A Department of Defense report has found that defense spending in fiscal year 2023 in all 50 states and Washington, D.C., including DOD contract obligations, payroll spending and grant awards, totaled $609.2 billion, reflecting a $50.5 billion increase from the previous fiscal year and accounting for 2.2 percent of the U.S. gross domestic product. D...
Interos will bring together the brightest minds in supply chain risk management for a one-day event this October to discuss pressing issues across artificial intelligence, cyber, geopolitical risks, ESG and more. One of the sessions at Interos’ 2024 Risk Intelligence Summit will be featuring Paul Nakasone, a retired U.S. Army general who serve...
X-Bow Systems has appointed Mike Bender, a senior aerospace and defense executive, as chief operating officer. The company said Tuesday Bender will work with X-Bow CEO Jason Hundley and the executive team to drive growth and implement strategic initiatives and will oversee the company’s factories and related facilities, quality assurance, supply c...
The U.S. Navy has awarded indefinite-delivery/indefinite-quantity contracts with a combined ceiling of $1.21 billion to AAR Government Services (NYSE: AIR) and StandardAero for the maintenance and repair of the P-8A Poseidon aircraft. Under each firm-fixed-price, time-and-materials IDIQ, the contractors will perform depot-level engine maintenance, r...
A report by financial services company Raymond James (NYSE: RJF) shows that 122 mergers and acquisitions occurred in the defense and government market during the second quarter of 2024, a 63 percent increase from the prior-year period and an 11 percent rise from the previous quarter. The August report was issued by Raymond James’ defense ...
Ultra Intelligence & Communications has appointed Jeff Wrobel, a 20-year business executive, as vice president of business development. The former U.S. Marine Corps officer announced his move to Ultra I&C in a LinkedIn post published Sunday. Wrobel came to Ultra I&C after spending five years at L3Harris Technologies (NYSE: LHX), where he...
Shane Sims, an experienced defense and aerospace acquisition professional, was appointed vice president of business development for national operations at Parsons (NYSE: PSN), according to his LinkedIn post. He previously served as Army account executive on the defense and intelligence team at the Chantilly, Virginia-based information technology pro...
GovCon industry veterans Ron Fehlen and Jeff Schrader announced in separate LinkedIn posts that they have assumed new vice president roles within Lockheed Martin’s (NYSE: LMT) space business. Fehlen will serve as VP of mission architect for national security space at Lockheed Martin Space and Schrader will take on the role of VP of strategy...
A report by financial services company Raymond James (NYSE: RJF) shows that there were 76 mergers and acquisitions in the defense and space industry during the first quarter of 2024, a 55 percent increase from the same period the previous year and a 31 percent rise from the previous quarter. Defense and Space M&A Activity...
Executive Mosaic’s GovCon Index and Wall Street ended the week strong due to a broad market rally. The index, which tracks the stock performances of 30 major government contractors, edged 0.21% higher Friday to $4,871.91, suitable for a 1.94% week-on-week gain. The Nasdaq Composite advanced 2.02% for a weekly gain of 4.2%. Alphabet (Nasdaq: G...
