WASHINGTON, Oct 10 (Reuters) – Deputy Defense Secretary
Ashton Carter, known for his deep knowledge of U.S. defense
spending and the defense industry, said on Thursday he was
stepping down in December after four years in top Pentagon jobs.
Defense Secretary Chuck Hagel said he “reluctantly accepted”
Carter’s decision to leave the post.
WASHINGTON, Oct 10 (Reuters) – The Pentagon said on Thursday
it would halt work on a second pilot helmet being developed for
the F-35 fighter jet by Britain’s BAE Systems Plc, and
focus exclusively on the main helmet built by Rockwell Collins
Inc and Israel’s Elbit Systems Ltd.
The Pentagon’s F-35 program office said the move followed
improvements to the Rockwell-Elbit helmet, including a better
night vision camera, and would save about $45 million in funding
that would have been needed to finish the BAE helmet.
WASHINGTON (Reuters) – The U.S. Air Force expects to finalize a $2.2 billion contract with Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) for two more advanced military communications satellites in coming weeks, a top Air Force general told Reuters on Wednesday.
The Air Force awarded Lockheed a preliminary contract worth $1.9 billion in December for the fifth and sixth Advanced Extremely High Frequency (AEHF) satellites, which allowed the company to begin work on the new spacecraft.
(Reuters) – CACI International (CACI.N: Quote, Profile, Research, Stock Buzz) on Wednesday said it would buy Six3 Systems Inc from private equity firm GTCR for about $820 million to strengthen its intelligence support services to the U.S. government, the company’s largest ever acquisition.
CACI said it has secured a financing commitment for $800 million and expects the deal to add to its adjusted earnings per share by at least 10 percent in 2014, at a time when declining U.S. defense spending is expected to weigh on revenues for many companies in the sector.
WASHINGTON (Reuters) – Shares of Lockheed Martin Corp, the Pentagon’s biggest supplier, and some other defense companies rallied on Monday after Defense Secretary Chuck Hagel recalled most civilian defense employees despite the ongoing shutdown of the U.S. government.
Lockheed shares closed $1.06 higher at $123.56 on the New York Stock Exchange, while shares of Northrop Grumman Corp closed $1.66 or 1.78 percent higher at $94.98. Raytheon Co shares closed 1.3 perent higher at $75.22.
WASHINGTON (Reuters) – Lockheed Martin Corp has resolved many quality problems on the $392 billion F-35 fighter jet program since a troubling audit by the Pentagon inspector general’s office last year, top U.S. government and industry officials said on Monday.
The officials were commenting on a report on the year-long assessment by the inspector general, which was completed in December 2012 but not released until Monday.
WASHINGTON (Reuters) – The Pentagon on Friday said it had finalized two contracts with Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) valued at $7.8 billion for 71 more F-35 fighter jets, citing what it called significant reductions in the cost of the new radar-evading warplane.
The U.S. Defense Department said it signed a $4.4 billion contract for a sixth batch of 36 F-35 aircraft, with the average cost of the planes down 2.5 percent from the previous deal. All but $743 million of that amount had already been awarded to the company under a preliminary contract.
WASHINGTON (Reuters) – The Pentagon is expected to reach decisions in coming months on how to meet its weather forecasting needs after the 2012 termination of a nearly $15 billion program being built by Northrop Grumman Corp, a senior official told Reuters on Thursday.
Douglas Loverro, deputy assistant defense secretary for space policy, said Pentagon officials were weighing the possibility of replacing the large satellite system that Northrop was slated to build with a series of smaller, less expensive satellites in the $200 million to $300 million range.
WASHINGTON (Reuters) – South Korea’s decision to reopen bidding for a fighter-jet contract rather than accept Boeing Co’s (BA.N: Quote, Profile, Research, Stock Buzz) F-15 Silent Eagle signals a wider problem for the aerospace giant: revenue from its most profitable but aging military aircraft is winding down.
At the same time, U.S. government budget cuts have dimmed the prospects of Boeing developing replacements for the higher-margin legacy aircraft, such as the F-15, acquired when it merged with McDonnell Douglas in 1997.
WASHINGTON, Sept 24 (Reuters) – Lockheed Martin Corp
, nearing completion of its 100th F-35 fighter jet,
anticipates dozens of international orders or commitments for
the new radar-evading warplane in coming months, according to
U.S. government officials and industry executives.
The F-35 program got a boost on Tuesday when the South
Korean government rejected a bid by Boeing Co to build 60
F-15 warplanes, saying it needed a more advanced