Rapid Fire Oct. 17, 2012: Russia Aims for Higher Budgets

Oct 17, 2012 11:00 UTC by Defense Industry Daily staff
  • Russia plans to significantly increase its defense budget, says Duma’s Defense Committee chairman Vladimir Komoedov. They are aiming for $97B or 3.7% of GDP by 2015. Possibly, if oil prices then are still high enough to support it.
  • The US House Armed Services Committee (HASC) may see significant changes in its composition with the coming election.
  • Booz Allen Hamilton to acquire ARINC’s Defense Systems Engineering & Support (DSES) division for about $154M in cash. Around 1,000 employees are involved in the acquisition. Meanwhile Safran is buying Goodrich Electric Power Systems (GEPS) for about $400M.

  • Textron announced [PDF] Q3 revenue up 3.3% to $3B. Bell’s military deliveries included 11 V-22s and 5 H-1s compared to 9 V-22s and 7 H-1s in the same period last year, with a backlog down $434M from Q2 2012 to 6.3B.

  • Thailand recently activated its TPS-77 3-D solid-state radar, joining several countries in the region using this long range radar from Lockheed Martin.

  • Singapore’s Minister for Defence Ng Eng Hen in response to a parliamentary question: “The US-China relationship is the most important relationship that will affect the peace and stability in the Asia-Pacific region. [...] Ultimately, Singapore is friends with both, and hopes that the US-China relations flourish.”

  • Following legislation passed in August, Australia has ratified the Convention on Cluster Munitions.

  • The Indian Navy lost a Chetak helicopter and its crew of 3 as it crashed during its landing.

    • Categories: Asia - Other, Australia & S. Pacific, China, Corporate Financials, Daily Rapid Fire, India, Issues - Political, Legal, Lockheed Martin, Mergers & Acquisitions, Radars, Russia, T&C - Booz Allen, Textron, United Technologies, USA

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