US defence companies report declining sales
US prime defence contractors have reported declining sales for the third quarter of 2013 as some of their businesses are affected by the current budget situation.
It has mainly been short-cycle businesses that have been impacted with the larger backlogs of longer-cycle businesses securing steady revenue.
Marilyn Hewson, CEO and president of Lockheed Martin, told reporters in a conference call: ‘With the closure of government’s FY2013 we can now determine that budget reduction actions implemented under sequestration will result in limited impact to our portfolio programmes in 2013, with impacts seen primarily on our short-cycle business.’
Further, Northrop Grumman
Already have an account? Log in
Want to keep reading this article?
You may also like
More from Defence Notes
-
![How might European countries look to tackle drone incursions?]()
How might European countries look to tackle drone incursions?
Disruption of infrastructure in Europe, whether by cyberattack, physical damage to pipelines or uncrewed aerial vehicles flying over major airports, as has happened more recently, is on the rise. What is the most effective way of countering the aerial aspect of this not-so-open warfare?
-
![Taiwan approved for $11 billion weapon purchase from US]()
Taiwan approved for $11 billion weapon purchase from US
The US State Department’s approval of a multi-billion-dollar sale of weapons to Taiwan includes tactical mission networks equipment, uncrewed aerial systems, artillery rocket systems and self-propelled howitzers as well as anti-tank guided missiles.
-
![Ireland spells out $2.3 billion shopping list in five-year defence spending plan]()
Ireland spells out $2.3 billion shopping list in five-year defence spending plan
Ireland’s multi-annual investment in capital defence spending is set to rise from €300m in 2026 to €360m in 2029–2030 with major upgrades across land, air, maritime and cyber domains.
-
![Canada to deepen integration of multi-domain capabilities to strengthen its defences]()
Canada to deepen integration of multi-domain capabilities to strengthen its defences
The Canadian Department of National Defence has created new organisations to manage the procurement and integration of all-domain solutions and allocated US$258.33 million to strengthen production capacities.
-
![US National Security Strategy prioritises advanced military capabilities and national industry]()
US National Security Strategy prioritises advanced military capabilities and national industry
The 2025 NSS has emphasised investment in the US nuclear and air defence inventory and national industry, but it leaves multiple unanswered questions on how the White House will implement this approach.
-
![Canada set to look away from its neighbour and across the Atlantic for partners]()
Canada set to look away from its neighbour and across the Atlantic for partners
While non-EU UK struggles to join the Security Action for Europe initiative, which provides loans for defence programmes, Canada has become the first country outside Europe to get access – and did so for a nominal fee.
