More submarines, jets for Indian navy on cards as Modi visits France

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  April 29, 2024 | International, Security

  CISA and FEMA IPAWS in Partnership with FCC Host Second National Meeting of Alerting Officials | CISA

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  September 16, 2019 | International, Aerospace

  The Next Big Thing: Lockheed Martin Makes Northern Alabama Flagship for Hypersonic Strike Work

  COURTLAND, Ala., Sept. 16, 2019 /PRNewswire/ -- Making Northern Alabama its central location for Hypersonic Strike Work, Lockheed Martin (NYSE: LMT) will establish a new facility for the assembly, integration and testing of hypersonics programs and locate the management and engineering workforce for many of these programs in Huntsville. The Courtland expansion will bring two new buildings in support of Lockheed Martin's portfolio of hypersonics programs. This decision brings 72 new jobs to Courtland and 200 new jobs to Huntsville over the next three years with additional job growth expected. During an official ceremony in Courtland today, Marillyn Hewson, Chairman, President and CEO for Lockheed Martin, with speakers Senator Richard Shelby, Governor Kay Ivey, Congressmen Robert Aderholt and Mo Brooks, and Rick Ambrose, Executive Vice President of Space for Lockheed Martin, spoke to the shared commitment it takes to expand operations in Northern Alabama and the collaborative effort between government and industry to provide this advanced capability to the warfighter. Rick Ambrose will host an event, later today in Huntsville, to celebrate the increased workforce expansion as part of this effort. Officials representing the Office of the Under Secretary of Defense, US Air Force, US Army and US Navy were in attendance to mark the occasion for the future site of the next hypersonic production facility. Lockheed Martin has a strong partnership with the state of Alabama that dates back several decades and includes research and development on rockets and space launch vehicles, tactical missiles, space exploration and air and missile defense targets. Lockheed Martin's Courtland and Huntsville employees are an established part of the community and weaved deeply into the fabric of the economy. The company employs over 2,000 people in the state of Alabama, who support local businesses, charitable organizations and volunteerism to multiple schools for STEM outreach and education. "The decision to bring hypersonic manufacturing to this region would not have been possible without the support of the State of Alabama, our local partners including Lawrence and Madison counties, the cities of Courtland and Huntsville and Tennessee Valley Authority as well as those elected representatives in Congress," said Scott Keller, vice president and general manager for Strategic and Missile Defense for Lockheed Martin. "On behalf of Lockheed Martin, we are honored to expand our presence in Northern Alabama and watch as the next cohort of innovators take advanced defense technology to levels we once thought were impossible." "Lockheed Martin has a longstanding relationship with the state of Alabama, and I am proud to see that strengthen even more as they make our state the flagship location for their hypersonic programs," said Governor Ivey. "Both Courtland and Huntsville will gain new jobs, which is always welcome news. I am proud and confident that Alabamians will help advance Lockheed Martin's goals as we begin working towards the advancements of the future." Lockheed Martin is proud to be an industry leader in the development, testing and fielding of hypersonic systems. Hypersonic Strike capabilities have been identified by the U.S. government as a critical capability that must be addressed in support of the U.S. National Security Strategy. Lockheed Martin is honored by the partnerships established with the U.S. Air Force, U.S. Army, U.S. Navy, and DARPA on key programs to meet this critical mission need. For additional information, visit our website: www.lockheedmartin.com/hypersonics https://news.lockheedmartin.com/2019-09-16-The-Next-Big-Thing-Lockheed-Martin-Makes-Northern-Alabama-Flagship-for-Hypersonic-Strike-Work

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  June 12, 2019 | International, Aerospace

  AeroVironment Acquires VTOL UAS Developer Pulse Aerospace, LLC for $25.7 Million to Strengthen Family of Small Unmanned Aircraft Systems

  Pulse's complementary Vertical Takeoff and Landing (VTOL) product family strengthens AeroVironment's leading family of fixed-wing small unmanned aircraft systems (UAS) Acquisition expands total addressable market by increasing mission capabilities of AeroVironment family of systems Pulse Aerospace receives multi-year contract award with a maximum value of more than $13 million from undisclosed defense customer for Vapor VTOL unmanned systems, spares and services Acquisition expected to be accretive to AeroVironment earnings by the third full year of operations SIMI VALLEY, Calif.--(BUSINESS WIRE)--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS) for both defense and commercial applications, today announced it has acquired Pulse Aerospace, LLC, a developer and supplier of small VTOL UAS, for $25.7 million in cash, including milestone-based earn-out payments of $5 million. AeroVironment financed the transaction entirely from available cash on hand. Pulse Aerospace is a leading developer of small VTOL UAS technology in the United States. Pulse's HeliSynth™ technology brings flight control, payload, and endurance capabilities to market at attractive price points for both defense and commercial end markets. Pulse recently received a multi-year contract award with a maximum value of more than $13 million from an undisclosed defense customer for its Vapor unmanned VTOL systems, spares and services. AeroVironment expects the transaction to be accretive to its earnings by the third full year of operations. “The talented Pulse Aerospace team has created a solution set that is unique and will expand our family of unmanned systems by addressing increasing demand from our customers for small VTOL solutions,” said Wahid Nawabi, AeroVironment's president and chief executive officer. “This transaction brings together two highly complementary companies in terms of products, markets and culture, and will better position AeroVironment to grow our share of the small UAS market. The team at Pulse Aerospace shares our focus on disruptive innovation and we welcome them to AeroVironment. Together, we will deliver even more capability to our customers in the United States and more than 45 allied countries around the world.” “We are excited to join together to realize the full benefits of this transaction as we employ key, future-defining technologies such as robotics, sensors, software analytics and connectivity. Additionally, we look forward to gaining access to the strong technical talent pool in the Lawrence, Kansas area to help achieve our long-term growth objectives,” Nawabi added. “AeroVironment's global market presence dramatically increases the reach of Pulse's VTOL UAS technology,” said Aaron Lessig, Pulse Aerospace, LLC's chief executive officer. “Pulse's offering expands AeroVironment's mission capabilities with increased payload capacity, which broadens customer use cases. We look forward to growing AeroVironment's share of the global unmanned systems market together.” In connection with the transaction, Pulse Aerospace's Lawrence, Kansas facility will become AeroVironment Innovation Center - Midwest, with a focus on small VTOL unmanned aircraft and mission planning solutions. About AeroVironment, Inc. (AV) AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information visit www.avinc.com. Safe Harbor Statement Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. https://www.businesswire.com/news/home/20190611005589/en