion (USD1.5 billion) in fiscal year (FY) 2018-19, according to media reports in the country citing the Indian Ministry of Defence’s (MoD’s) annual report for the year. The new export figure, which is based on defence export

  • Naval Group proposes CANTO partnerships in Australia

    Naval Group has submitted a proposal to the Australian government to partner with local industry to produce its CANTO anti-torpedo decoys for the Royal Australian Navy (RAN), the company has announced. Naval Group said that its proposal contains a commitment to transfer skills and knowledge to

  • Serco, MoD settle legal dispute over firefighting contract

    Serco Group announced on 18 July that it has reached a settlement with the UK Ministry of Defence (MoD) to resolve a legal dispute around the Defence Fire and Rescue Project (DFRP) tender. Serco had challenged a decision by the MoD to award the contract to rival outsourcing bidder Capita but it is

  • Aerospace propels Honeywell in Q2

    Aerospace sales helped Honeywell to increase organic revenues by 5% year on year in the second quarter (Q2) of 2019. Reported sales fell by 15% in the three months to 30 June, which the US-based company partly attributed to the effects of spinning off its Transportation Systems from its Aerospace

  • Chile’s plan to scrap Copper Law gains Senate approval

    Chile’s Senate has unanimously approved changes to the Ministry of Defence’s funding regulations, prompting defence minister Alberto Espina to comment on a “historic change” that could increase the transparency of military financing. The upper house approved the change to

  • Finland reports defence exports increase

    Finnish defence exports jumped to EUR128.3 million (USD143.9 million) in 2018 on the back of transfers of armour plating to Turkey, armoured vehicle components to Poland, and aircraft components to Sweden. The 2018 total compares with EUR106.4 million in 2017. This marked a 21% increase over the

  • India close to signing agreement to make spares for Russian-made equipment

    India and Russia are close to signing an intergovernmental agreement (IGA) that would allow for the transfer of technology to Indian companies to locally produce assorted spare parts and components for Russian-made equipment used by the Indian military. Official sources told Jane’s on 18 July

  • South Korea’s DAPA launches ‘cost structure’ reforms

    South Korea’s Defense Acquisition Program Administration (DAPA) has announced plans to reform defence procurement, with an emphasis on encouraging local industry cost effectiveness and investment. The reforms are the latest in a series of measures intended to align DAPA’s business

  • India initiates scheme to boost defence MSMEs

    The Indian Ministry of Defence (MoD) has launched a scheme to promote the increased participation of domestic small businesses in defence development and production activities. The “scheme for the promotion of MSMEs [micro, small and medium-sized enterprises] in defence” –

  • BMWi figures show higher German exports

    Germany granted export licences for EUR5.3 billion (USD6.1 billion) worth of defence equipment in the first six months of 2019, surpassing the full-year 2018 total of EUR4.8 billion, according to a report by the Federal Ministry for Economic Affairs and Energy (BMWi). The BMWi provided the data in

  • Naval Group rides wave of international orders

    Naval Group received more orders in the first six months of 2019 than the entire 2018 calendar year, the France-based shipbuilder announced on 17 July. International customers generated almost 70% of the EUR3.9 billion (USD4.38 billion) in orders during the first half (H1) of 2019. This means that

  • Sovereign wealth fund should support defence industry, says VEB vice-chairman

    Russian defence equipment manufacturers should be offered long-term, low-interest loans from the country’s sovereign wealth fund, a senior executive at Vnesheconombank (VEB) has said. Andrei Klepach, a former deputy economic development minister who is now vice-chairman of VEB, suggested on

  • UAE set to apply new FDI law

    The government of the United Arab Emirates (UAE) is set to confirm that the defence industry will be excluded from a list of sectors open for 100% foreign direct investment (FDI). Federal Law No. 19 of 2018 is expected to come into effect by 30 July 2019, after the UAE Federal Cabinet approved it

  • Textron raises full-year EPS guidance despite Q2 dip in revenues

    Textron has reported a USD500 million year-on-year drop in revenues for the second quarter of 2019, although it has improved its pre-tax profit margin and delivered higher earnings per share (EPS). Commenting on 17 July, Chairman and CEO Scott Donnelly hailed a “solid margin performance

  • Austal projects strong growth for 2019–20

    Australian shipbuilder Austal has raised its earnings outlook based on the growing productivity of its shipyards in Asia, the company said on 16 July. Austal said that in fiscal year (FY) 2019, which ended 30 June, it expects EBIT of approximately AUD92 million (USD64.5 million) and revenues of

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