Executive Mosaic’s GovCon Index fell -1.89% on Friday to settle at $4,495.05, a new low. The index, which tracks the stock performances of 30 major government contractors, lost -1.77% for the week and posted its fifth consecutive weekly loss. The decline in the Index of Consumer Sentiment due to higher inflation expectations was the headwind...
BAE Systems has secured a new contract valued at $251 million from the U.S. Navy to supply critical system engineering and on-site technical support to the AEGIS Technical Representative organization. The company said Monday that the deal will support not just the U.S. Navy, but also the Missile Defense Agency and foreign military sales customers.&n...
BAE Systems has landed a $1.2 billion contract modification from the U.S. Air Force for continued provision of engineering services. BAE Systems as ICBM Weapons Integrator The Department of Defense said Thursday the modification to the initial $1.94 billion contract, raises the total potential value to $3.13 billion. The award is intended to extend ...
Julia Laurenzano MacDonough, a seasoned military and civil space professional, has been appointed vice president and general manager for Air Force and missile defense strategic systems at Draper. The Cambridge, Massachusetts-based company said Wednesday MacDonough will manage Draper’s research, development and production programs for the...
Space infrastructure provider Loft Orbital has raised $170 million in a round of Series C financing led by Tikehau Capital and Axial Partners. The San Francisco-based company said Tuesday it plans to use the capital to further support its operations, advance the launch of satellites for multiple constellations and grow its ecosystem of artificial in...
American Rheinmetall has named Rob Selle, a nearly three-decade product development executive, as vice president of program management and product support. Selle announced his new position in a LinkedIn post published Sunday. Rob Selle’s Industry Background According to his LinkedIn profile, he joined American Rheinmetall from U.S. vehicle man...
The State Department has approved Egypt’s three foreign military sales requests worth approximately $5.3 billion combined for Abrams tank refurbishment, Hellfire AGM-114R missiles, Advanced Precision Kill Weapon Systems, or APKWS, and related equipment and support services. The Defense Security Cooperation Agency said Friday it has already not...
The State Department has approved a request from South Korea to procure items intended to enhance its fleet of KDX-II destroyers. The potential foreign military sale, valued at an estimated $300 million, also covers related logistics supporting the nation’s KDX-II Class Destroyers Product Improvement Program, the Defense Security Cooperation ...
BAE Systems’ land and armaments business segment has received a U.S. Army contract worth approximately $656.2 million to produce M2A4 and M7A4 Bradley infantry fighting vehicles for the military branch. The Department of Defense said Wednesday Army Contracting Command at Detroit Arsenal in Michigan will obligate funds and determine work locations ...
The State Department has approved the government of Kuwait’s request to purchase maintenance, repair and sustainment services and military equipment for an estimated cost of $300 million. The Defense Security Cooperation Agency said Tuesday BAE Systems, U.S. Ordnance, DRS Technologies, L3Harris Technologies, Northrop Grumman and RTX will ser...
