Defense Business Briefing -- June 25, 2024

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

This week’s top story

SECNAV endorses South Korean shipbuilder Hanwha's $100 million bid to buy Philly Shipyard

A $100 million offer from South Korean shipbuilder Hanwha Systems and Hanwha Oceans to buy the Philadelphia-based Philly Shipyard has the support of Navy Secretary Carlos Del Toro, who has previously encouraged foreign investment in the U.S. industrial base.

News & notes

Wittman: Fixed-price deals are the 'way to go' on software

As the Air Force shifts its primary acquisition model to favor software above platforms, House Armed Services tactical air and land forces subcommittee Chairman Rob Wittman (R-VA) said firm, fixed-price contracts are the best fit.

RTX cut from MEO missile warning/missile tracking program

As Space Systems Command attempts to quickly field its missile warning/missile tracking satellites, it has canceled a contract with RTX for failing to meet cost and timeline schedules.

Kaine: Increasing shipbuilding workforce will require immigration reform

Expanding the defense industrial base workforce to produce the Virginia-class submarines needed to satisfy the AUKUS security pact will require immigration reform, according to Sen. Tim Kaine (D-VA).

Navy starts market research for submarine-launched UAVs

The Navy is seeking sources for the manufacture of the Submarine Launch Unmanned Aerial System All-Up-Round, a system that consists of an unmanned aerial vehicle and launch canister -- important technology amid widespread Navy efforts to invest in unmanned systems.

What's happening

The week ahead

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

For Inside Defense subscribers

Army working with NAVAIR engineers on FLRAA design

As the Army works to reduce risk in its design of the Future Long Range Assault Aircraft, the service has included Naval Air Systems Command engineers that previously worked on the V-22 Osprey in the process, with the goal of incorporating lessons learned from the Osprey into FLRAA.

White House threatens to veto House defense spending bill

President Biden would veto the GOP-led House's version of the fiscal year 2025 defense appropriations bill if it were to pass in its current form, according to a new statement of administration policy from the White House Office of Management and Budget.