Rapid Fire 2011-05-20: Sizing the Global Defense Market

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* Global defense budget is expected to reach $1.1 trillion in 2012, according to ASDReports.com * Lockheed Martin gets $45.3 million order to upgrade 22 Finnish Army M270 multiple launch rocket systems, enabling them to fire GPS-guided munitions. * BAE Systems gets GBP 39 million in MOD contracts to improve the intelligence processing capability of the RAF’s Typhoon fighter. * General Dynamics Electric Boat receives a $33.5 million contract modification to develop advanced submarine technologies for US Navy undersea platforms. * Northrop Grumman and Georgia Institute of Technology to develop MEMS gyroscope technology for DARPA’s Microscale Rate Integrating Gyroscope program. * UK uses Roll Over Drills Egress Trainers (RODETs) – armored hulls outfitted like a real vehicle that can be completely rotated – to teach troops at Camp Bastion in Afghanistan how to survive if their vehicle hits an IED.

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