HEADLINES

  • Cobham AES appoints new CFO

    Mark Santamaria has been appointed as senior vice-president and chief financial officer (CFO) for Cobham Advanced Electronic Solutions (AES), the company announced on 29 October. He will be responsible for the financial aspects of the electronics company, including contracts, compliance, and the

  • India’s OFB wins tender to upgrade 300 M-46 field guns

    India’s Ministry of Defence (MoD) has awarded a INR2 billion (USD27.2 million) contract to the state-owned Ordnance Factory Board (OFB) to upgrade 300 of the Indian Army’s (IA’s) Soviet-era 130 mm/52 calibre M-46 field guns to 155 mm/45 calibre in a bid to augment its firepower.

  • JFLCO acquires IMIA Group's maritime businesses

    Private equity company J.F. Lehman & Company (JFLCO), which focuses on aerospace, defence, maritime, and other government sectors, has acquired several business lines from vessel services provider IMIA Group, including IMIA’s International Marine & Industrial Applicators and Craft and

  • UK MoD commits to Thales Belfast site

    The UK Ministry of Defence (MoD) has committed to securing over 100 jobs at Thales UK’s Belfast site, following a contract award for the company to upgrade high-velocity and lightweight multirole missile systems. Under the GBP93 million (USD119.3 million) Future Air Defence Availability

  • Rohde & Schwarz revenues pass EUR2 billion for first time

    Rohde & Schwarz has reported that it surpassed annual revenues of EUR2 billion (USD2.28 billion) for the first time in the 2017/2018 fiscal year ending 30 June, a 6.7% year-on-year increase. It recorded EUR2.04 billion in revenues over this period, while new orders increased by 7.4% to EUR2.21

  • Bharat Electronics posts strong quarterly gains

    Indian group Bharat Electronics Limited (BEL) has posted strong increases in turn-over and profit in the second quarter of fiscal year (FY) 2018–19, the company announced on 27 October. BEL said in a statement that its turn-over in the period, which ended 30 June, reached INR32.82 billion

  • Philippines, Spain look to finalise defence deal

    The Philippines and Spain are finalising a defence agreement through which to strengthen defence trade and industrial ties, the Department of National Defense (DND) in Manila said. The DND said in a statement on 25 October that the memorandum of understanding (MOU) on Logistics, Defence Materiel,

  • Kongsberg reports rising earnings in Q3

    Norwegian defence and maritime company Kongsberg Gruppen generated revenues of NOK3.2 billion (USD377 million) in the third quarter of its fiscal year 2018, according to results published on 26 October. Although this figure represents a slight fall from the same period in 2017, earnings before tax

  • Raytheon results show positive third quarter

    Raytheon Company reported its financial results from the third quarter of 2018 on 25 October, showing year-on-year growth of both sales and profits. The company’s sales in the period rose by 8.3% to USD6.8 billion, while income was 12.4% up at USD644 million. Performance improvement was not,

  • Textron Systems to acquire Howe & Howe Technologies

    Textron Systems announced on 25 October that it had signed a letter of intent to acquire Maine-based unmanned ground vehicle (UGV) developer Howe & Howe Technologies. Financial details of the deal were not disclosed but the acquisition is expected to close in mid-December. Howe & Howe

  • Denel denied extra funds by South African government

    Beleagured South African defence manufacturer Denel has been refused additional funds by the South African government in its Medium-Term Budget Policy Statement (MTBPS) that was announced on 24 October. In a statement published via the South African Government News Agency, the South African

  • Japan’s finance ministry calls for defence spending cuts

    Japan’s Ministry of Finance (MoF) has called for cuts in the country’s defence budget as part of continuing efforts to improve the efficiency of military spending and enhance defence industrial competitiveness. According to a document submitted by the MoF to a subcommittee of its Fiscal

  • Raytheon signs Polish Patriot production contract

    Raytheon has awarded Huta Stalowa Wola (HSW) SA, part of the PGZ Group, a contract to develop plans for Patriot Launcher production. The deal was announced on 25 October and opens the door to receiving a future production contract by HSW. According to the signed agreement, HSW will develop the US

  • Rheinmetall and Supacat sign Boxer deal

    Rheinmetall Defence Australia (RDA) has signed an agreement with Supacat in support of the Land 400 Phase 2 programme to supply Rheinmetall Boxer combat reconnaissance vehicles (CRVs) to the Australian Army. RDA said on 26 October that the new accord is the first major supply contract since

  • Russia’s Rostec takes over United Aircraft Corporation

    President Vladimir Putin signed an order on 24 October authorising the incorporation of Russia’s United Aircraft Corporation (UAC) into Rostec, the high-tech holding that controls most of Russia’s defence industry. The order, which was published on the government’s legislative

  • Defence division drives revenue increases at Boeing

    Strong contributions from Boeing’s defence, space, and security division drove the company’s revenue growth during the third quarter as commercial deliveries flatlined, the company reported on 24 October. In a conference call with analysts, CEO Dennis Muilenburg cited Pentagon and

  • Boeing India executive calls for defence offset overhaul

    Key Points The president of Boeing India says the country's defence offset policy should be 'reformed, rethought, and reset' An overhaul of offset is required to enable domestic industry to fulfil its ‘tremendous potential’, he says The President of Boeing India, Pratyush Kumar, has

  • Philippines outlines 34% defence budget increase

    The 2019 budget for the Philippines’ Department of National Defense (DND) will increase to PHP183.4 billion (USD3.4 billion), the government’s Department of Budget and Management (DBM) announced on 24 October. The DBM said that the proposed expenditure “translates to a 34.4%

  • Fincantieri, Naval Group release outline of joint venture plan

    Italy’s Fincantieri and France’s Naval Group released additional information on their industrial alliance on 23 October, with the plans of a future joint venture outlined in a statement. The joint venture, which is subject to approval by the two companies’ boards, will be jointly

  • Lockheed Martin boosts sales targets despite F-35 grounding

    Lockheed Martin has raised its financial performance targets for 2019 on the back of strong shipments of its F-35 Lightning II Joint Strike Fighter, with the company expecting its overall backlog to reach USD120 billion next year. The bullish outlook signals that the company expects minimal

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