Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
Lockheed discloses $225 million charge on classified aeronautics program
Lockheed Martin told investors it took a $225 million hit in the second quarter of 2021 on a classified aeronautics development program.
Deloitte acquires Sentek Consulting
Deloitte announced it has acquired Sentek Consulting, a San Diego-based systems engineering and cybersecurity firm that primarily serves the Navy.
Shield AI buys Heron Systems
San Diego-based, venture capital-backed defense technology company Shield AI announced it has acquired Heron Systems, a maker of artificial intelligence products.
Warren gets recusal provision into defense bill
Sen. Elizabeth Warren (D-MA) spearheaded the inclusion of a provision in her chamber's upcoming defense policy bill that would extend the required time Pentagon officials must recuse themselves from matters involving companies where they have been previously employed.
Northrop hires Witt as chief sustainability officer
Northrop Grumman said it has hired Michael Witt to be the company's vice president and chief sustainability officer.
The week ahead
The House Armed Services Committee begins subcommittee work on the fiscal year 2022 defense authorization bill this week and defense contractors discuss their quarterly earnings.
House lawmakers propose new legislation to protect defense supply chain
A group of House Armed Services Committee members have developed six legislative proposals for inclusion in the fiscal year 2022 defense policy bill to address critical risks in the U.S. defense supply chain stemming from foreign dependencies, especially China.
Army selects five companies for OMFV concept design
The Army has awarded contracts for the concept design phase of the Optionally Manned Fighting Vehicle competition to five companies, including one non-traditional contractor.
Navy to award Doris Miller EMALS and AAG pre-production planning contract by end of year
The Navy will award a pre-production planning contract later this year for the Electromagnetic Aircraft Launch System (EMALS) and Advanced Arresting Gear (AAG) for the Ford-class aircraft carrier Doris Miller (CVN-81), a service spokesman told Inside Defense.