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June 26, 2020

Raytheon Technologies successfully completed the separation of Otis and Carrier and the merger with Raytheon Company. Following these transactions,Raytheon Technologies had a cash balance of ~$8.5bn and a net debt position of ~$25bn. Executive Summary Financial Statements – Income Statement and Forecast – Balance Sheet – Cash Flow – Results Overview – Segment Performance. – […]

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June 22, 2020

HEICO Corporation announced that its Buc, France-based 3D PLUS subsidiary supplied numerous missioncritical and high-reliability components on the Solar Orbiter space mission, which successfully launched from Cape Canaveral, FL overnight. 3D PLUS is part of HEICO’s Electronic Technologies Group. Executive Summary Financial Statements – Income Statement and Forecast – Balance Sheet – Cash Flow – […]

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June 17, 2020

Axon, announced the industry’s first real-time mobile application that allows law enforcement to use a mobile device to remotely view live streamed Axon Body 3 camera or Axon Air drone footage. The Axon Aware app is bundled with and available at zero additional cost for all OSP7+ subscription plan customers, as well as all a […]

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June 15, 2020

Astronics Corporation, a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced  the Freedom R8200 Communications System Analyzer, a nextgeneration land mobile radio (LMR) test instrument for public safety, maritime, commercial, and critical infrastructure communications systems. The new service monitor is the first test instrument that combines comprehensive digital […]

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June 11, 2020

Spirit AeroSystems announced it will reduce employment at sites supporting commercial programs as a result of lower demand for commercial airplanes. Spirit is a supplier to Airbus and Boeing, both of which announced lower production rates for commercial aircraft due to the impact of COVID-19 on the aviation industry. Executive Summary Financial Statements – Income […]

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June 10, 2020

TransDigm Group Incorporated announced that its wholly-owned subsidiary, TransDigm Inc., has successfully completed the previously announced private offering of $1.1 billion aggregate principal amount of 8.00% Senior Secured Notes due 2025 (the “Notes”). TransDigm Group intends to use the net proceeds from the offering of the Notes for general corporate purposes, including increasing its liquidity. […]

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June 8, 2020

Textron Aviation Inc., a Textron Inc. company, was awarded a contract for two additional Beechcraft King Air 350CER turboprop aircraft for the U.S. Customs and Border Protection (CBP) Air and Marine Operations (AMO). After mission modifications by Sierra Nevada Corporation, these two Multi-role Enforcement Aircraft (MEA) aircraft will join a fleet of 23 other King […]

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June 3, 2020

BWX Technologies has been awarded the contact for tank closure at the US Department of Energy Hanford Site. The DOE announced the award of the contract, which has an estimated value of $13 billion over a 10-year period, to Hanford Works Restoration, LLC, a JV between BWXT and Fluor Corporation. HWR has been selected to […]

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June 3, 2020

Ducommun is leveraging more within the defensemarkets and have improved revenue, despite of not only the impact from the virus in March, but also over $25mn of 737 MAX headwinds from last year, which for the size of the company’s P&L is impressive. Executive Summary Financial Statements – Income Statement and Forecast – Balance Sheet […]

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May 29, 2020

General Dynamics Information Technology (GDIT) announced it was awarded a new contract by the U.S. Department of State (DOS) Bureau of International Narcotics and Law Enforcement Affairs (INL) to support its Western Hemisphere Program (WHP). In partnership with INL WHP, GDIT will strengthen international counternarcotic, anti-crime and foreign partner law enforcement capabilities. The indefinite delivery […]

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May 28, 2020

Airbus Defence and Space’s order intake of €1.7bn included military aircraftrelated services, new contract wins in telecommunications and in connected intelligence. Also included is the Phase 1A demonstrator contract for Europe’s Future Combat Air Systems programme.  Executive Summary Financial Statements – Income Statement and Forecast – Balance Sheet – Cash Flow – Results Overview – […]

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May 27, 2020

Commercial Airplanes captured an order for 12 787 aircraft for All Nippon Airways, and produced the 1000th 787 at Boeing South Carolina.During the Q1FY20, Defense, Space & Security received an award for 18 P-8A Poseidon maritime patrol aircraft, as well as a contract to develop a SB>1 DEFIANT™ prototype for the U.S. Army’s Future Long […]

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May 22, 2020

Northrop Grumman Corporation has expanded its Next Generation Jammer Low Band (NGJ-LB) Capability Block 1 (CB-1) solution team with the addition of proven structure supplier CPI Aero, Inc. based in Edgewood, New York. Following the proposal submittal for NGJ-LB in January, Northrop Grumman is moving forward with CB-1 execution by selecting CPI Aero, Inc. to […]

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May 21, 2020

Mercury announced it received a $24mn order from a leading defense prime contractor for SWaP-optimized radio frequency modules ready for integration into an advanced electronic warfare system. The order was booked in the Company’s fiscal 2020 second quarter and is expected to be shipped over the next several quarters. Executive Summary Financial Statements – Income […]

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May 20, 2020

Aerojet Rocketdyne recently completed a successful static-fire test of an advanced large solid rocket motor, called the Missile Components Advanced Technologies Demonstration Motor (MCAT Demo), under contract to the Air Force Research Laboratory (AFRL). The company’s MCAT Demo large solid rocket motor design incorporates numerous advanced technologies and materials. The program’s primary goal is to […]

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May 18, 2020

Lockheed Martin Skunk Works® continues to evolve the U-2 Dragon Lady to support future battlespace needs under a recent contract award from the U.S. Air Force valued at $50 million. Under this contract, Lockheed Martin will lead the design, integration and test of the new advanced aircraft components, which will enable the U-2 to be […]

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May 14, 2020

Hexcel Corporation is collaborating with NaCa Systems, a Tier 1 supplier of natural fiber composite automotive interior parts, on the development of a lightweight carbon fiber prepreg and wood fiber composite sports car seat back using a rapid press molding process. This innovation validates a short-cycle time production process for CFRP and wood fiber composite […]

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May 7, 2020

The novel coronavirus (COVID-19) has wreaked havoc on people and markets around the world. The coronavirus outbreak is causing widespread concern and economic hardship for consumers, businesses and communities all across the globe. The situation is fast moving with wide impacts. The global aerospace and defense (A&D) sector has seen clear and immediate consequences. With […]

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April 29, 2020

Boeing and Airbus are the two biggest Aircraft manufacturers across the world. The commercial aircraft market, which is a major revenue driver for aerospace companies, is fully dominated by Boeing and Airbus, which together hold ~90% market share and has been characterised as a duopoly in the large jet airliner market since the 1990s. This […]

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April 21, 2020

Spirit AeroSystems announced it has opened a new composite manufacturing facility at its site in Prestwick, Scotland. This facility leverages advanced composite technology from Spirit’s research and development portfolio and brings new work to the site in the form of the Airbus A320 family spoiler. The Rt Hon. Nicola Sturgeon MSP, first minister of Scotland, […]

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April 15, 2020

Moog Australia Pty. Ltd., a wholly owned Australian subsidiary of Moog Inc., announced that the company has entered into a strategic agreement with Madrid-headquartered Escribano Mechanical and Engineering (Escribano or EM&E) to provide enhanced defence offerings in Australia and the Asia-Pacific markets. This strategic relationship aligns Moog’s core competencies in precision motion control for defence […]

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April 14, 2020

TransDigm Group Incorporated, announced that it has completed the divestiture of Souriau-Sunbank Connection Technologies (Souriau-Sunbank) to Eaton Corporation plc in a transaction valued at ~$920 million. Souriau-Sunbank was acquired by TransDigm in March 2019 as part of the Esterline Technologies acquisition and is a leading global supplier of highly-engineered interconnect solutions for harsh environments serving […]

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April 9, 2020

BWXT  has announced to enter into an amendment to its May 24, 2018 credit agreement with Wells Fargo Bank, N.A. and other lenders that increases its borrowing capacity along with lower rates for the company. Among other things, the agreement increases Revolving Credit Facility from $500 million to $750 million, extending the maturity date by […]

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April 8, 2020

Astronics Corporation, a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced  a new cooperation with China National Machinery Import and Export Corporation (CMC). The collaboration between Astronics and CMC will create a channel for Astronics to provide Chinese airlines, OEMs and service providers with state-of-the-art inflight entertainment and […]

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April 6, 2020

AeroVironment, Inc., a global leader in unmanned aircraft systems (UAS), announced it received a $8,584,734 firm-fixed-price U.S. Department of Defense Foreign Military Sales contract. The contract was awarded on December 17, 2019 to provide Puma™ 3 AE unmanned aircraft systems, training and support to an allied nation. Delivery is anticipated by June 2020. Executive Summary […]

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March 31, 2020

Aerojet Rocketdyne, the nation’s leading provider of space propulsion and power systems, has made arrangements with the INFINITY Science Center to have the world’s most powerful hydrogen-fueled rocket engine, the RS-68, on display for public viewing. Aerojet Rocketdyne is providing the engine to the INFINITY Science Center under a long-term loan agreement.  Executive Summary  Financial […]

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March 30, 2020

Airbus  and IQ have agreed to acquire Bombardier’s remaining stake in ACLP. This brings their holdings to 75% and 25% respectively. As part of this transaction, Airbus, via its wholly owned subsidiary Stelia Aerospace, has also acquired the A220 and A330 work package production capabilities from Bombardier in Ville Saint-Laurent, Quebec. Airbus will pay a […]

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March 30, 2020

Axon, announced that more than 1,000 Axon Body 3 cameras are now deployed in Cincinnati as part of a previously announced order of the Officer Safety Plan 7+. The plan includes several products on the Axon network including TASER 7, Axon Body 3, unlimited Axon Evidence (Evidence.com), the new advanced AIpowered tool, Redaction Assistant, and […]

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March 23, 2020

Ducommun Incorporated announced that its Lightning Diversion Systems (LDS) brand, a global leader in the design and manufacture of segmented lightning diverter strips and protection devices for aerospace and defense markets, has signed an exclusive licensing agreement with Wichita State University (WSU) for advanced lightning strike protection technology to be used on wind turbines.  Executive […]

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March 20, 2020

Hexcel is collaborating with Madshus, a leading innovator in the world of cross-country skiing, on the engineering of a range of next-generation dry carbon fiber tapes for Madshus’ acclaimed cross-country racing skies. Hexcel’s new HiTape® Dry Carbon Tapes improve the performance, manufacturing efficiency and surface finish of Madshus Skis. Hexcel supplies Madshus with three different […]

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March 16, 2020

Raytheon Comp. and United Technologies Corp. have entered into an agreement to combine in an all-stock merger of equals, with combined market value of close to $166bn and the combination will have annual revenue of $74bn, making it the second-largest aerospace & defense company in the U.S. by revenue. Executive Summary Financial Statements – Income […]

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March 13, 2020

Northrop Grumman Corporation and the company’s wholly-owned subsidiary, SpaceLogistics LLC, have successfully completed the first docking of the Mission Extension Vehicle-1 (MEV-1) to the Intelsat 901 (IS- 901) spacecraft in order to provide life-extension services. This historic accomplishment marks the first time two commercial satellites have docked in orbit and the first time that mission […]

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March 11, 2020

General Dynamics Mission Systems announced it was awarded a contract for the Army Consolidated Product Line Management Plus (CPM Plus) Program from the Army Contracting Command in Orlando, Florida. CPM Plus is an eight year, single-award, indefinite-delivery, indefinite-quantity, cost-plus fixed-fee/firm-fixed price contract with a ceiling of $883 million. Executing the contract will improve the Army’s […]

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March 5, 2020

Boeing the commercial & defense aircraft manufacturer, reported worst than expected Q4FY19 results and incurred its first annual loss in over 22 years, admitting the grounding of its 737 Max plane could end up costing $18.6bn. At Defense, Space & Security, the industry environment is positive as the Defense Appropriations Bill in place.The long-term outlook […]

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February 26, 2020

Mercury Systems M&A pipeline is robust and seeing interesting opportunities of varying sizes that are consistent with its strategy. The company used M&A strategically in three ways; to expand its capability set, gain access to adjacent markets, and then to penetrate those markets over time. Executive Summary Financial Statements – Income Statement and Forecast – […]

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February 14, 2020

United Technologies emerged with strong fourth quarter and annual results in FY19. In a year of unprecedented change, UTC delivered record sales, adjusted EPS and FCF in 2019 on continued aerospace strength and a return to profit growth at Otis. Collins Aerospace continued to deliver strong performance and achieved ~$300mn in cost synergies during the […]

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February 10, 2020

Drivers of revenue growth were primarily higher TASER 7 unit shipments, international demand for Axon Cloud services, increased demand for the legacy TASER devices, and growth of Axon Fleet in-car video systems.  Executive Summary  Financial Statements – Income Statement and Forecast – Balance Sheet – Cash Flow – Results Overview – Company Overview – Segment […]

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January 27, 2020

Global military shipbuilding and submarines industry caught pace in the recent past after easing of pressure in defence spending in the United States and European markets. Last five years saw the industry grow annually at 2.1% and capture total revenue of $65bn in 2019. The Department of Navy was allocated a budget of $194bn for […]

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January 27, 2020

AR Holdings, Inc. develops and manufactures propulsion systems for defense and space applications, as well as armaments for precision tactical and long-range weapon systems applications. ~95% of the company’s revenue is directly or indirectly attributable to the sales made to the US government. In addition to the services provided to the US government, the company […]

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January 17, 2020

BWX Technologies posted a record Q3FY19 result with consolidated revenue of $506mn, 18.9% up from Q3FY19 revenue of $435mn. Non-GAAP earnings per share stood at $0.79 which nearly doubled the same period figure of the last year. The management has increased its EPS guidance to $2.55 (from a previous EPS of $2.5) for FY19.  Executive […]

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July 3, 2019

737 Max is a cash cow for Boeing that accounts for a third of its profit and has since delivered about 370 737 Max from a backlog of more than 5,000 orders. The greater risk is to the reputation and future sales that was just establishing its bona fides with airlines. Number of pages – 52 […]

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