Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
Senate Armed Services Committee Chairman Jack Reed (D-RI) said a new executive order from President Biden to review the U.S. defense industrial base is the start of a "major effort" to secure national supply chains, despite challenges posed by China's key role in the global marketplace.
L3Harris Technologies said it has agreed to sell its military training business to CAE for just under $1.05 billion and its combat propulsion systems and related businesses to German company RENK AG for $400 million.
Leonardo said its U.S. subsidiary DRS has filed a registration statement with the Securities and Exchange Commission for an initial public offering of a minority stake of its common shares.
TransDigm Group said it has agreed to sell its ScioTeq and TREALITY Simulation Visual Systems businesses to private-equity firm OpenGate Capital in a deal worth about $200 million.
Nearly a dozen associations are calling on congressional leaders to extend Section 3610, a provision in COVID-19 relief legislation that allowed reimbursement for contractors who keep their employees in a "ready state."
The chief executive of Kratos Defense & Security Solutions said the company is weighing large potential acquisitions.
Maxar Technologies' chief executive said the company has made changes in its space infrastructure business as it pursues "a firm foundation for growth."
AeroVironment said it has acquired the intelligent systems group of Progeny Systems, which develops artificial intelligence-enabled computer vision, machine learning and perceptive autonomy technologies.
The head of Leidos' defense group said Gibbs & Cox, which Leidos has agreed to acquire, will operate as a wholly owned subsidiary.
Austal USA President Craig Perciavalle has resigned following an investigation into the company's Littoral Combat Ship program, Austal announced.
Deloitte said it has named John Coykendall principal at Deloitte Consulting and the leader of its global aerospace and defense sector.
BAE Systems said it has appointed Lisa Hand vice president and general manager of the company's integrated defense solutions business.
ManTech International said it has named Joseph Cubba chief growth officer.
Altamira Technologies said it has named Jane Chappell chief executive officer.
Science Applications International Corp. said it has named Michael Scruggs senior vice president of artificial intelligence, effective immediately.
Senior government officials and defense company executives are scheduled to discuss an array of issues this week, while lawmakers hold a hearing to consider a key Pentagon nominee.
DOD security agency uncovers 'clearance issues' with some Capitol rioters, including contractor employees
The Defense Counterintelligence and Security Agency's new "continuous vetting" system has flagged "clearance issues" among multiple Capitol rioters, including some working in the defense industrial base, according to the head of the agency.
The Defense Department needs about $11 billion in supplemental funding from Congress to support defense contractors with pandemic-related costs or else modernization programs and military readiness accounts will be raided, according to two senior Pentagon officials.
The COVID pandemic has revealed the U.S. defense industrial base to be "not healthy" and hampered by "weak" supply chains that threaten the ability of the nation to nimbly develop and field new capabilities to keep ahead of technological advances by other nations, according to the Pentagon's No. 2 military official.