11 août 2022 | Local, Aérospatial

CF Snowbirds grounded in ‘operational pause’ as crash investigation continues - Skies Mag

Following an accident earlier this month involving a CT-114 Tutor jet operated by the Canadian Forces Snowbirds, an operational pause has been ordered on the entire Tutor fleet.

https://skiesmag.com/news/cf-snowbirds-grounded-operational-pause-crash-investigation-continues/

Sur le même sujet

  • Analysis: With Canadians tuned out on defence, political parties can safely ignore the topic at election time

    8 octobre 2019 | Local, Aérospatial, Naval, Terrestre, C4ISR, Sécurité

    Analysis: With Canadians tuned out on defence, political parties can safely ignore the topic at election time

    By DAVID PUGLIESE, OTTAWA CITIZEN It's not much of a surprise that defence and security issues aren't a factor in this federal election. Despite the concerns of various commentators and analysts, the political parties can safely ignore those topics. Even though billions of dollars are to be spent on the future purchase of military equipment, and Canada is engaged in training missions in Ukraine, Latvia and Iraq, the average Canadian doesn't appear to care all that much about such topics. That doesn't mean that such a viewpoint is right. But it's typical of recent elections. The parties have touched briefly on defence and security in their platforms. Conservative Leader Andrew Scheer has noted he would improve relations with the U.S. and join the U.S. missile defence program. His government would buy new submarines and improve Arctic sovereignty. The Conservatives haven't discussed what it would cost to join the American missile defence system and there is no price tag for new submarines designed to operate in the Arctic. The subs, in particular, could be costly. In 2016 Australia announced its program to acquire 12 new subs with a price tag of $50 billion. Earlier this year Scheer vowed that a Conservative government would take the politics out of defence procurement, equipping the Canadian Forces with only what it needs. But even as he re-emphasized that point on the campaign trail, Scheer promised to order a second naval supply ship to be built at Davie shipyards in Quebec. While that would create jobs in the province and potentially generate support for the Conservatives, the leadership of the Royal Canadian Navy is adamant the second vessel is not needed. Liberal party defence promises have fewer details. Once again the Liberals have promised to increase support for the United Nations. But that's a repeat from the 2015 election campaign and many defence analysts point out that the Liberals didn't really deliver on that in their first mandate. There was the Canadian Forces mission to Mali, finished after only a year, and the assignment of a transport aircraft for UN use. But little else. The Liberals have a new promise to use the Canadian military's expertise for climate-related disasters, but again there are few details. They've also resurrected another of their 2015 election promises, which was to reform the defence procurement system. Little was done over the past several years to improve the system to purchase billions of dollars of military equipment. This time around the Liberals are promising to create a Defence Procurement Agency but it is unclear how that would be set up. The Green party has promised stable funding for military equipment and training, deployment of military personnel to deal with climate change disasters and pollution in the Arctic, to sign a treaty to abolish nuclear weapons and to cancel a deal with Saudi Arabia for light armoured vehicles. The NDP stated they would hold a fair competition for new fighter jets, keep shipbuilding procurement on time, stop the privatization of services at military bases and put more focus on peacekeeping. While defence and security issues are important, and can be costly to taxpayers, they don't seem to appear at the forefront of voter concerns. Most of the time they don't even register. Despite the thousands of words written and spoken by politicians and defence analysts about aging fighter jets, Canadians aren't marching in the streets to demand replacements for the RCAF's CF-18s. Scheer's promise to spend $1.5 billion to buy new medical imaging equipment for hospitals across Canada is more directly relevant to the average Canadian – who likely knows someone who has had to wait months for a MRI – than his promise to have Canada join the U.S. missile defence shield. The lack of interest by Canadians on defence matters has not been lost on politicians in power, particularly when they need to cut spending. By realizing that defence issues concerned only a small portion of the electorate, Conservative Prime Minister Stephen Harper – who counted himself as a politician firmly behind the Canadian Forces – was able to chop the military's budget. At the heart of that issue is the lack of connection to and knowledge of the Canadian military by most Canadians. That was illustrated by a July 2018 report commissioned by the Department of National Defence which concluded that, “Awareness of and familiarity with the [Canadian Forces] was generally very low; virtually non-existent among those in the younger age group.” Only 26 per cent of those surveyed had some awareness of what the Canadian Forces had been doing over a year-and-a-half period. They couldn't even name what types of missions the military did at home, despite the high profile responses by the Canadian Forces to natural disasters such as floods and forest fires. Participants in the study were even surprised the learn the Canadian Forces operated in the Arctic. It's a situation that doesn't bode well for the future of the Canadian military. https://ottawacitizen.com/news/national/defence-watch/with-canadians-tuned-out-on-defence-political-parties-can-safely-ignore-the-topic-at-election-time

  • After The Shock: Implications For M&A In The Aerospace & Defense Market

    29 juin 2020 | Local, Aérospatial

    After The Shock: Implications For M&A In The Aerospace & Defense Market

    By Adil Khan, Jim Adams and Steve Beckey Forbes; KPMG Contributor Jun 23, 2020 The current economic disruption—coming on the heels of the 737MAX suspension—has varying impact across A&D segments. The impact on commercial aerospace has been immediate and extensive, while the defense sector has largely remained unscathed. However, it is hard to see how it will remain so, given the extensive fiscal measures being taken. What will this mean for M&A in A&D? Some trends are beginning to emerge that will affect the entire deal life-cycle (from deal strategy through integration and value creation). Yet, as in other times of economic disruption, new opportunities will emerge, which leads us to believe that the slowdown of M&A activity will be short-lived. As we enter this next phase, deal makers who adapt quickly to the realities of the new industry landscape could be well positioned to maximize value. Pre COVID-19 environment Not too long ago, commercial aerospace was booming, with year-over-year ramp ups in build rates and record backlogs. There were expectations of another golden decade — further extending the unprecedented 14-year “super up-cycle”, defying the long-standing cyclicality of the sector. However, in 2019, the historic correlation between GDP, air-traffic growth, carrier profitability, orders and build rates was suddenly disrupted. GDP and airline profitability levels remained relatively healthy, but new orders and build rates dropped as the industry grappled with the 737MAX shock, as well as a slowdown in the twin-aisle segment. Other undercurrents also emerged — slowdowns in world trade from escalating tariff tensions, weakness in high-growth geographic markets such as China and India, and declining consumer confidence. In contrast, U.S. defense spending was on the rise, averaging 4 percent1 annual growth over the past 5 fiscal years; the $738 billion FY2020 defense bill2 ensured this momentum would continue. The government services sector was also set to benefit from continued funding increases to modernize IT infrastructure and address evolving national security challenges. With general confidence in the long-term fundamentals of the sector and a favorable budgetary environment, players in certain A&D segments pursued M&A to build scale. Others “re-realized” that content matters and initiated vertical and horizontal integration strategies to capture more value and drive cost competitiveness, or acquired targeted niche capabilities and emerging technologies. We also saw the emergence of Super Tier I's through scale-driving consolidation aimed at broadening capabilities and potentially exerting greater influence on OEMs. Deal volume in the A&D sector reached record levels — almost doubling over the last 5 years and outpacing the broader M&A market by 40 percent.3 Valuations remained elevated on the strength of high bidder interest, limited supply of attractive assets, high A&D stock valuations (which outperformed the S&P 500 by 8 percent),4 as well as healthy balance sheets and strong cash positions. TEV/EBITDA multiples for A&D transactions averaged 11x,5 outpacing increases in the overall M&A market. Although, deal volumes moderated in the second half of 2019, amid elevated uncertainty about defense spending heading into a presidential election year, the overall outlook remained optimistic. COVID-19 impact COVID-19 caused a precipitous collapse in air traffic. With travel restrictions and stay-at-home orders, carriers around the globe made unprecedented cuts to capacity, idled fleets, and began deferring or canceling new aircraft deliveries. Also, the MRO (maintenance, repair, and overhaul) and aftermarket segments, which had benefited from the prolonged 737MAX grounding and high fleet utilization, suddenly faced stiff headwinds. Thus far, the defense industrial base has not experienced a COVID-19 demand shock. There is no noticeable disruption in appropriations or major delays and cancellation of military programs. However, as in the commercial sector, defense contractors are actively monitoring their supply base and taking steps to preserve liquidity, minimize supply chain disruption, and taking measures to comply with CDC and local government guidelines. The range of scenarios for defense spending is bookended by two scenarios: an elevated national security threat that would preserve or accelerate funding, or a reordering of budget priorities to fund social and other mandatory programs, resulting in sequestration-type measures, similar to 2011. With these developments, volatility in the financial markets, lack of access to financing, alternative more pressing liquidity needs by corporates and most importantly, uncertainty in the marketplace, deal flow in A&D has come to an immediate standstill. Several “in-flight” processes have been halted, new deals in the pipeline have been deferred, and even some announced transactions terminated. Access to the new public offering market is effectively closed. The gap in expected valuations between buyers and sellers has widened considerably, due to disparate perceptions of the extent of economic disruption caused by COVID-19; contrasting views on reopening of the economy and the pace of return to normal; and diverse perspectives on what the post-COVID-19 new reality looks like. This has rendered financial forecasts and pre-COVID-19 market perspectives obsolete. Further, the extent and nature of unusual and non-recurring events6 impacting financials, present considerable challenges for deal makers to form a credible view of normalized earnings and cash flows. With the lack of reliable projections, it is nearly impossible to form a credible view on valuations let alone bridge this gap. Additionally, although M&A teams have attempted to navigate through practical challenges with offsite due diligence, virtual facility tours, video conferences, etc., adapting to a virtual M&A environment, especially for cross-border deals, has been challenging. Developments to watch as economies reopen Given the health concerns, changes in social behaviors (some of which may be slow to reverse) and anticipated lead-time to an effective vaccine, a V-shape recovery in air traffic appears increasingly unlikely. As governments move from combating coronavirus to reopening economies, the pace and extent of the economic recovery is expected to vary significantly around the world. Further, some long-lasting or permanent developments may trigger some dramatic shifts in the sector: KPMG Implications for M&A trends and outlook KPMG Although we probably do not expect to see M&A activity return to the pre-crisis levels immediately, we expect M&A activity to drive realignment of the industry landscape in the post COVID-19 environment. Implications for M&A Capabilities As we enter the next phase, deal makers will need to adapt to the realities that impact how deals get done. Examples include: KPMG While the challenges are intimidating, the opportunities will be vast, and those who move quickly and decisively are likely to be rewarded for years to come. Those who take this unique opportunity to prepare and are ready to act will stand ready to reshape the A&D industry. 1. 2019 DoD Comptroller Data (Green Book) 2. Department of Defense 3. CapIQ, Institute for Mergers, Acquisitions, and Alliances 4. Year return, S&P A&D index vs S&P 500 5. Trailing 12-month average to June 2019 and avg. 16x for deals >$500M in value; CapIQ, Dacis Company reports and Press releases 6 Worker furloughs, facility shut-downs, loss of business or order cancellation, idled or underutilized facilities, CARES Act funding, changes to performance-based compensation structures or payouts, health and sanitization related measures, IT infrastructure investments to adapt to remote working environment, deferral of payroll taxes, carryback of NOLs, increased interest expense tax deduction, etc KPMG Contributor

  • L3 Wescam launches In-Flight training course for MX-Series EO/IR turrets

    5 mars 2019 | Local, Aérospatial, C4ISR

    L3 Wescam launches In-Flight training course for MX-Series EO/IR turrets

    L3 Wescam announced on March 4 the launch of its In-Flight training course as the latest solution in its family of aviation training platforms for MX-Series airborne electro-optical and infrared (EO/IR) imaging and targeting systems. L3's In-Flight training program includes theoretical in-class training combined with pre- and post-flight simulation training and in-flight, mission-centric training. With the ability to tailor the training curriculum to match a customer's specific turret configuration and the advantage of both daylight and low-light flight opportunities, the course has been developed to support students of varying levels of skill and experience with conventional flight scenarios and operator experiences. Designed to facilitate student-centric learning, the four-day program includes in-depth training of all sensors, maintenance and organizational-level maintenance tasking, and crew resource management. “L3 is proud to support the development of MX operational and maintenance teams with a comprehensive suite of progressive training solutions that ensures crews are always mission-ready and able to operate their MX product to its full ability,” said JD Richard, vice-president of Customer Service for L3 Wescam. “The curriculum has been built to help students identify first-hand knowledge and operational gaps, and participate in closed-loop, adaptive training to support their personal growth and development, which ultimately helps produce higher-quality and better prepared operators.” “What's so unique about this course is that it is developed and delivered by us, the OEM,” said Brendan McCormick, lead trainer for L3 Wescam. “Train from the source. Learn from the best. We know the MX products, technologies and capabilities better than anyone else – no one is better qualified to teach and train the user community than our team of highly qualified trainers here at L3.” L3's In-Flight training can be purchased as a complete buy-out, where customers book all six seats and have the curriculum fully customized to support their exact turret and configuration. Training can be facilitated using the customer's aircraft and sensor system, or customers can take advantage of L3's extensive inventory of training assets complete with Wescam's latest sensor offerings. Alternatively, L3 offers open enrollment for the purchase of individual seats. The curriculum is delivered using a generic turret configuration. L3 Wescam's Cessna Caravan 208B is one asset used for this practical training – it allows for the installation of a variety of combination turrets as two turrets can be mounted at one time. Courses are hosted from L3's training facilities in the USA. Visit Wescam.com/flighttraining for training dates and availability. https://www.skiesmag.com/press-releases/l3-wescam-launches-in-flight-training-course-for-mx-series-eoir-turrets

Toutes les nouvelles