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☆ AUKUS nuclear submarine cost includes 50% fund for unexpected overruns
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, April 28 (Reuters) - Australia's defence minister said on Friday the government was being "upfront and transparent" about the cost of its AUKUS nuclear submarine programme, after an analysis showed the forecast A$368 billion cost included a 50% contingency fund. The Greens party, which commissioned the analysis by the Parliamentary Budget Office, said it showed the "huge" uncertainty over the project. In a second phase, Australia and Britain will build an AUKUS class submarine, with Australia receiving its first submarine in the early 2040s. read moreAustralia's Parliamentary Budget Office has reported the cost estimate over three decades includes a contingency of A$123 billion. The report showed most of the cost of the submarine programme will be incurred in the two decades from 2033.

Order intake at the company that makes a range of military and civilian hardware doubled to 17.02 billion crowns ($1.66 billion) from 8.1 billion, while its order backlog increased to 132.66 billion crowns from 128 billion crowns. Chief executive Micael Johansson said countries are increasing stocks to improve their own resilience, as well as to support Ukraine, which had translated into a strong order intake. Demand has been particularly strong in the surveillance and dynamics businesses, which include sensors, deterrents, support weapons and missiles, he said. Analysts at Citi said it was a strong start to the year for Saab, with sales, operating profit and orders beating consensus. Shares in Saab were up around 4.5% as the market opened, but reversed course later and at 0806 GMT were down 1.5%Operating profit for the maker of the Gripen fighter jet was 928 million Swedish crowns ($90.16 million) in the quarter, compared with 654 million crowns a year earlier.

☆ Why Porsche, Mercedes and GM are betting on silicon-anode batteries
▼ + stars: | 2023-04-22 | by ( Andrew Evers | ) www.cnbc.com time to read: +2 min

Batteries made with silicon instead of graphite — the commonly used material in battery anodes today — have been shown to enable significantly higher energy density and faster charging. Amprius is already working with Airbus , the U.S. Army, AeroVironment and BAE Systems on early iterations of its silicon-anode batteries. Sila Nanotechnologies, which was started by a group of ex-Tesla battery engineers, is also working on silicon-anode technology. Porsche also plans to use silicon-anode technology in its vehicles, and has invested in Washington state-based Group14 Technologies. Watch the video to learn more about silicon-anode batteries and why the auto industry is betting on them.

☆ Ukraine hails GPS-guided Excalibur artillery shells that can hit a target 25 miles away with pinpoint accuracy
▼ + stars: | 2023-04-15 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

The US has supplied Ukraine with more than 3,000 of the advanced shells, according to a report. In the video, which was posted to Zaluzhny's Facebook page, a Ukrainian soldier praised the high-precision Excalibur shells, saying they were extremely important for accurately striking Russian forces' equipment. The GPS-guided 155 mm shells offer an accurate, longer-range alternative to conventional artillery shell, capable of hitting within seven feet of their target. The Excalibur has a range of 25 miles, according to Pentagon budget documents from last year that first confirmed the shells had been sent to Ukraine. It is thought that the US has sent around 3,000 Excalibur rounds to Ukraine since Russia invaded last year, Forces.net reported in January.

☆ UK says Lockheed Martin, BAE Systems win nearly $200 mln contract, to create 140 jobs
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

April 4 (Reuters) - Lockheed Martin Corp (LMT.N) and BAE Systems Plc (BAES.L) won a F-35 jet maintenance support contract worth 161 million pounds ($200 million), creating 140 jobs in Britain, the country's Ministry of Defence said on Tuesday. The contract was signed by the U.S. Joint Program Office and Lockheed Martin as F-35 prime contractor, with BAE Systems to carry out the work as a sub-contractor, the government said in a statement. Of the 140 jobs, 130 jobs will be based at the Norfolk base and around 10 jobs more would be created through the supply chain, the statement added. ($1 = 0.8053 pounds)Reporting by Anirudh Saligrama in Bengaluru; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ BAE Systems to work with Heart Aerospace on electric airplane battery
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: 1 min

LONDON, March 30 (Reuters) - Britain's BAE Systems (BAES.L) said on Thursday it would collaborate with Sweden's Heart Aerospace in developing a battery system for Heart's ES-30 regional electric airplane. The ES-30 will be powered by four electric motors, with an all-electric range of 200 kilometers, an extended reserve hybrid range of 400 kilometers with 30 passengers and an ability to fly up to 800 kilometers with 25 passengers, BAE Systems said. Heart Aerospace has a total of 230 orders and 100 options for the ES-30, along with letter of intent for an additional 108 airplanes. Reporting by Paul Sandle Editing by William Schomberg and Sarah YoungOur Standards: The Thomson Reuters Trust Principles.

☆ Kazakh airline says business is booming as Russia loses traffic
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

ALMATY, March 29 (Reuters) - Kazakhstan's flagship airline, Air Astana, is speeding up its expansion plans to take advantage of a drop in air traffic via Russia and the reopening of China, chief executive Peter Foster told Reuters. Many global airlines stopped flights to Russia after it invaded Ukraine last year. The company plans to grow its fleet to 50 aircraft by the end of this year from the current 44 aircraft, Foster said, and is accelerating expansion plans for the coming years. "We see very big opportunities in China, as China has opened again, following COVID, India is doing well.., Pakistan is a growth market." "And that's been resolved, we have no problem with accessing spare parts,"Kazakhstan's sovereign wealth fund, which owns a 51% stake in Air Astana, plans to list the company publicly next year.

☆ The US Army is getting a new vehicle to replace the armored personnel carrier it has used since before the Vietnam War
▼ + stars: | 2023-03-20 | by ( Drew F. Lawrence | ) www.businessinsider.com time to read: +4 min

The AMPV is a tracked armored vehicle with gearing and suspension similar to the M2 Bradley. The Armored Multi-Purpose Vehicle, or AMPV, is a tracked armored vehicle with similar gearing and suspension as the M2 Bradley Fighting Vehicle, 60 of which are on their way to Ukraine amid Russia's renewed invasion. The US Army's Armored Multi-Purpose Vehicle compared to the M113 armored personnel carrier. The M113 has been a staple in the Armored Brigade Combat Team, the Army's premier armored formation, for decades. Related: Army Set to Receive First Armored Vehicles to Replace Vietnam-Era M113

[1/5] A concept model of the Global Combat Air Programme (GCAP)'s fighter jet is displayed at the DSEI Japan defense show at Makuhari Messe in Chiba, east of Tokyo, Japan March 15, 2023. REUTERS/Kim Kyung-HoonTOKYO, March 15 (Reuters) - Britain and Japan are set to dominate a three-nation project with Italy to build an advanced jet fighter, with Rome set to pay around only a fifth of the overall development cost, two sources said. "The cost of the project will likely be around 40% each for Japan and Britain," one of the people with knowledge of discussions told Reuters. Japan's defence ministry said that discussions were ongoing and declined to comment on the cost sharing ratios. Details of which companies will build what components are being hammered out in regular talks between more junior government officials and contractors in Britain, Japan and Italy, the sources said.

LONDON, March 15 (Reuters) - Finance minister Jeremy Hunt presented less gloomy forecasts for Britain's economy at his Spring Budget on Wednesday. Reuters Graphics Reuters GraphicsROSIER OUTLOOKA rout in global banking stocks on Wednesday overshadowed many UK-specific moves. Investments announced by Hunt such as a corporate spending tax break, a boost for defence and extra childcare support were not viewed as particularly inflationary. Unlike in the last budget, noise around windfall taxes on oil and gas companies was muted in the run-up to the budget since energy prices have fallen dramatically since then. "In general, the budget is not the big story for gilts right now, global drivers are in the driving seat," said James Smith, economist at ING.

"Until now, the ministry has taken the defence companies for granted," said Masahisa Sato, an influential ruling party lawmaker and former deputy defence minister. Three of them, Mitsubishi Heavy, Mitsubishi Electric and IHI Corp (7013.T), which makes jet engines, bridges and heavy machinery, confirmed they had also taken part in other lower-level discussions. Reuters asked 10 of Japan's military suppliers, including Toshiba, Mitsubishi Electric, Daikin and Subaru, for interviews with their defence unit managers. Despite diplomatic tensions, China is Japan's top trade partner and a major manufacturing base for many Japanese companies. Even so, Japanese companies often refer to their military products as "special equipment," the government official said.

The agreement will also see U.S. and British submarines deployed in Western Australia to help train Australian crews and bolster deterrence. This first phase of the plan is already underway with the U.S. Virginia-class nuclear-powered attack submarine Asheville visiting Perth in Western Australia, officials said. Briefing a small group of reporters on Friday, Sullivan dismissed China's concerns and pointed to Beijing's own military buildup, including nuclear-powered submarines. 'DOUBLE DIGIT BILLION' INVESTMENTAustralia had agreed to contribute funds to boost U.S. and British submarine production and maintenance capacity, the official said. Australia's nuclear-powered submarine program with the United States and Britain will cost Australia up to A$368 billion ($245 billion) by 2055, a defense official said.

☆ Europe's arms spending on Ukraine boosts defense companies
▼ + stars: | 2023-03-09 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —After months of soaring stock prices, Europe’s defense companies hardly needed another boost. But a tentative €2 billion ($2.1 billion) European Union plan to procure ammunition for war-torn Ukraine may provide just that. Speaking in Stockholm Wednesday, Ukraine’s Defense Minister Oleksii Reznikov said his country needed one million rounds of ammunition “as soon as possible” to deter Russian forces. A final decision is expected on March 20 when EU foreign and defense ministers meet in Brussels. In early February, the bloc announced that it would inject another €545 million ($575 million) into its €3.6 billion ($3.8 billion) military assistance fund for Ukraine.

SEOUL, March 8 (Reuters) - South Korea's government approved export licenses for Poland last year to provide Ukraine with Krab howitzers, which are built with South Korean components, a defence acquisition official in Seoul told Reuters on Wednesday. The comments are the first confirmation that South Korea officially acquiesced to at least indirectly providing weapons components to Ukraine for its war against Russia. Seoul officials have previously declined to comment on the Krabs, fuelling speculation over whether South Korea had formally agreed or was simply looking the other way. South Korean President Yoon Suk Yeol said at the time that South Korea, a U.S. ally, had not provided any weapons. Kim said Poland would need further South Korean permission to provide any of those new weapons to Ukraine.

☆ Defence contractors target Australia as it gears up to counter China
▼ + stars: | 2023-03-02 | by ( Jamie Freed | ) www.reuters.com time to read: +4 min

The firms are pushing for billions of dollars' worth of purchases expected after Australia's long-awaited defence strategic review (DSR) is made public next month, setting out the force structure and equipment required over the next decade. The government's aim is to "speed up the acquisition cycle" and move as quickly as possible once the review is public, Defence Industry Minister Pat Conroy told reporters on Wednesday. Australia ranked 12th globally in military spending in 2021 at $31.8 billion, according to the Stockholm International Peace Research Institute. Lockheed was selected last year alongside Raytheon Technologies Corp (RTX.N) to accelerate the manufacture and delivery of guided weapons to Australia. In-country assembly, and eventually manufacturing, are a focus of the project that aims to build local stockpiles, said Ken Kota, vice president of Lockheed's Australian defence strategic capabilities office.

☆ BAE Systems Designs Fighter Drone That Can Take Off Vertically
▼ + stars: | 2023-02-28 | by ( Mike Cherney | ) www.wsj.com time to read: 1 min

A BAE Systems Strix drone on display at the Avalon airshow in Australia. AVALON, Australia— BAE Systems PLC unveiled a design for a large drone that can take off vertically and fly alongside manned helicopters, the latest bet on autonomous warfare as countries seek to upgrade their militaries. The new system, called Strix, aims to be affordable and easy to deploy, while still offering substantial range and firepower. A video animation played by BAE at the Avalon Airshow in Australia, where it announced the new aircraft and displayed a model, showed Strix taking off from the back of boats. Another video showed the drone, with wings folded, being stored in a shipping container and then driven away on a truck.

☆ BAE Systems Australia unveils homegrown military drone
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] People take a look at a model of STRIX drone by BAE Systems Australia, at the Australian International Airshow, in Avalon, Australia February 28, 2023. REUTERS/Jamie FreedAVALON, Australia Feb 28 (Reuters) - BAE Systems Australia and another local manufacturer on Tuesday unveiled a new uncrewed military aircraft that will be designed, manufactured and armed in Australia. Work on a prototype is under way, with operational service possible by 2026, said Ben Hudson, chief executive of BAE Systems Australia, a wholly owned subsidiary of BAE Systems (BAES.L), Britain's biggest defence company. Boeing is designing the MQ-28 Ghost Bat, a fighter-like drone, alongside the Royal Australian Air Force. BAE Systems Australia will also deliver a new low-cost precision-guided munition, known as RAZER, usable with STRIX.

☆ BAE Systems Australia unveils first homegrown military drone
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] People take a look at a model of STRIX drone by BAE Systems Australia, at the Australian International Airshow, in Avalon, Australia February 28, 2023. REUTERS/Jamie FreedGEELONG, Australia Feb 28 (Reuters) - BAE Systems Australia and another local manufacturer on Tuesday unveiled a new uncrewed military aircraft capable of vertical takeoff and landing, the first to be designed, manufactured and armed in Australia. Work on a prototype is under way, with operational service possible by 2026, said Ben Hudson, chief executive of BAE Systems Australia, a wholly owned subsidiary of BAE Systems (BAES.L), Britain's biggest defence company. BAE Systems programme manager Natalie Waldie said that STRIX could be exported to allied nations and that there had been strong interest from two unnamed international customers. BAE Systems Australia will also deliver a new low-cost precision-guided munition, known as RAZER, usable with STRIX.

☆ Ukraine War, Global Tensions Lift European Arms Makers’ Orders, Share Prices
▼ + stars: | 2023-02-23 | by ( Alistair Macdonald | ) www.wsj.com time to read: 1 min

LONDON—Europe’s defense contractors are boosting orders and enjoying surging stock market valuations, lifted by higher government spending and the expectation of more sales to come as the Ukraine war grinds on. BAE Systems PLC, Europe’s largest defense contractor, was the latest in a parade of big arms makers to post a large jump in annual orders for 2022. It joined peers such as Sweden’s Saab AB and Norway’s Kongsberg Gruppen ASA in benefiting from generally higher military spending around the world—particularly from some European countries—amid the Ukraine war.

☆ BAE Systems earnings rise, sees higher military spend boosting 2023
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 23 (Reuters) - BAE Systems (BAES.L), Britain's biggest defence company, posted a 9.5% rise in annual earnings and forecast more growth this year as military spend continues to rise on the eve of the first anniversary of Russia's invasion of Ukraine. Underlying earnings per share on a constant currency basis came in at 55.5 pence for 2022, BAE said on Thursday, beating a consensus forecast of 53.9 pence. BAE had in November upgraded its guidance citing very strong orders. For 2023, BAE, which makes submarines, fighter jets, military ships and combat vehicles, said earnings per share would rise by 5% to 7%. The Ukraine war has boosted defence spending globally, and BAE is benefiting from higher demand from its major customers, the United States, Britain, Saudi Arabia and Australia.

☆ Embraer's electric aircraft maker Eve 'on track' to start service in 2026
▼ + stars: | 2023-02-17 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

SAO PAULO, Feb 17 (Reuters) - Electric aircraft maker Eve Holding Inc (EVEX.N) is "on track" to meet its goal of starting commercial operations in 2026, an executive said on Friday, and getting its aircraft certificated is the most immediate target. Eve is confident about the "robust project," which is backed by Embraer's expertise, said Mauad, reiterating the goal of starting operations in 2026. BNDES later announced it would grant Eve an additional 490 million reais ($94.47 million). Mauad acknowledged a consolidation process could happen in the sector, but noted Eve was still particularly focused on working through its partnerships. ($1 = 5.1871 reais)Reporting by Gabriel Araujo; Editing by Anthony Esposito and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: What is the Bradley Fighting Vehicle?
▼ + stars: | 2023-01-06 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 6 (Reuters) - The United States said on Thursday that it will send Bradley Infantry Fighting Vehicles to Ukraine to bolster Kiev's fight against Russia's invasion. What is a Bradley Fighting Vehicle? The Bradley is a tracked, medium-armored vehicle armed with a 25-mm gun. France has pledged a similar armored vehicle called the AMX-10 RC. Germany will send about 40 Marder infantry fighting vehicles to Ukraine before the end of March.

☆ U.S. announces $3.8 billion security assistance package for Ukraine, European allies
▼ + stars: | 2023-01-06 | by ( Amanda Macias | ) www.cnbc.com time to read: +3 min

WASHINGTON – The Biden administration announced nearly $3.8 billion in security assistance for Ukraine and European allies on Friday, Washington's largest package since Russia's full-scale invasion began nearly a year ago. The $2.85 billion weapons package includes Bradley infantry fighting vehicles, artillery systems, armored personnel carriers, surface-to-air missiles and ammunition. New to this aid package are 50 Bradley infantry fighting vehicles, armored tracked vehicles manufactured by U.S. defense firm BAE Systems . Ukrainian President Volodymyr Zelenskyy thanked President Joe Biden for the "very powerful" security package during a video message on his official Telegram channel. For the first time, we will receive armored vehicles Bradleys, this is exactly what is needed," Zelenskyy said.

WASHINGTON, Jan 5 (Reuters) - A new U.S. weapons package for Ukraine will include about 50 Bradley Fighting Vehicles, two U.S. officials said on Thursday, with one of the officials saying the package will be worth roughly $2.8 billion. On Wednesday President Joe Biden said that sending Bradley Fighting Vehicles, a U.S. Army staple, to Ukraine was being considered to help fight Russia's invasion. The latest security package for Ukraine is expected to be unveiled on Friday, the officials said. As the war progressed and Ukraine's needs changed, more complex weapons systems, including High Mobility Artillery Rocket Systems (HIMARS) and National Advanced Surface-to-Air Missile Systems (NASAMS), were shipped to Kiyv. Most recently, the United States pledged to send a Patriot missile system to repel Russian missile and drone attacks.

[1/4] Italy's Defence Minister Guido Crosetto poses for a picture during an interview with Reuters, in Rome, Italy, December 16, 2022. Defence Minister Guido Crosetto, a co-founder of Prime Minister Giorgia Meloni's Brothers of Italy party, said Rome would make a final decision on how much to invest in the multi-billion-dollar project after more details had been defined. Crosetto said there should be no bar on joining forces with the rival European programme, adding that the GCAP should also aim to find new partners, especially within Europe. Italy has never disclosed details of its shipments, but Crosetto confirmed that Kyiv had requested air-defence systems, including the Franco-Italian SAMP/T. He added that Italy was also open to suggestions for joint procurement by the EU Defence Agency.

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