Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
Raytheon announces realignment of business units
Raytheon Technologies announced in an earnings call that it is reorganizing its business units -- promising to relieve "friction" in the company.
Lockheed Martin touts strong finish to 2022 in earnings call
Lockheed Martin executives touted a strong fourth quarter during a year-end earnings call, claiming each of the company's business areas met or exceeded expectations set for 2022.
Northrop Grumman shares B-21 roadmap during year-end earnings call
Northrop Grumman remains on track for a flight test of the Air Force's B-21 Raider later this year and is anticipating a low-rate initial production purchase of five of the bombers, executives said during the company's year-end earnings call.
Boeing starts to stanch bleeding in defense sector; records fresh losses in Q4
A rebound in commercial jet deliveries boosted Boeing’s revenue for the fourth quarter of 2022 but lingering supply chain woes and a struggling defense business unit led the company to record a net loss of $663 million.
GD reports strong growth but continued challenges in submarine production
General Dynamics executives recorded a "good year in a difficult environment," with record growth in the company's Marine Systems sector, but said labor and supply chain problems remain a significant challenge for submarine production.
L3Harris CEO says hypersonics could be 'crown jewel' of Aerojet Rocketdyne acquisition
L3Harris Technologies' proposed acquisition of Aerojet Rocketdyne is a way to branch into the missiles market, L3Harris CEO Chris Kubasik said, adding that hypersonic missile technology could be the "crown jewel" of the acquisition.
Textron executives confident in profitability of FLRAA despite looming protest
In spite of a recent bid protest, Textron executives said during a fourth-quarter earnings call that they believe the Future Long-Range Assault Aircraft contract award will be a “terrific boon for the business” over the next few years.
Defense Innovation Board, Defense Business Board to meet
The Pentagon's Defense Innovation Board and Defense Business Board will convene for their first meetings of 2023.
Air Force, Boeing definitize F-15EX lot 1 contract
The Air Force and Boeing have definitized the F-15EX lot 1 contract, setting the flyaway price of six remaining fighters in the lot at $80.5 million each, Inside Defense has learned.
Calvelli calls for stepped-up use of contractor watch list
CHANTILLY, VA -- In a warning to industry, Space Force acquisition chief Frank Calvelli said he would resurrect a years-old contractor watch list to drive discipline in acquisitions and name companies that are performing poorly.
CMMC accreditation body publishes stakeholder input from initial assessment process guide
The accreditation body behind the Pentagon's cyber certification program has published a detailed spreadsheet outlining comments from stakeholders on the group's first assessment process guide.
Foggo appointed as RMC's new board chair
Mission assurance and cybersecurity company RMC has appointed retired Navy Adm. James Foggo as the new chairman of the company's board of directors.
Northrop hires O'Bryan to be global business development officer
Northrop Grumman has hired Stephen O'Bryan to be corporate vice president and global business development officer, the company announced.
HII hires Chewning as executive VP for strategy and development
HII has hired Eric Chewning to be executive vice president for strategy and development, the company announced.
The week ahead
Industry organizations around the Washington area are scheduled to host several national security discussions this week, while the Defense Innovation and Business boards are set to meet as well.
Lockheed completes second HAWC flight; too late to influence AF cruise missile competition
Lockheed Martin and Aerojet Rocketdyne -- along with two government partners -- executed a second flight test of the Hypersonic Air-Breathing Weapon Concept, demonstrating technology with potential application for a next-generation, ultra-fast cruise missile and a key objective for the advanced component development effort.
Army eyes new interceptor to counter supersonic cruise missiles, large-caliber rockets
The Army is looking to add a second interceptor to its still-in-development, next-generation cruise missile defense system, seeking a guided-missile to counter supersonic air-breathing threats as well as large-caliber rockets and setting the stage for a likely new round of competition for the Indirect Fire Protection Capability Increment 2 program.