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-...
The U.S. Navy has awarded approximately $385.3 million in two indefinite-delivery/indefinite-quantity contracts for engineering and logistics services in support of KC-130J aerial refueling aircraft systems. Rolls-Royce will sustain and support the tanker’s propulsion system under a $228.1 million firm-fixed-price contract while General Electr...
Matt Veldhuis, a 22-year veteran of Lockheed Martin (NYSE: LMT), has joined Raytheon Technologies (NYSE: RTX) as director of business development within the intelligence and space unit. He will oversee requirements and capabilities related to space intelligence, surveillance and reconnaissance in his new position, according to a LinkedIn post publis...
Chris Montferret, a more than two-decade veteran at General Dynamics‘ (NYSE: GD) mission systems business, was elevated to the role of vice president of strategy and business development for the maritime and strategic systems unit. In a LinkedIn post, he announced his executive move within General Dynamics Mission Systems and welcomed the oppo...
Jon Rucker, formerly a senior vice president at Science Applications International Corp. (NYSE: SAIC), has been appointed president and CEO of Ultra‘s intelligence and communications business unit. He will take over from Dan Verwiel, who has served as acting CEO of Ultra Intelligence & Communications since September and will return t...
The Missile Defense Agency has awarded Raytheon Technologies (NYSE: RTX) and Northrop Grumman (NYSE: NOC) other transaction prototype agreement modifications to continue the development and refinement of the companies’ respective concepts of the Glide Phase Interceptor. Both contractors will work to polish their prototypes for the â€...
The State Department has cleared a potential $700 million sale of up to 72 modernized Patriot missile systems and associated equipment to the Swiss government. Lockheed Martin (NYSE: LMT) will serve as the principal contractor on the proposed foreign military sales agreement that will include trainers, skid kits, canister consumables, launcher stati...
AE Industrial Partners, a private equity firm focused on the aerospace and government markets, has wrapped up its acquisition of a majority stake in small satellite builder York Space Systems. Financial terms of the transaction were not disclosed and AEI said Monday that York founder Dick Wallinger will stay as CEO while Chairman Charles Beames...
Kevin Sullivan, former corporate comptroller of Valiant Integrated Services, has been promoted to senior vice president and chief financial officer at the Herndon, Virginia-based government contractor. He replaces Mike Devoto, who has served as Valiant’s CFO on an acting basis and will transition to the position of executive VP for strategic p...
