The U.S. Navy has awarded eight companies positions on a potential 10-year, $4.1 billion follow-on contract to provide production units, software, laboratory equipment, spares and system components for surface, shore and submarine platforms in support of the service branch’s Consolidated Afloat Networks and Enterprise Services program. CANES is th...
The State Department has approved Poland’s request to buy from the U.S. government M1A1 Abrams main battle tanks, other vehicles and related equipment through a potential $3.75 billion foreign military sales agreement. The Defense Security Cooperation Agency said Tuesday there will be 12 prime contractors on the proposed FMS transaction, which inc...
A new McAleese & Associates report shows defense prime contractors recorded a 3 percent increase in sales during the third quarter of 2022 and sector operating margin of 11 percent. Jim McAleese, founder of McAleese & Associates and a three-time Wash100 winner, offered an analysis of the Q3 financial performance of Lockheed Martin (NYSE: LMT...
General Electric (NYSE: GE), L3Harris Technologies (NYSE: LHX), Textron (NYSE: TXT) and Veritas Capital are among the companies that have expressed interest in acquiring Aerojet Rocketdyne (NYSE: AJRD), which has an estimated market valuation of $4 billion, Reuters reported Wednesday. Citing unnamed sources, Reuters noted the El Segundo, California-...
Tom Gentile, president and CEO of Spirit AeroSystems, and Ted Colbert, president and CEO of Boeing’s (NYSE: BA) defense, space and security business, have been elected to serve as chairman and vice chairman, respectively, of the Aerospace Industries Association’s board of governors for 2023. Eric Fanning, a previous Wash100 awardee, will continu...
Kirk Riggs, a U.S. Air Force veteran and a former executive at L3Harris Technologies (NYSE: LHX), has been appointed vice president of strategy and business development operations within the intelligence group at Leidos (NYSE: LDOS), according to a LinkedIn post published Monday. While at L3Harris, Riggs oversaw similar functions under the company&#...
L3Harris Technologies‘ (NYSE: LHX) board of directors has approved a plan to repurchase another $3.0 billion of its common stock. The Melbourne, Florida-based defense technology supplier said Friday the additional stock re-acquisition will bring total buyback authorization for L3Harris to approximately $4.5 billion. Stockholders of record as o...
L3Harris Technologies (NYSE: LHX) has made an investment in Seasats to drive collaborative development and advance the production of the latter’s X3 autonomous surface vehicle designed for military and commercial applications. Daniel Gittsovich, vice president of corporate strategy and development at L3Harris, said in a statement published Wednesd...
Steve Shpock, formerly a vice president of Stellant Systems, has been elevated to the chief operating officer role at the defense electronics company. He has more than 35 years of radio frequency and microwave business experience and will be responsible for driving operational performance across Stellant-run manufacturing and engineering facili...
L3Harris Technologies (NYSE: LHX) has secured a pair of orders worth $235 million combined to manufacture two-channel tactical radio systems for the U.S. Army. Both awards mark the second full-rate production orders for the Falcon IV AN/PRC-163 Leader and AN/PRC-158 Manpack radios under the potential 10-year, $16 billion Handheld, Manpack and Small ...
