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Hungary will procure air defense systems from the U.S. under an estimated $1B deal that involves foreign military and direct commercial sales as the European country aims to modernize its Soviet-era arsenal. The FMS portion of the agreement is for 60 Raytheon Technologies-built (NYSE: RTX) Advanced Medium-Range Air-to-Air Missile-Extended Range...

BAE Systems plans to develop a $139M classified facility in Cedar Rapids, Iowa, and create 650 jobs in the city, The Gazette reported Friday. Construction work on the proposed 200K-square-foot defense aerospace facility is expected to kick off by October and conclude by September 2022. Ryan Companies US will serve as the project’s developer....

The CEOs of eight defense contractors wrote separate letters to the White House and the Department of Defense saying that the money sourced from DoD’s budget to help companies retain highly skilled employees during the COVID-19 pandemic should be replaced with new funds to prevent military modernization programs from being jeopardized, Reuters rep...