Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
Several services contractors say they're increasingly turning to products as a way to boost growth and differentiate themselves in a crowded market.
The White House said the fiscal year 2020 Pentagon budget includes $286 million for DOD efforts "to ensure a robust, resilient, secure, and ready manufacturing and defense industrial base," following the release of a report last year.
KeyW reported sales in its most recent quarter reached $126.3 million, roughly flat from the same three-month period a year earlier.
The Trump administration's fiscal year 2020 budget proposes expanding authority to provide foreign military financing loans to boost the sales of U.S. weapons abroad.
LMI Ventures, the new venture capital fund created by LMI, will focus on key technology areas that could benefit the company's customers and seek to make small bets in early-stage companies, according to LMI's chief executive.
Lockheed Martin's chief financial officer said today he remains optimistic about reaching resolution on a controversial Pentagon proposal on progress payments issued last year, but noted "we're going to be talking about this for a while."
A Reagan Institute task force comprised of lawmakers, former defense officials and industry executives is set to examine the "national security innovation base" and what the United States needs to achieve technologically to prevail in great power competition.
Ken Asbury, CACI's chief executive, has been on the job six years and is preparing multiple potential successors.
AeroVironment said it has not yet received government approval to sell its Switchblade tactical missile system to foreign nations, but remains “optimistic that we will be able to achieve that sometime in the near future.”
Science Applications International Corp. said Tony Moraco, the company's chief executive, will retire July 31, and Nazzic Keene, SAIC's chief operating officer, will succeed him.
Science Applications International Corp. said it has hired Bob Ritchie to lead its software practice, effective immediately.
General Dynamics said its board of directors has elected retired Navy Adm. Cecil Haney to serve as a director, effective immediately.
The Defense Department is scheduled to submit its budget to Congress this week and senior defense officials will be testifying on Capitol Hill.
The Defense Advanced Research Projects Agency is seeking to quickly pursue advances in artificial intelligence through 90-day competitions for other transaction agreements as part of its $2 billion AI Next campaign.
Leading industry lawyers on data privacy and security requirements say an upcoming federal acquisition rule will affect industries beyond contractors by extending strict controls currently used by the Defense Department to all federal agencies.