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☆ Lockheed wins U.S. missile defense contract worth $17 billion, sources tell Reuters
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +3 min

Lockheed Martin has been awarded a $17 billion contract to develop the next generation of interceptors that would guard the United States against an intercontinental ballistic missile attack, two industry sources briefed on the matter told Reuters. Both Lockheed and the Missile Defense Agency declined to comment. The sources did not indicate the length of the contract, but the first interceptor is expected to be operational in 2028. The NGI is currently in its technology development phase and will transition to its product development phase in May, according to written testimony submitted by the head of the Missile Defense Agency, Lieutenant General Heath Collins, last week. The United States then decided to restart the contract process to gather bids on designing the whole interceptor including the "kill vehicle."

Persons: Lockheed Martin, Walter E, General Heath Collins, Collins, Northrop Grumman Organizations: Lockheed, Astronautical, Washington Convention Center, Reuters, Army, Attack Reconnaissance Aircraft, U.S . Missile Defense Agency, Defense, Missile Defense Agency, Pentagon, Boeing Locations: Washington , DC, United States, North Korea, Iran, U.S

☆ SpaceX files to move incorporation site from Delaware to Texas
▼ + stars: | 2024-02-14 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

SpaceX has filed to change its incorporation location to Texas from Delaware, according to public filings with the Texas Secretary of State. Neuralink, another one of Musk's companies, has also begun moving its location of incorporation from Delaware to Nevada. He has also promised that Tesla will hold a shareholder vote to get approval to move the company's site of incorporation to Texas. "SpaceX has moved its state of incorporation from Delaware to Texas!" Musk is expected to file for appeal to the Delaware State Supreme Court regarding his pay package.

Persons: Elon Musk, Tesla, Musk, didn't, Elon Organizations: SpaceX, USSF, U.S . Space Force, Missile Defense Agency, Texas, State, Elon, Delaware, Court, Twitter Locations: Cape Canaveral , Florida, U.S, Texas, Delaware, Nevada

Though aerospace and defense funds understandably haven't done well in this year's faltering market, some individual stocks have posted substantial gains. U.S. support in what's turning out to be a long war in Ukraine will likely push overall contractor spending higher, benefitting aerospace and defense companies. In this era of high-tech warfare, when strategic military engagement is more about digital systems and aerial weapons than boots on the ground, aerospace and defense companies are advantageously positioned. Lucrative products include fighter jets, helicopters, parts for them, avionics products, missile guidance system, drones and anti-drone technology and support services. Curtiss-Wright Corp (CW) Projected five-year annual earnings growth: Data was not available.

Persons: Lockheed Martin, Giuseppe Cacace, Northrup Grumman, Howmet's, Wright, Woodward, Gerald R, Ford Organizations: US Air Force, USAF, Lockheed, Maktoum International Airport, Afp, Getty, U.S, Publicly, General Dynamics, TransDigm, Inc, Parsons Corp, U.S . Department of Defense, Missile Defense Agency, State Department, Department of Homeland Security, Department of Energy, Federal Aviation Administration . Products, Aerospace, Curtiss, Wright Corp, CW, N.C . Products, Woodward Inc, Huntington Ingalls Industries, Coast Guard, Ford, Pentagon Locations: Dubai, Al, Maktoum, Ukraine, Israel, Gaza, what's, Virgina, Washington, Davidson, N.C, Fort Collins , Colorado

Many countries are working on them — and neither China, Russia, Iran, India or Pakistan have signed a U.S.-initiated pledge to use military AI responsibly. Another AI project at Space Force analyzes radar data to detect imminent adversary missile launches, he said. One urgent challenge, says Jane Pinelis, chief AI engineer at Johns Hopkins University’s Applied Physics Lab and former chief of AI assurance in Martell’s office, is recruiting and retaining the talent needed to test AI tech. Testing and evaluation standards are also immature, a recent National Academy of Sciences report on Air Force AI highlighted. Might that mean the U.S. one day fielding under duress autonomous weapons that don’t fully pass muster?

Persons: —, Replicator —, Kathleen Hicks, ”, Gregory Allen, we’ve, Missy Cummings, George Mason, Lisa Costa, Wallace ‘ Rhet ’ Turnbull, Tom Siebel, Matt Visser, Palantir, Jack Shanahan, Maven, Mark Milley, Christian Brose, Paul Scharre, ” Anduril, Nathan Michael, Michael, Shanahan, Craig Martell, Martell, Jane Pinelis, “ Organizations: U.S ., Russia, Air Force, China, Pentagon, Department of Defense, Center for Strategic, International Studies, Navy, ” U.S . Space Force, Space Force, Space Systems Command, Blackhawk, ., U.S . Missile Defense Agency, Defense Counterintelligence, Security Agency, Third Infantry Division, NATO, Maven, National Geospatial - Intelligence Agency, U.S . Special Operations, ISIS, Command, Control, Chiefs, Armed Services Committee, U.S, Marines, Special Forces, Industry, BAT, Marine Expeditionary, Pentagon AI, LinkedIn, Johns Hopkins, Lab, National Academy of Sciences Locations: Md, Ukraine, U.S, China, Russia, Iran, India, Pakistan, ” U.S, Silicon Valley

☆ The manager of the top-performing small-cap fund this year outlined his 4 criteria for finding strong investments — and revealed his 3 favorite hidden gem stock picks right now
▼ + stars: | 2023-11-21 | by ( Mark Reeth | ) www.businessinsider.com time to read: +8 min

With a name like the Needham Aggressive Growth Fund, you'd be forgiven for assuming portfolio manager John Barr hunts for growth at any cost. So yes, it's growth investing informed by value investing." The Needham Aggressive Growth Fund has returned over 25% year-to-date according to Morningstar, making it the best-performing small-cap fund on the market. Barr, a one-time software salesman turned investing pro, told Business Insider what he looks for in his investments, the market themes he's watching, and his favorite stock picks right now. But it's Barr's primary investment criteria that sets him apart from other growth-focused fund managers: finding "hidden-to-quality compounders."

Persons: you'd, John Barr, Barr, that's, Charlie Munger, Warren Buffett, Morningstar, I've, there's, —, they've Organizations: Berkshire Hathaway, Business, Fund, Micro, Google, Vishay, Vishay Group, Parsons Corporation, Missile Defense Agency, Department of Defense

☆ Israel's missile ships are joining US combat power in the Red Sea as more Iran-backed militants fire weapons its way
▼ + stars: | 2023-11-01 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Israel said it deployed missile ships to the Red Sea, where they'll join US Navy vessels in the area. AdvertisementAdvertisementAfter a series of attacks from Iran-backed militants, Israel has deployed several ships capable of launching missiles to the Red Sea, where they will join US Navy vessels already there. The IDF said "all aerial threats were intercepted outside of Israeli territory," with some of them downed by Israeli fighter jets around the Red Sea to the south. Israel Defense ForcesIsraeli Navy ship in the Red Sea. US Missile Defense AgencyThe Arleigh Burke-class guided-missile destroyer USS Carney (DDG 64) transits the Suez Canal, Oct. 18.

Persons: Israel, they'll, —, Yemen's, Carney, Arleigh Burke, we've, Pat Ryder, Aaron Lau, Hezbollah —, Lloyd Austin Organizations: US Navy, Service, Navy, Israel Defense Forces, US, IDF, Hamas, Israel Defense Forces Israeli Navy, IAF, Aerial Defense, Pentagon, Air Force, Interceptor, US Missile Defense Agency, Hezbollah, Islamic Revolutionary Guard Corps, U.S Locations: Yemen, Israel, Iran, Israeli, Israel's, Eilat, Red Sea, Red, Suez, Saudi, Tehran, Iraq, Syria

☆ Hamas is testing the layers of Israel's sophisticated air-defense network. Here's how it fends off threats.
▼ + stars: | 2023-10-13 | by ( Jake Epstein | ) www.businessinsider.com time to read: +8 min

Israel confirmed using its David's Sling air-defense system to intercept a Hamas rocket on Friday. Iron DomeIsrael's Iron Dome defense missile system is on alert, stationed close to the southern Israeli town of Sderot on October 12, 2023. Iron Dome has a reported intercept success rate of around 90%, but some inbound threats do manage to break through. US Missile Defense AgencyThe upper layer of Israel's air-defense network consists of Arrow systems. The Patriot is a top US air and missile defense system and is capable of engaging ballistic missiles, cruise missiles, aircraft, drones, and loitering munitions.

Persons: Israel, —, Daniel Hagari, Jack Guez, Tamir, Sebastian Scheiner, Brian Kimball Organizations: Service, Hamas, Israel Defense Forces, country's Missile Defense Organization, Getty, IDF, Iron, Pentagon, Sling Air Defense, Hatzor, Base, Sunday, David's, AP, Interceptor, US Missile Defense Agency, Center for Strategic, International Studies, Arrow, Patriot US Army Patriot, US Defense Department, Tech, Patriot Locations: Israel, Gaza, Sderot, AFP, U.S, Iranian, Lebanon, Finland, Washington, Midia, Romania, US, Ukrainian

Washington CNN —The three US military service secretaries went on the offensive against Republican Sen. Tommy Tuberville over his ongoing hold on senior military nominations in an interview with CNN on Tuesday, saying he is aiding communist and autocratic regimes, and being used by adversaries like China against the US. “That is what the American people truly need to understand.”“It is just unprecedented to be attacking apolitical general officers and flag officers in this way. But placing a blanket hold on all general and flag officer nominees, who as apolitical officials have traditionally been exempt from the hold process, is unfair to these military leaders and their families. It is time to lift this dangerous hold and confirm our senior military leaders.”“Chuck Schumer could confirm all of the service chiefs in one day—but he refuses. Wormuth said Tuesday that she’s worried the hold will impact morale among lower-ranking officers.

Persons: Republican Sen, Tommy Tuberville, Frank Kendall, CNN’s Jake Tapper, Carlos Del Toro, Christine Wormuth, ” Kendall, “, ”, ” Del Toro, Del Toro, Wormuth, ” Wormuth, Chuck Schumer, ” Steven Stafford, Tuberville, ” Tuberville, Mitch McConnell, C.Q . Brown, Joe Biden, Mark Milley, she’s Organizations: Washington CNN, Republican, CNN, ” Air Force, an Air Force, “ Senators, Biden, Pentagon, Department, Joint Chiefs of Staff, Air Force, Army, Marine Corps, Missile Defense Agency Locations: China, United States, Washington ,, Cuba, Washington, Alabama

☆ Israel says Arrow-3 missile-killer sale to Germany approved by U.S.
▼ + stars: | 2023-08-17 | by ( Dan Williams | ) www.reuters.com time to read: +2 min

REUTERS/Amir Cohen/FILE PHOTO Acquire Licensing RightsJERUSALEM, Aug 17 (Reuters) - The United States approved a $3.5 billion sale of Israel's Arrow-3 missile defence system to Germany on Thursday, clearing the way for delivery in 2025 and full operational deployment by 2030, Israeli officials said. The U.S. is a partner in the Arrow project, which was developed jointly by the Israel Missile Defence Organisation and the United States Missile Defense Agency. The Germany deal, which would be Israel's biggest ever defence sale, follows a European arms build-up in response to Russia's war in Ukraine. While Patriot and IRIS-T cover the medium layer of air defence, Arrow-3 - in whose production Boeing Co (BA.N) is also involved - offers protection for the higher layer. Israel's Army Radio said the signing ceremony with Germany on the Arrow-3 sale was expected to take place in November.

Persons: Amir Cohen, Moshe Patel, Patel, Boaz Levy, Dan Williams, Tom Hogue, Raju Gopalakrishnan Organizations: REUTERS, Rights, United, Israel Missile Defence Organisation, United States Missile Defense Agency, Israel's Defence Ministry, Israeli Missile Defence Organisation, Israel Aerospace Industries, IRIS, Boeing Co, Israel's Army Radio, Thomson Locations: Ashdod, United States, Germany, U.S, Ukraine, Israel, Russia

☆ Japan may build 2 huge warships to counter the growing missile threat from North Korea
▼ + stars: | 2022-12-15 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

That has led Japan to examine its missile defense, which relies on specially designed warships. The launches have forced Japan to examine its unique ballistic-missile defense system, which relies heavily on specially equipped warships to intercept incoming missiles. US Missile Defense Agency/Heather CavaliereJapan began developing its current BMD system in 2004. US Navy/MCS3 Quinton A. LeeThe Aegis-equipped BMD ships are the most important part of Japan's BMD system. US Navy/MCS Seaman Aleksandr FreutelThere are advantages to relying on maritime-based platforms for missile defense.

Over recent years, NATO allies and Russia have scaled up military exercises in the region; Chinese and Russian warships conducted a joint exercise in the Bering Sea in September. Four Arctic experts say it would take the West at least 10 years to catch up with Russia's military in the region, if it chose to do so. "NATO is increasing its presence in the Arctic with more modern capabilities," NATO chief Jens Stoltenberg told Reuters. Now NATO and Arctic allies are changing their stance. Sweden and Finland have begun investing in surveillance and deterrence capabilities and military hardware including jets so their air forces can fight alongside Arctic NATO allies.

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