France buys 42 Rafale jets for more than $5.5 billion

Sur le même sujet

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  13 août 2019 | International, Aérospatial

  Could Textron Become Purer A&D Company, Or Be Sold?

  By Michael Bruno As a multi-industrial manufacturer, Textron sells many transportation vehicles, from military helicopters to UAVs and even snowmobiles and recreational four-wheelers. But a new corporate review may indicate the conglomerate could be looking to become an aerospace and defense (A&D)-focused company similar to other large rivals, according to analysts. Earlier this month, Textron announced it is reviewing strategic alternatives such as a sale or spin-off of its German Kautex business unit, which produces fuel systems and other functional components. Kautex operates more than 30 plants in 14 countries and generated more than $2.3 billion in revenue in 2018. “Kautex strategic review suggests Textron wants to become an A&D ‘pure-play,'” Cowen analysts Cai von Rumohr and his team said Aug. 9. “The thesis is that ‘new Textron' could command a higher [valuation] multiple closer to A&D pure-plays; and it would have optionality for merger and acquisition (M&A) or stock repurchasing to leverage its new product-driven growth.” The Cowen analysts said they think that if Kautex is disposed of, so could golf cart maker Textron Specialized Vehicles or other units in Textron's Industrial division. In turn, the company could use proceeds and money saved to bolt on smaller A&D businesses, or it could continue active share repurchases to lever benefits of expected growth from new products such as Longitude, Sky Courier, Denali and V-280. “A third possibility is that free of Industrial, Textron could be of interest to larger primes, who would bring more lobbying clout to V-280,” the analysts said. Buying candidates could be Boeing or General Dynamics, they added. Separately, a well-known adviser to the A&D industry recently told Aerospace DAILY that Textron would make a good acquisition target for other A&D players. “Over the years I've had my clients take a hard look at that one,” the consultant said. This person listed Boeing and Lockheed for possible top-level consolidation, although getting Pentagon and Trump administration approval could be more of a challenge than for other recent M&A deals. To be sure, Textron is already an aerospace-focused multi-industrial. According to Cowen, it is the leader in Class 1-5 business jets (which make up 24% of annual total revenue), with positions in helicopters via Bell (26%), defense systems (12%), and then industrial products (25%). Defense as an end-market accounts for 29%. But conglomerates are increasingly breaking up and those with A&D elements continue to focus on those businesses. United Technologies is working to spin off its elevators and air conditioning businesses while adding Raytheon. General Electric is divesting major units but favoring aviation. Honeywell International in recent years has spun off units to focus more on A&D and related businesses. One reason for the portfolio shaping is because of pressure from major investors who want companies to be more focused, in part so they can balance their own investment portfolios rather than relying on a company to try to play in various industries. Goldman Sachs is advising Textron on its review. Textron reiterated that no decision has been made and there are no assurances that the process will result in any transaction being announced or completed. The company has not set a definitive timetable for completion of its review of strategic alternatives and does not intend to make any further announcements related to its review unless and until its board of directors has approved a specific transaction or Textron otherwise determines that further disclosure is appropriate. https://aviationweek.com/business-aviation/could-textron-become-purer-ad-company-or-be-sold

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  23 juillet 2018 | International, Naval

  Navy's Fire Scout Drone Helo May Be Sold to Allied Militaries Soon

  By Oriana Pawlyk RAF Fairford, England -- Northrop Grumman Corp. is looking to expand sales of its MQ-8C Fire Scout abroad as the unmanned helicopter preps for its anti-submarine warfare mission. Sitting buttoned-up on the flightline here, the Fire Scout drone -- complete with the U.K.-based Ultra Electronics' sonobuoy mission pod -- is receiving exposure just weeks after completing the first set of mission tests of its target identification, surveillance and surface warfare abilities aboard the USS Coronado. "They've matured it to a level now where [people are] recognizing the value in different missions it is able to do and the [U.S. Navy] is very excited about expanding that capability," said Brian Chappel, Northrop's sector vice president and general manager of autonomous systems. Military.com sat down with Chappel during the Royal International Air Tattoo here. Northrop did not showcase the UAS at Farnborough. "Some of those missions are going to be very interesting to customers around the world. Antisubmarine warfare, communication nodes, support to service action groups, and also with beginning to see a shift in the export policy around this class of system in the U.S., we think there's an opportunity now to take this system and its capability and what it does and find some fertile ground overseas," he said. Related content: US Still Hopes to Sway Turkey to Buy Patriot Missiles over S-400 Air Force Slowly Building Up in Eastern Europe: USAFE Commander Military.com Farnborough Airshow Coverage Chappel's comments come as the Trump administration on Monday finalized its Conventional Arms Transfer (CAT) Policy. The State Department recently approved the policy, which aims to relax export rules as well as create channels for U.S. defense industry to sell weapons and drones to international customers without U.S. government sign-off. "We're in various stages in providing information to [partners] through the Navy," Chappel continued. "And by bringing it here [during] the 100th anniversary of the Royal Air Force, a lot of different forces, a lot of people to talk to here that wouldn't normally think about a Fire Scout, and we get to ... tell them how it's a little bit different than just unmanning a helicopter that flies by itself." The Navy, which is set to use Fire Scout aboard its Littoral Combat Ships, is working with Northrop to add different capabilities, Chappel said. "There's a radar that's now being implemented on the system that when it goes operational, will extend the horizon [of it] hundreds of miles beyond," he said, referring to Leonardo's Osprey 30 lightweight active electronically scanned array radar, as well as common datalink Link 16. The UAS is a stripped-down version of the Bell 407. While the anti-sub mission pod would also be an enhancement, it is not currently used by the Navy. The Fire Scout also participated in the U.S. Navy-led RIMPAC exercises this month. The drone can stay airborne for 12 hours and fly at a ceiling of 16,000 feet. Its radar range lets it see roughly 100 miles out to detect a surface target. Chappel estimates that in 10 years additional U.S. units will be using the drone, as well as allies. He said it will evolve for different mission sets. "Do you want it to be an [anti-sub warfare] platform today, and a comms node tomorrow or mixing and matching ... in between?" he said, adding that additional sensors could be integrated for range. "That type of flexibility will make it very attractive." https://www.military.com/dodbuzz/2018/07/17/navys-fire-scout-drone-helo-may-be-sold-allied-militaries-soon.html

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  4 novembre 2021 | International, Naval

  Amid high hopes, can the European Patrol Corvette deliver?

  An industrial source told Defense News that each vessel is expected to cost around '‚¬250-300 million, making the Corvette program worth '‚¬5-6 billion, even before Greece confirms an order and any new members sign up.