Archive: Business/Financial

Pilatus PC-9 aircraft leased by E.I.S. Aircraft Operations for aerial training. Photo: QinetiQ

QinetiQ Completes Acquisition Of German Airborne Training Services Company

Britain’s QinetiQ last Thursday said it has completed its $90.8 million acquisition of Germany’s E.I.S. Aircraft Operations, a provider of airborne training services. QinetiQ, which first announced the deal in April, said the acquisition strengthens “our capability integration, threat representation and operational readiness offering to customers, while accelerating our international growth.” QinetiQ also said that […]

Aerial view of the Pentagon, Arlington, VA

Lawmakers Signalling DoD Should Prepare for Smaller FY ’20 Budget

The president and lawmakers are sending signals to the Defense Department not to expect any major increase in next year’s budget, and that some form of cut could even be in the cards. On Oct. 17, President Trump said he is demanding his cabinet members cut 5 percent from their future federal budget plans, and […]

Military Helicopters Significant Part of Projected Helo Sales Rebound, Forecast Says

After five years of stagnation and program delays in key regions of the world, the global military and civil helicopter market is poised for a rebound, according to a recent analysis by consulting firm Frost & Sullivan. Utility helicopters will account for $50 billion in sales through 2026, attack helicopters–$48 billion, maritime helicopters–$40 billion, and […]

CyPhy’s Tethered Drones Provide Limitless Uptime to Army, Navy

Drones can be used for covert surveillance, attacks, refueling, patrolling, inspection, and any number of other tasks that benefit from a portable aircraft with an operator kept out of harm’s way. The U.S. Army and Navy Special Operations Forces use drones from CyPhy Works to get around one of the big hindrances with most unmanned […]

The two versions of 3M's new F70 ballistic helmet. Photo: Matthew Beinart.

3M Launches New Ballistic Helmet Aimed At International Market

3M [MMM] officially launched the F70 new ballistic helmet last week aimed at the international market and featuring improved durability capabilities the company developed while building the Army’s helmet of the future. Terry Griffith, defense business manager for 3M, told Defense Daily several foreign customers have already purchased the new helmet and the company is […]

Greg Hyslop, Boeing's chief technology officer and senior vice president of Boeing Engineering, Test & Technology. Photo: Boeing

Boeing Establishes New Organization Focusing On Advanced Computing

Boeing [BA] on Wednesday said it has launched a new organization that is focusing on researching and developing capabilities and solutions for secure communications, advanced artificial intelligence, and optimizing complex systems for commercial and government aerospace applications. The Disruptive Computing and Networks (DC&N) will also partner with Boeing’s HorizonX, which is the company’s venture arm […]

Sen. Jack Reed (D-R.I.) at a 2015 Senate Armed Services Committee hearing. Photo: Sen. Jack Reed

Bipartisan Calls Increase in Senate to End U.S. Aid to Saudi Forces

Senators on both sides of the aisle are increasingly calling for an end to U.S. military aid to Saudi forces in Yemen and a hold on weapons sales to the Middle Eastern country, and demanding independent investigations into the disappearance of a Saudi writer living in the United States and two recent airstrikes on civilians […]

Christopher Kubasik, L3 Technologies Chairman, President and CEO. Photo: L3 Technologies

Harris, L3 Chiefs Don’t See Roadblocks To Closing Deal

With just a “fraction” of their respective businesses overlapping, the corporate chiefs behind the largest defense merger ever don’t expect any major regulatory hurdles in combining Harris Corp. [HRS] and L3 Technologies [LLL] into a $16 billion-plus sixth prime contractor on schedule in mid-2019. “We do believe our businesses are complementary and we’ll go through […]

Harris Corp.  Chairman, President and CEO William Brown. Photo: Harris

Harris, L3 Technologies In Deal Billed As Merger Of Equals

Harris Corp. [HRS] and L3 Technologies [LLL] on Sunday morning announced a blockbuster deal that would create the sixth largest U.S. defense contractor with about $16 billion in sales and a market capitalization of $33.5 billion, with Harris shareholders owning 54 percent of the business and L3’s the rest. The company’s said that the merger […]