In testimony to parliament on the F-35, for which Australia is one of the largest international buyers with plans for up to 100, Australia's air force chief Air Marshal Geoff Brown said rivals were years behind the Lightning II's development.» Read More
Cai Von Rumohr, Cowen and Company analyst, talks about what investors should consider before buying stock in the defense sector.
WASHINGTON, Feb 20- Lockheed Martin Aeronautics has been awarded a 10- year contract worth up to $6.9 billion to modernize the Air Force's fleet of radar-evading F-22 Raptor jet fighters, the Pentagon said on Wednesday.
ABU DHABI, Feb 18- The United Arab Emirates has signed defence contracts worth 5.2 billion dirhams, including one for unmanned aerial drones, a spokesman for the country's military said on Monday. The UAE awarded the contract to purchase the drones to a local company, International Golden Group, which will buy them from the U.S. firm.
WASHINGTON, Feb 13- The Pentagon and the U.S. Navy have lifted flight restrictions on the Marine Corps version of the F-35 fighter jet, clearing the way for testing and training flights to resume after a nearly month-long grounding, according to Colonel Kevin Killea, who oversees aviation requirements for the Marine Corps.
*Air Force may have to renegotiate $52 bln Boeing tanker deal.
WASHINGTON, Feb 6- The U.S. Air Force will have to curtail its orders for Lockheed Martin Corp's F-35 fighter jet, restructure a $52 billion tanker contract with Boeing Co and reduce its flying hours by 18 percent if lawmakers do not avert impending across-the-board spending cuts, the service told Congress on Wednesday.
CNBC's Rick Santelli talks with Bill Frezza, Huffington Post columnist, about why Republicans should back a plan to cut defense spending.
Defense shares have continued to be positive going into earnings season (Boeing aside due to 787 problems), even though most analysts believe earnings will be lower than a year ago.
*Army project to lay groundwork for bigger Pentagon program. WASHINGTON, Jan 18- Boeing Co and Sikorsky Aircraft, a unit of United Technologies Corp, said they were teaming up to develop a next-generation multi-role helicopter for the U.S. military.
WASHINGTON, Jan 18- Boeing Co and Sikorsky Aircraft, a unit of United Technologies Corp, have reached a strategic teaming agreement to develop a next-generation multi-role helicopter for the U.S. military, according to sources briefed on the matter.
WASHINGTON, Jan 17- The U.S. Air Force is moving ahead with plans to change its approach to national security satellites, including greater use of government sensors on commercial satellites and possible launches of cheaper, less-complex satellites for other missions, a top Air Force general said on Thursday.
The FAA has grounded all Boeing 787 Dreamliners, but the stock is making a comeback today after yesterday's drop, reports CNBC's Phil LeBeau.
Boeing is not planning to change its 787 production schedule despite recent problems, reports CNBC's Phil LeBeau. Ken Herbert, aerospace analyst at Imperial Capital, weighs in.
Boeing defends use of lithium ion batteries on Dreamliner jets, with CNBC's Phil LeBeau. Mary Schiavo, aviation attorney, weighs in.
CNBC's Jane Wells explains what areas of defense remain vulnerable.
U.S. sales of warplanes, anti-missile systems and other costly weapons to China's and North Korea's neighbors appear set for significant growth amid regional security jitters.
The Pentagon is getting ready to lay off hundreds of thousands of employees, with CNBC's Hampton Pearson.
CNBC's Hampton Pearson reports Defense cutbacks loom as the Pentagon plans to notify 800 thousand employees of potential furloughs if no deal is reached in a debt deal.
Defense companies are sure to be affected if we go over the "fiscal cliff" because of automatic spending cuts to the industry, reports CNBC's Jane Wells.
Howard Rubel, Jefferies analyst, provides insight on how to play the defense sector.