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McAleese & Associates: GovCon Execs Talk AI, Hypersonics at Reagan Forum

Consulting firm McAleese & Associates has released a report on key takeaways from the two-day Reagan National Defense Forum that kicked off Friday in California. Lockheed Martin (NYSE: LMT) CEO Marillyn Hewson; Raytheon (NYSE: RTN) CEO Thomas Kennedy; Leanne Caret, CEO of Boeing’s (NYSE: BA) defense, space and security business; and Harris (NYSE: …

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MDA Unveils Eight Participants in Hypersonic Weapon Concept Development Program

The Missile Defense Agency has awarded contracts to seven companies and a nonprofit organization to further develop their respective hypersonic weapon concepts. MDA said in a FedBizOpps notice posted Thursday contractors will work on their proposed kinetic and non-kinetic hypersonic glide and terminal defense weapon systems through the contracts worth …

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Roy Azevedo Named Raytheon Space & Airborne Systems President; Thomas Kennedy Quoted

Roy Azevedo, a nearly three-decade Raytheon (NYSE: RTN) veteran, has been appointed president of the company’s space and airborne systems business in a move that will take effect on Sept. 1. He will join the corporate leadership team and succeed Richard Yuse, who is due to retire on Dec. 31 …

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Sally Sullivan, Ed Fortunato Named to VP Roles at Raytheon

Sally Sullivan, a former CSRA executive, has joined Raytheon (NYSE: RTN) as vice president of U.S. business development. Sullivan previously served as executive VP for the homeland security group at CSRA, which is now part of General Dynamics’ (NYSE: GD) information technology business after the latter completed its purchase in April, …

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23 Firms Win Spots on $794M Navy Unmanned Undersea Vehicle R&D Support IDIQ

The U.S. Navy has awarded 23 companies positions on a potential five-year, $794.5 million contract to support the development and fabrication of unmanned undersea vehicles. The Defense Department said Monday the Naval Undersea Warfare Center Division received 28 offers for the indefinite-delivery/indefinite-quantity contract that will run through July 2023. Contractors …

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Raytheon Records 5.5% Increase in Net Sales, $8.7B in Bookings for Q2 2018

Raytheon (NYSE: RTN) recorded $6.6 billion in net sales for the second quarter of fiscal 2018, reflecting a 5.5 percent increase from the same period last year. The company said Thursday it logged $8.7 billion in Q2 bookings and $1.2 billion in operating cash flow related to second-quarter continuing operations. The …

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PwC: Aerospace & Defense Industry Reported $728B in 2017 Revenue

A new PwC report says the aerospace and defense sector recorded $728 billion in 2017 revenue, reflecting a 4 percent increase from the previous year. PwC reported that A&D companies posted a combined operating profit of $77 billion in 2017 with an on operating margin of 10.6 percent, up from 9.3 percent in …

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LMI Names Sanjay Parthasarathy SVP, CTO in Reorganization

Sanjay Parthasarathy, a defense contracting industry veteran, has joined LMI as a senior vice president and chief technology officer. Parthasarathy will oversee the Tysons, Va.-based nonprofit government consulting services contractor’s strategic investments and innovation efforts and help revitalize the LMI Research Institute as part of his appointment to the newly created role, LMI …

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Raytheon Gets $415M MDA Contract Modification for SM-3 Block IIA Materials

Raytheon (NYSE: RTN) has secured a $415.4 million contract modification from the Missile Defense Agency to obtain a limited subset of items needed to produce, test and deliver a total of 24 Standard Missile-3 Block IIA systems. The award raises the contract’s potential value from $694.3 million to $1.10 billion and also funds the procurement …

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Govini Report: Federal Investment in Space, Hypersonic Tech Hit $83B in FY 2011-2017

A Govini report says U.S. government investments in space and hypersonic technologies from fiscal years 2011 through 2017 reached approximately $83 billion and annual government spending on such platforms rose by 6 percent over the period, SpaceNews reported Sunday. United Launch Alliance ranked first in the top 15 vendors list …

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