May 28, 2024 | International, Security
This new order once again underlines Rheinmetall's leading technological position in the development and production of highly efficient ammunition for air defence in Europe.
November 2, 2022 | International, Naval
Fifteen of the 21 vessels have been delivered to 11 Pacific Island nations under the Australian Government’s Pacific Maritime Security Program, since 2018
January 18, 2021 | International, Aerospace
China's new WJ-700 high-altitude, long-endurance and high-speed armed reconnaissance drone successfully completed its maiden flight earlier this week. The “rare type” drone is capable of executing both attack and reconnaissance missions in China, according to a statement the Third Academy of the state-owned arms firm China Aerospace Science and Industry Corp (CASIC) sent to the Global Times. First unveiled at Airshow China in 2018, the WJ-700 is expected to have a maximum take-off weight of 3,500 kg, with a maximum endurance of 20 hours. It is capable of performing air-to-surface precision strikes in multiple situations such as stand-off ground attacks, anti-ship, and anti-radiation attacks, the statement said, noting that it will “create a new pattern for drone combat.” China wants to begin selling the drones to domestic and international market needs in the next five to 10 years. Compared to other popular drones, the distinguishing characteristic of the WJ-700 is its large size, meaning it has an outstanding payload capacity that allows it to carry larger munitions like anti-ship missiles and stand-off weapons that enable the drone to launch attacks from outside of an enemy anti-aircraft fire coverage zone, Wei Dongxu, a Beijing-based military expert, said. Key tactical and even strategic battlefield hubs, including radar installations, warships and command centers could be targets of the WJ-700, analysts said. The WJ-700 could deliver diverse combat missions in high-threat battlefield environments with its precision combat and wide-area reconnaissance and surveillance capabilities. After completing various system-level tests and verifications, it will be officially put into combat applications, the academy said. https://www.defenseworld.net/news/28768#.YAXP_-hKiUk
April 8, 2020 | International, Aerospace, Naval, Land, C4ISR, Security
Sean Broderick WASHINGTON—The Trump Administration has asked Congress for an additional $250 billion in small-business payroll loan funding, providing more cash to the coronavirus pandemic emergency funding program that many small aerospace suppliers are expected to tap. U.S. Treasury Secretary Steve Mnuchin tweeted the news April 7, confirming that, “at the direction of President Trump,” he has asked Democrat and Republican leaders in both the House of Representatives and Senate for more Paycheck Protection Program (PPP) funding “to make sure small businesses get the money they need!” The PPP, part of the March 27 Coronavirus Aid, Relief, and Economic Security (CARES) Act, was set up to quickly get funds to eligible businesses to cover eight weeks of payroll costs as well as most rent, utility and mortgage-interest expenses. Companies can apply for a one-time PPP loan of up to 2.5 times their average monthly 2019 payroll, up to a maximum $10 million. So long as 75% of the funds are used for payroll costs, the loans do not have to be repaid, making them de facto grants. The CARES Act allocates $349 billion to the program, but early popularly suggests that more funding may be needed to meet demand. The Small Business Administration (SBA) processed more than $70 billion in loans in PPP's first three days after the program opened April 3, though it did not say how much of that has been funded. Some 250,000 small businesses, out of an estimated 30 million, have applied for PPP funds. Mnuchin said he has spoken with Congressional leaders and is confident that he has bipartisan buy-in. “We look forward to the Senate passing that on [April 9], and the House passing that on [April 10]” Mnuchin told reporters during an April 7 media briefing. Additional funding could be approved quickly. Senate Majority Leader Mitch McConnell (R-Kentucky) said in a statement that he would work with Mnuchin and fellow Senate leaders to approve further funding within days. House Democrats are already working on a larger bill, which leader Nancy Pelosi calls CARES 2, that includes more PPP funding. PPP loan applications, submitted through the SBA Small Business Administration (SBA) and funded by participating lenders, began rushing in as soon as the program opened April 3. SBA Mnuchin said April 7 that more than 3,000 lenders are onboard, with additional institutions expected to participate. The program experienced some early hiccups, due in part to its scale and how quickly it has come together. CARES became law on March 27, and interim rules on how PPP would work were issued late April 2, just hours before applications were set to start. The PPP's broad applicability, lack of requirements for guarantees or other collateral, and de facto grant properties—the loans become forgivable if guidance is followed—have made it a catch-all for many small businesses. The general SBA limit for a small business is 500 employees, but it is based on staff or revenue limits set in the North American Industry Classification System. Many aviation businesses, aircraft and engine parts makers and maintenance providers, have limits above 500 employees. The PPP's potential reach and theoretically streamlined application and fulfillment times mean industry trade associations that represent smaller businesses are urging their members to examine PPP loans. https://aviationweek.com/air-transport/aircraft-propulsion/us-small-businesses-may-get-more-covid-19-emergency-funding