Defense Business Briefing -- Sept. 24, 2024

Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.

This week's top story

Fairbanks Morse Defense to acquire naval propulsors and handling business from Rolls-Royce

Rolls-Royce has agreed to sell its naval propulsors and handling business to Fairbanks Morse Defense in an acquisition that will see three facilities producing propellers, waterjets and marine handling equipment change hands, according to announcements from the two companies.

News & notes

Army has lifted stop-work order for AeroVironment

The Army has lifted its stop-work order for an August contract awarded to AeroVironment worth up to $990 million for the Switchblade loitering munitions system.

Navy announces private-equity partnership aimed at submarine industrial base improvements

The Navy has announced its involvement in a new "public-private collaboration" with the United Submarine Alliance (USA), Qualified Opportunity Fund LP -- a private-equity fund that has purchased 355 acres from Alabama Shipyard that will be used to build submarine modules and expand industrial base capacity.

RTX embracing open-systems architecture, holding on tight to IP for particular functions

Collins Aerospace, a subsidiary of defense prime RTX, is excited to plug into government reference architectures, especially for capabilities inside the cockpit, but would still seek to retain certain proprietary rights, a top company executive told Inside Defense.

CMMC program final rule clears OMB regulatory review process as efforts move forward to official launch

A final rule to implement the Pentagon's Cybersecurity Maturity Certification program has cleared the interagency regulatory review process, setting up publication in the Federal Register within the 60 days needed during the current legislative term to meet the Congressional Review Act requirements.

Promotions and appointments

Boeing defense chief stepping down as unit logs billions in losses

Ted Colbert, the chief executive of Boeing's Defense, Space and Security unit, has left the company as the business struggles to bring its margins back to profitability.

HII names new treasurer

HII has announced that Steve Powell, the company's assistant treasurer for banking and capital markets, has been promoted to corporate vice president and treasurer, effective Jan. 1, 2025.

What's happening

The week ahead

Senior defense officials are scheduled to speak at several events this week.

For Inside Defense subscribers

GAO sees risks with DOD consultants possibly working for China

There's no regulation in effect specifically directing federal acquisition personnel to consider the possibility that consultants with U.S. contracts may have ties to China, which, according to the Government Accountability Office, poses a risk to national security.

VCJCS: U.S. military needs to contemplate the potential threat of weapons from space

NEW YORK -- The U.S. military needs to begin thinking about a future when the nation faces weapons from space -- a move that would require a policy shift by the U.S. government -- because it would be "folly" to think potential adversaries such as Russia and China are not exploring armed satellites, a senior Defense Department official said this week.

First Stern Landing Vessel heads to III MEF as Marine Corps moves toward LSM and interim 'bridging solution'

The Marine Corps' first Stern Landing Vessel, a converted civilian support ship leased from shipbuilder Hornbeck Offshore Services, is now on its way to Okinawa, Japan to exercise with the third Marine Expeditionary Force after a year of testing off the East and West coasts of the United States.