Leonardo DRS and Israel-based RADA Electronic Industries (Nasdaq: RADA) have agreed to merge in an all-stock transaction to form a public company focused on providing advanced sensing and force protection systems in the defense market. The boards of directors of both companies approved the deal and both parties expect to close the transaction in the...
A new McAleese & Associates report indicates that defense stock prices have spiked 18 percent to 20 percent year-to-date and outperformed the S&P 500 as sector investors react to the Russian invasion of Ukraine. Jim McAleese, founder of McAleese & Associates and a three-time Wash100 winner, noted investors see a 10 percent spike in Depar...
Lockheed Martin (NYSE: LMT) has received a $578.2 million contract modification from the U.S. Navy to provide program management, non-recurring work and training services needed to integrate F-35 aircraft systems for an unnamed international customer. The Department of Defense said Friday the full obligated amount at the time of award will come from...
Craig Faller, a retired U.S. Navy admiral, has joined the board of advisers of Sigma Defense Systems. Sigma Defense CEO Matt Jones said in a statement published Thursday that Faller brings to the advisory board his vision for integrating capabilities, operational concepts and technology and provide strategic guidance on the company’s platforms and...
Spectral Energies has won an eight-year, $184.3 million contract to conduct studies for the turbine engine division under the Air Force Research Laboratory’s aerospace systems directorate. The Department of Defense said Wednesday the company will aim to advance propulsion technology for DOD platforms through the Innovative Combustion and Propu...
Operationalizing data and achieving AI/ML readiness are two of the Department of the Air Force’s most urgent “must-pay bills,” according to Brig. Gen. John Olson, DAF’s chief data and artificial intelligence officer. Within DAF and across the entire Department of Defense enterprise, data centricity is the new “North Star.” Data — ...
As the use of artificial intelligence and machine learning continues to grow exponentially in the public sector, the intelligence community is on the cusp of big changes in the way it operates. Because AI/ML is increasingly critical to U.S. intelligence capabilities, the IC is now updating and adapting its tradecraft to include these advanced techno...
The Naval Air Systems Command has awarded Pratt and Whitney a $4.38 billion contract modification to manufacture engines for the U.S. military’s 15th and 16th F-35 production lots. The Raytheon Technologies-owned (NYSE: RTX) engine builder will provide a total of 152 F135-PW-100 turbofans to the U.S. Air Force, Navy and Marine Corps, the Depar...
Alan Chvotkin, a partner at government contracts law firm Nichols Liu, published his latest article as a part of Executive Mosaic’s GovCon Expert program on Thursday. In his latest featured article, GovCon Expert Alan Chvotkin explores the conflicts of interest that continue to be involved in the federal acquisition regulation process as well as...
Rick Lober, vice president and general manager of defense and intelligence systems division at Hughes Network Systems, was featured in a recent Executive Spotlight interview published Tuesday. He shared how the company has been able to drive digital transformation efforts to stay ahead of innovation in the federal landscape. Lober also discussed the...
