Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
HII CEO says company likely won't be able to make up all delays, cover all costs related to COVID-19
The chief executive of Huntington Ingalls Industries says the company has returned to its pre-pandemic production rate -- but the company lost time and money it will likely not fully recover.
Huntington Ingalls Industries created a new chief operating officer role to better bring together elements of the company's work, according to its chief executive.
The Pentagon has added nine firms to a list of companies the Defense Department has linked to the Chinese military operating directly or indirectly in the United States.
Pentagon unveils 'Trusted Capital Digital Marketplace' to link vetted investors with defense companies
Pentagon officials have released more details on a revamped, digital version of the Trusted Capital Marketplace, highlighting how the program will stave off "adversarial capital" by linking vetted sources of finance with defense companies requiring investment.
AeroVironment said it has agreed to acquire privately held drone maker Arcturus UAV for $405 million.
VTG said it has acquired Intelligent Shift in an effort to expand its pool of customers and its systems, software, and digital engineering capabilities.
Booz Allen Hamilton said it has sold its technical, engineering, advisory and management support business, which serves the Missile Defense Agency and has 110 employees, to System High.
Insitu has agreed to pay $25 million to settle allegations it knowingly submitted materially false cost and pricing data for U.S. Special Operations Command and Navy contracts to supply and operate drones, the Justice Department said.
Maxar Technologies said it has named Heather Wilson, the former Air Force secretary, to its board of directors.
Huntington Ingalls Industries said its technical solutions division has hired retired Navy Vice Adm. Thomas Moore to serve as vice president for nuclear operations for its nuclear and environmental services business group.
LinQuest said it has named Kent Wilcher chief growth officer.
President-elect Biden will be inaugurated this week and lawmakers are scheduled to hold hearings with retired Army Gen. Lloyd Austin, Biden's nominee for defense secretary.
A bipartisan panel of current and former government officials, including Pentagon acquisition chief Ellen Lord and Sen. Mark Warner (D-VA), spoke Thursday about threats to the U.S. defense industrial base, specifically addressing the tension between on-shoring to protect supply chains and competing with China around the globe.
The Pentagon, which saw four years of chaotic senior leadership churn under President Trump, is preparing for yet another change in personnel, this time for the team nominated by President-elect Biden.
The Pentagon has fallen short in sharing a list of critical military capabilities with key Defense Department stakeholders and outside government agencies, potentially putting at risk federal efforts to protect those technologies, according to a new Government Accountability Office report.