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Defense Defense Contractors

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  • HARTFORD, Conn.— The Justice Department has launched a criminal probe into allegations that subsidiary helicopter maker Sikorsky and two subsidiaries overbilled the Navy, United Technologies Corp. said Friday. The government filed a complaint last October in federal court that Sikorsky and subsidiaries, Derco Aerospace and Sikorsky Support Services...

  • July 24- The U.S. Department of Justice has informed Sikorsky Aircraft that it has started a criminal investigation into allegations the helicopter maker overbilled the U.S. Navy for a contract, Sikorsky's parent company, United Technologies Corp, said on Friday. The Justice Department told Sikorsky of the probe on July 13, and requested that Sikorsky and two...

  • July 24- The U.S. Department of Justice told Sikorsky Aircraft that it had started a criminal investigation, alleging that the helicopter maker had overbilled the U.S. Navy for a contract. The DOJ informed Sikorsky of the probe on July 13 and said it is seeking about $148 million in claims, Sikorsky's parent United Technologies Corp said in a filing on Friday.

  • July 22- Boeing Co reported a better-than-expected quarterly profit, helped by booming demand for commercial aircraft. The results include a $536 million charge to account for problems with the fuel system on the KC-46A aerial refueling tanker it is developing for the U.S. Air Force. Boeing has said the program remains on track for delivering the initial 18...

  • NEW YORK— Aerospace giant Boeing Co. saw its earnings plunge by a third in the second quarter because of repeated delays with a military fuel tanker. The Chicago- based company on Wednesday posted a $1.11 billion net profit, down from $1.65 billion during the same period last year. The bulk of that drop is attributed to a $536 million after-tax charge Boeing took on...

  • Second half playbook: Defense Thursday, 2 Jul 2015 | 3:46 PM ET
    Second half playbook: Defense

    What to expect out of the defense sector in the second half of the year, with CNBC's Jane Wells.

  • SCHROBENHAUSEN, Germany, June 25- The German armed forces want to order between 8 and 10 units of the MEADS air and missile defence system for the time being, the managing director of manufacturer MBDA Deutschland GmbH said on Thursday. Germany said this month it would buy the MEADS system from Europe's MBDA and Lockheed Martin Corp instead of an updated Patriot...

  • PARIS, June 16- Lockheed Martin Corp announced on Tuesday that it will team with Raytheon Co and Canadian planemaker Bombardier to develop a new surveillance and command and control aircraft for a future U.S. Air Force competition. Northrop and Boeing Co have also said they plan to compete for the contract when the Air Force launches a competition in the coming...

  • WASHINGTON, June 5- Huntington Ingalls Industries Inc on Friday won two contracts worth a combined $4.3 billion to complete design work and construction of the USS John F. Kennedy aircraft carrier, the Pentagon said in its daily digest of major contracts. The first contract, a fixed-price deal with an incentive fee, was worth $3.4 billion for design and...

  • WASHINGTON, June 5- Huntington Ingalls Industries Inc on Friday won two contracts worth a combined $4.3 billion to complete design work and construction of the USS John F. Kennedy aircraft carrier, the Pentagon said in its daily digest of major weapons contracts. The first contract, a fixed-price deal with an incentive fee, was worth $3.4 billion for design and...

  • Robots rise to the next level—with $2M on the line Friday, 5 Jun 2015 | 12:41 PM ET
    A robot competes during the DARPA Robot Challenge.

    A robotics contest on Friday will pit robots against each other to carry out complicated, disaster-related tasks.

  • WASHINGTON, May 27- The U.S. Navy on Wednesday said it had signed a deal with Japan to buy components from two decommissioned, U.S.-built MH-53E heavy-lift helicopters operated by the Asian country, and other spare parts to help service its own aging fleet of H-53 aircraft. The deal is small, valued at just over $67,000, but marks the first time that Naval Air Systems...

  • Poland says Airbus utility helicopter passed army tests Wednesday, 27 May 2015 | 5:08 AM ET

    POWIDZ Air Base, Poland, May 27- The Airbus utility helicopter, preliminarily selected by Poland in a $3 billion tender, has passed army tests, a prerequisite for opening formal negotiations for the purchase, the Polish army said on Wednesday. "The presented helicopter has met the requirements set by the armed forces as well as those described by the producer,"...

  • *Turkey believes robust military vital for regional role- analyst. *China weapons deal has raised concern among NATO members. ANKARA, May 27- For years Turkey has boasted NATO's largest army, bar only the United States, and now President Tayyip Erdogan wants a defence industry to match.

  • The new arms race in the South China Sea Thursday, 21 May 2015 | 1:19 PM ET
    An Indonesian naval vessel.

    Defense spending among nations in the South China Sea region is rising, but most of it isn't going to the United States.

  • WASHINGTON, May 15- The U.S. Air Force's acquisition chief said on Friday he expects the Air Force to announce the winner of a hard-fought competition to build a new long-range strike bomber in one to two months. Northrop Grumman Corp, maker of the B-2 bomber, is competing against a team of Boeing Co and Lockheed Martin Corp to build 80 to 100 new LRS-B aircraft for the...

  • BERLIN, May 15- Germany's defense ministry has decided to buy MEADS, a successor to the Patriot missile defense system developed by European defense group MBDA and U.S. weapons maker Lockheed Martin Corp, German newspaper Sueddeutsche Zeitung reported on Friday. The newspaper, which did not identify its sources, said the Lockheed-lead MEADS consortium had...

  • BERLIN, May 15- Germany's defense ministry has decided to buy MEADS, the successor to the Patriot missile defense system from the firm MBDA, German newspaper Sueddeutsche Zeitung reported on Friday. The newspaper, which did not identify its sources, said MBDA, along with U.S. firm Lockheed Martin, would make the MEADS system ready for series production.

  • May 13- Smiths Group Plc. *Smiths Detection Inc. announces $23 mln chemical detector order from the U.S. army. *U.S. Army contracting command- Aberdeen proving ground, in support of joint chemical agent detector program, exercised an option for a $23 million production order on an existing contract.

  • Does Elon Musk have one more trick up his sleeve? Tuesday, 12 May 2015 | 7:00 AM ET
    The unmanned Falcon 9 rocket launched by SpaceX lifts off from the Cape Canaveral Air Force Station in Cape Canaveral, Florida January 10, 2015.

    Elon Musk's venture is taking off as it snares major space contracts. Now rivals like UAL and Blue Origin are vying for the niche market.