Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
Lockheed plans to cut 'at least a couple million square feet' of its real estate
Lockheed Martin is preparing a plan on the future of work, which it says will result in a footprint reduction of at least 2 million square feet in the coming years.
AE Industrial Partners merges NuWave Solutions and PCI Strategic Management
NuWave Solutions and PCI Strategic Management, both owned by private-equity firm AE Industrial Partners, said today they have merged to form BigBear.ai.
NDIA, in new 'Vital Signs' report, gives defense industrial base a 'C' grade
In a new report released today, the National Defense Industrial Association, partnered with Govini, gives the health and readiness of the defense industrial base a "C" grade, unchanged from last year.
Northrop Grumman says it will exit cluster munitions contract
Northrop Grumman said it will exit by the end of the year a contract it inherited through acquiring Orbital ATK that supports testing cluster munitions components.
General Dynamics reorganizes mission systems and IT businesses
General Dynamics said it has consolidated its mission systems and information technology units into a single reporting unit, called technologies, "to better reflect the way we are running the business, the overlap and commonality of customers, and customer demand for end-to-end solutions melding technology, hardware and software."
Boeing defense reports $275 million tanker charge
Boeing said its defense business recorded a $275 million pre-tax charge last quarter related to the KC-46 tanker program. The charge brings Boeing’s total charges to $5.1 billion -- higher than the $4.9 billion ceiling set in its development contract.
Raytheon says planned foreign sale unlikely to receive approval from Biden administration
Raytheon Technologies said it is no longer expecting to complete an anticipated deal with a Middle Eastern country.
Raytheon says it will pursue savings in defense
Raytheon Technologies, which has been cutting costs in its commercial business to cope with the ongoing pandemic, said it will also make changes in its defense work.
Peraton to pick up Perspecta
Perspecta said it has agreed to be acquired by Peraton and its private-equity owner Veritas Capital in a deal worth $7.1 billion.
Booz Allen says it is accelerating recruitment
Booz Allen Hamilton executives said the company saw a reduction in headcount during its most recent quarter because of lower recruiting rates and the divestiture of a small defense contract.
L3Harris reports sales, profit declines
L3Harris Technologies said sales in its most recent quarter reached $4.7 billion, down almost 4% from the same three-month period a year earlier.
Textron Systems reports lower sales, while Oshkosh sees improvement
Textron Systems said sales in its most recent quarter totaled $357 million, down almost 11% from the same three-month period a year earlier.
AE Industrial Partners buys UAV Factory
Private-equity firm AE Industrial Partners said it has acquired UAV Factory to serve as a new unmanned technology platform.
Lockheed names Taiclet chairman
Lockheed Martin said Jim Taiclet, its chief executive and president, will serve as chairman of its board of directors, effective March 1.
The week ahead
A nomination hearing is scheduled this week to consider Kathleen Hicks as deputy defense secretary. Meanwhile, senior defense officials are slated to speak at several virtual events.
Imminent ruling in JEDI cloud lawsuit could force Pentagon to revaluate program's future
The Pentagon has told lawmakers it may abandon the Joint Enterprise Defense Infrastructure procurement if a federal court allows Amazon's allegation that former President Trump tainted the contract award to move forward.
DOD officials: Changes possible in Pentagon cyber certification program on compliance with higher maturity levels
The Defense Department is working on adjudicating comments from an interim final rule that established the Pentagon's Cybersecurity Maturity Model Certification program, which officials said Wednesday could change based on ongoing work on maturity levels four and five.
AI commission calls on Pentagon to achieve 'DOD-wide digital ecosystem' by 2025
The National Security Commission on Artificial Intelligence began debate on its final report flush with recommendations for how the U.S. government should approach the field in the coming decade, including the suggestion of a key deadline for the Defense Department.