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
WASHINGTON, Dec 27- The U.S. Navy last week awarded submarine contracts worth up to $4.5 billion to General Dynamics Corp and Huntington Ingalls Industries Inc., securing the funds from automatic budget cuts if Congress cannot reach agreement on other ways to reduce U.S. deficits.
*Air Force to protect most critical programs. WASHINGTON, Dec 20- Further cuts in U.S. military spending are certain, even if Congress and the White House find a way to avert damaging automatic reductions, a top U.S. Air Force general told Reuters as prospects for such a deal appeared to dim.
*White House warned measure could harm ties with allies. WASHINGTON, Dec 18- House of Representatives and Senate negotiators on Tuesday defied the White House and passed a defense budget bill that bans funding for the final year of a joint ground-based missile defense program with Italy and Germany.
With so much government money going to defense companies like Lockheed Martin, it is difficult to imagine a "fiscal cliff" deal that does not cut at least some of the Pentagon's defense budget.
WASHINGTON, Dec 14- The U.S. Defense Department said on Friday it has finalized a contract for the purchase of a fifth batch of radar-evading F-35 fighter aircraft from Lockheed Martin Corp., a deal worth $3.8 billion for 32 of the advanced planes. It paid $111.6 million for the Air Force version of the plane in the previous contract.
Northrop Grumman Corp, which was teamed with Italy's Finmeccanica SpA; Boeing Co; Textron's Bell Helicopter unit; and the U.S. unit of Europe's EADS all said they would not compete to build 112 new helicopters for the Air Force, raising questions about whether the contest can proceed as planned.
Northrop Grumman Corp, which was teamed with Italy's Finmeccanica SpA; Boeing Co; Textron's Bell Helicopter unit; and the U.S. unit of Europe's EADS said they would not compete to build 112 new helicopters for the Air Force, raising questions about whether the contest can proceed as planned.
WASHINGTON, Dec 11- Boeing Co said on Tuesday it would not submit bids based on its H-47 helicopter or the V-22 tiltrotor aircraft built with Textron Inc's Bell Helicopter unit for a U.S. Air Force competition for 112 new combat rescue helicopters.
WASHINGTON, Dec 11- Northrop Grumman Corp and Italy's Finmeccanica SpA have decided not to bid for a $6.84 billion contract to build 112 new combat search and rescue helicopters for the U.S. Air Force, Northrop said on Tuesday.
Dawne Hickton, RTI International Metals, and Howard Dean, former Democratic National Committee chairman, debate the pros and cons of going over the "fiscal cliffs."
WASHINGTON, Nov 30- U.S. Army officials this week backed a plan to buy new armed scout helicopters instead of extending the life of the Army's aging fleet of OH-58 Kiowa Warrior helicopters, sources familiar with the Army's plans told Reuters on Friday.
*Pentagon, Lockheed said nearing deal for more jets. NEW YORK, Nov 29- The U.S. Air Force affirmed on Thursday its plans to buy 1,763 F-35 fighter jets built by Lockheed Martin Corp in coming years, as Lockheed and the government neared agreement on a multi-billion dollar contract for a fifth batch of planes.
Read ahead to see the most expensive U.S. military programs currently under way.
The business world has seen numerous individuals put their marriages, careers and good standing at risk for an extramarital dalliance. CNBC.com presents a list of people who went outside of their marriages for intimate relationships.
A top U.S. general in Afghanistan is now under investigation, with CNBC's Eamon Javers. Jeremy Kroll, K2 Intelligence, and Julian Sanchez, Cato Institute, also discuss cyber security.
Perhaps no industry has been as male dominated as the defense industry. Now, two major contractors, including the largest defense company in the world, will soon be led by women.
As sex-scandals rock the defense world, women are stepping up to lead, reports CNBC's Jane Wells.
CNBC's Jane Wells takes a look at the rise of women in companies that used to be dominated by men.
Jason Trennert, Strategas Research Partners, and Barry Knapp, Barclays, discuss the economic outlook for next year, as the nation faces taxing times in 2013.
Jason Trennert, Strategas Research Partners, and Barry Knapp, Barclays, discuss yesterday's market sell-off and weigh in on the outlook for the remainder of the year.