Lockheed Martin takes financial hit amid ongoing F35 troubles
The company remains in negotiations with the US Government over the Lot 18 and 19 F-35 production contract, following the fourth quarter 2023 US$7.8 billion contract modification.
The $3.5 billion deal needed the green light from Washington as the system includes substantial US technology and DoD and commercial involvement as well as dollars. Details on the approval were provided by head of the Israeli Missile Defence Organisation Moshe Patel.
In a statement, Israel’s MoD said the project will start with the signing of a Letter of Commitment (LoC) between the two countries and will release an initial $600 million. This will be followed by the two countries and industrial lead Israel Aerospace Industries signing the full contract by the end of 2023.
The system will use the latest Arrow-3
Already have an account? Log in
Get access to this article with a Free Basic Account
Access to all our premium news as a Premium News 365 Member. Corporate subscriptions available.
The company remains in negotiations with the US Government over the Lot 18 and 19 F-35 production contract, following the fourth quarter 2023 US$7.8 billion contract modification.
Poland’s Foreign Military Sales (FMS) request is for a range of radar, electronic warfare (EW) and missile and bomb test systems to upgrade its fleet of 48 F-16s.
Recent contracts and requests to purchase this capability have been reaching multi-billion levels.
After lengthy negotiations, the Indian Ministry of Defence has now signed a US$4 billion contract with the US Government to procure 31 MQ-9B drones from General Atomics, marking India as the largest customer of this UAV model.
WaveAerospace has been showcasing its MULE heavy-lift VTOL UAS, designed for contested logistics missions with a payload capacity of more than 40kg and up to four hours of endurance, while also introducing Huntress, a fast multirotor UAS. Both will be expected to enter production by 2025.
The Black Hornet 4 was unveiled 12 months ago and has an improved thermal sensor and an EO camera over the previous platform, and a forward-facing ultrasound sensor and navigation cameras on the top and sides.