Raytheon & NG Report Nice Increases in Qtrly Rev | Airbus Posts Lower than Expected Q3 Profits | Indian Gov Issues RFI for Self-Protection for Mi-17V-5 Helo FleetOct 28, 2016 00:58 UTC
- As with last quarter, higher than expected sales of Paveway laser- and GPS-guided smart bombs and air-to-air missiles have contributed to Raytheon reporting a 4.3 percent rise in quarterly revenue. Raytheon’s missile systems unit increased 9.4 percent to $1.80 billion in the third quarter while their airborne systems business also jumped 10 percent to $1.59 billion. The announcement, however, didn’t save the company from taking a greater than 3 percent drop in shares in early trading on Thursday as a broad sell-off in defense stocks was caused by some companies in the sector missing revenue targets.
- Northrop Grumman recorded a rise in quarterly profits, announcing a 16.7 percent rise with shares hitting an all-time high of $229.45 and were still up 3.9 percent at $228.10 in afternoon trading on Thursday. The company now expects full-year sales of $23.9 billion to $24.1 billion, up from $23.5 billion to $24.0 billion. Increased business from their participation in the F-35 program, autonomous systems and increased buying in top-secret programs all contributed to the rise. Both Northrop and Raytheon’s better than expected accounts follow that of Lockheed Martin earlier in the week.
- Negotiations over low-rate initial production (LRIP) lots 9 and 10 of the F-35 Joint Strike Fighter look close to conclusion following the completion of supplier discussions between Northrop Grumman and lead contractor Lockheed Martin. The talks indicate that Lockheed may soon wrap-up its 15-month talks with the Joint Program Office (JPO). But both the JPO and Lockheed have said that negotiations were still ongoing and gave no comment as to when they would come to an end.
Middle East & North Africa
- It’s been reported that the US military is using bases in Tunisia to conduct surveillance drone operations against Islamic State militants in Libya with unarmed MQ-9 Reaper UAVs. However Tunisian sources have denied that the drones have been in Libyan airspace and instead are being used for training Tunisian forces and protecting the country’s borders. Following attacks by jihadists in a popular vacation destination in 2015, Washington has given more than $250 million in security assistance to Tunisia while the UK has provided personnel to train Tunisian forces.
- Engineers from Russia’s Elektropribor design bureau, specialists in aviation technology, are developing a new carrier-killing torpedo to replace the high-speed Shkval. As with its predecessor, little information is known about the new weapon dubbed Khishchnik, or Predator, however those working on the project are looking to improve on the capabilities found in Shkval by utilizing the similarities in torpedo engines and their airborne equivalents. With Shkval nearly three times the speed of a standard torpedo, an improved Khishchnik could potentially leave enemy vessels defenseless from being hit.
- Unlike some of their American counterparts, Airbus posted lower than expected third-quarter profits, attributed to drops in their commercial jet liner and helicopter business. Quarterly operating profit before one-off items fell 21 percent to $796 million while revenue fell 1 percent to 13.95 billion euros. Additional headaches for the defense group followed when the UK government continued their ban on Super Puma oil industry flights just weeks after European safety regulators cleared the helicopter to fly again.
- The A-100LL flying laboratory has made its maiden flight. Based on the A-50, the aircraft will form the basis for the the A-100 AEW&C platform and when introduced into service will replace the A-50 and A-50U. The test-bed will be used for ground and flight tests of various system elements, including electromagnetic compatibility and information exchange protocols.
- A Request for Information (RFI) has been issued by the Indian government for the provision of 200 sets of self-protection systems for their fleet of Mi-17V-5 helicopters. The self-protection suites will protect Indian helicopters against radar controlled weapons and IR seeking missiles while fighting against militants in the dense forest terrain found in areas such as Kashmir. Each system contains a Radar Warning Receiver (RWR), Missile Approach Warning System (MAWS) and Counter Measure Dispensing System (CMDS); while fifteen helicopters will receive an additional Laser Warning Receiver (LWR) and Directed Infrared Counter Measure system.
Russian warships passing the English Channel (while watched by the Royal Navy):