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Ten-Year, $460 Billion Saudi Arms Deal Spells Windfall For U.S. Defense Primes

Friday, May 26th, 2017

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The historic sale of arms to Saudi Arabia announced on President Donald Trump’s first overseas trip is expected to bestow hundreds of billions of dollars on the U.S. defense industry, which will create thousands of jobs to fill the demand for tanks, helicopters, missiles and other weapons.Most of the windfall is destined for prime contractors Lockheed Martin [LMT], Boeing [BA] and Raytheon [RTN], according to accounts of the deal worth a total of $460 billion over the next decade. Just shy of $110 billion in foreign…

Congress

Baldwin Concerned With Army’s JLTV ‘Mismanagement,’ Seeks Support For Marines’ Procurement Plans

Sen. Tammy Baldwin (D-Wis.) has raised concerns with the “Army’s mismanagement” of the Joint Light Tactical Vehicle (JLTV) program, and is seeking assurance that the Marine Corps can be supported […]

Congress

SASC Cites Concern With Army’s sUAS Approach, Seeks Info On Plans To Scale Fielding

Senate defense authorizers are seeking more info from the Army on its plans for scaling and deploying small drone capabilities citing concern with the service’s current “fragmented and insufficient” approach. […]

SASC Bill Would Raise Amphib Requirement To 33 Ships

The Senate Armed Services Committee’s (SASC) fiscal year 2027 defense policy bill adds new provisions that would raise the Navy and Marine Corps’ minimum requirement for amphibious warships and extend […]

Army

Army Plans To Initiate ISV-Heavy Competition Later This Year, Official Says

The Army is planning to initiate its competition to build the Infantry Squad Vehicle (ISV)-Heavy in the fourth quarter of this year, a senior acquisition official has said. Jesse Tolleson, […]