Saab Inc., the U.S. business arm of the Swedish aerospace and defense company, has booked a $494.4 million contract from the U.S. Army for the production of XM919 Individual Assault Munition, or IAM. The Department of Defense said Tuesday the firm-fixed-price contract, which covers an unspecified amount of XM919 IAM, was awarded to Saab by the...
Cognizant (Nasdaq: CTSH) has completed its purchase of Belcan in a cash-and-stock deal worth approximately $1.3 billion as part of a push to broaden its engineering research and development capabilities and expand its aerospace and defense market footprint. Cognizant said the transaction, which was first announced in June, also builds on its presenc...
V2X (NYSE: VVX) has secured a contract to ensure the operational readiness of F-5 Adversary aircraft of the U.S. Navy. The company said Wednesday the indefinite-delivery/indefinite-quantity contract for F-5 maintenance is valued at $747 million and has a potential seven-year period of performance, including three 12-month options. Work will be perfo...
The State Department has approved Australia’s request for AH-64E Apache sustainment support services and related equipment under a potential $300 million foreign military sale transaction. The Defense Security Cooperation Agency said Friday Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) will be the principal contractors for the pr...
Just before the September 11, 2001 attacks, Bradford Powell joined U.S. Air Force ROTC at the University of Iowa because he wanted to actively serve the country after graduation, rather than sit idly behind a desk. As fate would have it though, post-9/11, he became an acquisition officer and ended up doing a fair amount...
In early August, the National Counterintelligence and Security Center within the Office of the Director of National Intelligence published a new edition of the National Counterintelligence Strategy. The refreshed version includes nine goals split across three pillars, which focus on addressing threats posed by foreign intelligence entities...
The U.S. Navy is working to accelerate modernization and instill efficient manufacturing habits as the service branch continues to produce mission systems for the future. During a panel discussion at the Potomac Officers Club’s 2024 Navy Summit, naval officers shared insight into recent technological developments and how technologies like arti...
Artificial intelligence has piqued the interest of the U.S. military services, and the Department of the Navy has sharpened its focus on AI technologies in recent years. These tools offer the department increased efficiency and elevated decision making capabilities, but disconnected, dated systems have presented a number of challenges. One of these ...
Mobix Labs (Nasdaq: MOBX) intends to acquire electromagnetic interference technology provider J-Mark Connectors in an effort to boost revenue and grow its military aerospace footprint. The Irvine, California-based semiconductor company said it expects the acquisition to close in August and to enhance sales strategy and boost gross margins for Mobix ...
The sprawling Department of Defense relies on extensive funding to support the military services and other defense agencies. The Pentagon’s fiscal year 2024 budget reached approximately $841.4 billion in fiscal year 2024, and it has requested $849.8 billion for FY 2025. Though processes for handling such large amounts of money are ...
