MoD awards Lockheed Martin with £129m 10-year drone contract December 16, 2022 The Ministry of Defence has awarded aerospace giant Lockheed Martin with a £129m contract to provide drones to the UK’s army. As part of the ten-year deal, the group will provide more than 250 drones with high-resolution imaging that can identify targets far from the operator. Lockheed Martin’s technology is already being used by the [...]
BAE Systems post revenue over £10bn with Saudi deals a tenth of this as new chair brought in July 28, 2022 BAE Systems reported higher sales and revenue for the first half of 2021 helped by work with Saudi Arabia as it met market expectations and announced a new Chair from next year. The defence company’s sales were up 2.8 per cent from the previous year’s first half to £10.6bn as its revenue climbed 4.3 per cent [...]
Defence giant Lockheed Martin strikes deal with north east firm to help companies get manufacturing contracts June 21, 2022 Lockheed Martin has teamed up with a northern firm in a partnership to help companies get lucrative manufacturing contracts. The US defence giant, which works in aerospace and security, announced the deal with RTC North following the UK Space Sector Skills and Supplier Summit it hosted in Newcastle. It is considering basing its UK operations [...]
Lady Cobham: UK mustn’t sell off defence crown jewels June 19, 2022 LADY Cobham, the daughter-in-law of the founder of the defence giant Cobham, has warned the UK government it cannot afford to allow British defence firms to fall into foreign hands. Cobham was bought by a US private equity firm in 2020, with Lady Cobham at the time warning the government it should have stepped in [...]
Australia reaches settlement with French firm to ease ‘Aukus’ tensions June 12, 2022 Australia has reached a settlement with France's Naval Group, as compensation for scuppering a submarine contract with the country.
British defence firm Meggitt posts humble growth as it gears up for £6.3bn US takeover April 21, 2022 Revenue for the British defence firm Meggitt was up a humble five per cent this morning as the company gears up for a US takeover. Whilst this was a slight boost from the previous year, revenue was still down 23 per cent compared to pre-pandemic levels. Meggitt stated that though it was pleased with the [...]
Spring budget: Defence and foreign aid set to miss out on rise as war rages in Ukraine March 21, 2022 Britain’s defence and foreign aid budgets are set to miss out on an increase in the Spring budget, despite Russia’s war in Ukraine putting pressure on the UK’s responsibilities abroad. Chancellor Rishi Sunak sidestepped suggestions the conflict could lead to a rise in cash for defence, pointing to £24bn spent last year. This comes after [...]
Babcock gains new Five Eyes partner with Australian communications deal December 6, 2021 Babcock International (Babcock) has been chosen by the Australian Government to upgrade its defence capabilities.
BAE Systems maintains 2021 guidance for positive earnings growth November 8, 2021 BAE Systems has stuck to its guidance for earning per share to grow by 3-5 per cent this year compared to 2020. The multinational arms and aerospace company has kept its improved underlying position unchanged from the outlook it outlined at its interim results. It says demand for its products and services remains high. Demand [...]
Government boosts Highlands and opens Europe’s biggest IT centres October 22, 2021 The UK Government has opened two new IT service centres in the Scottish Highlands, creating 250 jobs and boosting the area’s local economy. Situated in Nairn and Inverness, the two sites will look after all of the Ministry of Defence’s 200,000 IT customers, providing 24/7 assistance throughout the whole year. Part of a five-year contract [...]