Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
New draft guidance released by the Defense Department last week lays out how contracting officers can use cybersecurity standards in a procurement action, meaning companies who aren't complying with the security controls could soon be deemed too risky for DOD work.
Raytheon reported quarterly net sales of $6.3 billion, up 4.5 percent compared to $6 billion in the same quarter the previous year.
Three of the top five defense contractors each reported higher revenues in the first quarter of 2018, and were bullish over their prospects for the rest of the year.
Despite the absence of international Mine Resistant Ambush Protected-All Terrain Vehicle sales the previous quarter, Oshkosh's chief executive still has a positive outlook regarding international demand for the company's vehicles.
The Pentagon has awarded Lockheed Martin a roughly $1.4 billion cost-plus-incentive-fee contract for F-35 Joint Strike Fighter logistics services.
Defense Secretary Jim Mattis has told Congress that Lockheed Martin, the prime contractor for the F-35 Joint Strike Fighter program, is failing to live up to the Pentagon's expectations.
The 8 percent increase in Lockheed Martin's missile sales during the first quarter of 2018 compared to the same quarter the previous year is "not an aberration," according to a senior company executive.
Government services contractor KBR said this week it has completed the acquisition of Stinger Ghaffarian Technologies.
The Pentagon's acquisition and sustainment chief says the U.S. government is going to step up its advocacy of defense exports under a new conventional arms transfer policy, but she believes companies can do more by designing their systems with "exportability" up front.
The Defense Leadership Forum will hold its annual "Navy Contracting Summit" in Norfolk, VA next month.
The Aerospace Industries Association says Congress should repeal statutory budget caps and the Pentagon should embrace a streamlined acquisition system if they are to maintain a healthy defense industrial base.
With detail design work for Flight III of the Arleigh Burke-class destroyers recently completed, General Dynamics' Bath Iron Works keeps learning from every ship it builds, according to GD's chief executive.
Science Applications International Corp. recently announced John Walsh has been recruited to be the company's new Information Technology Solutions Market Segment senior vice president and general manager.
United Launch Alliance has named aerospace industry executive John Elbon as its next chief operating officer.
The Aerospace Industries Association has hired Edelman executive Caitlin Hayden as its vice president of communications.
The week ahead features appearances from senior Pentagon officials at several think tank and military association events around Washington.
Peter Navarro, director of the White House Office of Trade and Manufacturing Policy, said on Tuesday that the administration’s new conventional arms policy is a way for the U.S. To boost exports to markets dominated by countries like China and Russia.
The official charged with setting defense acquisition policies is pushing Congress to streamline requirements that result in lengthy haggling over cost and pricing data so the Defense Department can drastically reduce the time it takes to buy equipment.
Congress has provided the services greater flexibility in contracting, but it is incumbent upon the Army to utilize that flexibility responsibly, according to the assistant secretary of the Army for acquisition, logistics and technology.
Textron Marine Systems began on-water testing for the ship-to-shore connector earlier this month and is preparing for builder's trials at the end of this month, according to a company official.