AeroVironment said it acquired Progeny Systems Corporations Intelligent Systems Group (ISG) for $30 million earlier this week. Under the terms of the transaction, AeroVironment acquired ISG for $30 million in cash and an earnout for Progeny Systems Corporation of up to $6 million over three years, based on the achievement of...
Barred from flying to Abu Dhabi due to Tel Aviv airport closure, Israeli companies marked its presence at the Arab worlds biggest arms fair, IDEX 2021, by a token and virtual presence. Close to 40 Israeli companies were to attend the exhibition, marking the countrys first participation in any U
Saudi Arabias Science Technology has partnered with South Koreas Hanwha Defense to jointly produce new K30 Biho (Flying Tiger) II air defense systems (ADS). According to the company, a hybrid Biho ADS completed foreign trials in Saudi Arabia
Chinese investors of Ukraines Motor Sich have increased the amount of arbitration lawsuit against Ukraine by $100 million, taking the total figure to $3.6 billion
NATO Secretary General, Jens Stoltenberg has proposed a Defense Innovation Initiative to promote interoperability and boost transatlantic cooperation on defense innovation. "There is a real danger that more advanced nations could develop capabilities that won't communicate with capabilities of lesser advanced NATO nations," he spoke during a virtual press conference in advance of the virtual Defense Ministerial starting Wednesday
South Koreas Defense Acquisition Program Administration (DAPA) said $3.9 billion (4
Qatar has signed an agreement with the North Atlantic Treaty Organization (NATO) to establish a military representation office at NATO headquarters in Brussels, Belgium. This is part of Individual Partnership and Cooperation Programme (IPCP), a standard document, developed usually every two years by a partner in close consultation with NATO staffs
Lynas Rare Earths Ltd, the largest rare earth element mining and processing company outside of China, has been awarded a Defense Production Act (DPA) Title III technology investment agreement to establish domestic processing capabilities for light rare earth elements (LREE). Specific actions include stockpiling, implementing Defense Federal Acquisition Regulations Supplement (DFARS) rules to transition defense supply chains to non-Chinese sources of rare earth element magnets
Enterprise software company, IFS has signed a contract with Tech Mahindra, the prime contractor for Hindustan Aeronautics Limited (HAL), to enable HALs Project Parivartan Program, a US$ 54 million (Rs 400 crore) software project. The ERP solution from IFS will support business-critical processes, including maintenance, repair, overhaul (MRO), manufacturing, supply chain management, human capital management (HCM), and finance
By 2023 Turkeys defense industry targets $27 billion in turnover, $10 billion in exports and employment for approximately 80,000 people, according to Ismail Demir, the chairperson of the Presidency of the Defense Industries (SSB). In comparison, current Turkish defense exports total $3 billion and turnover is $12 billion
Indias Bharat Electronics Limited (BEL) has exported nearly $48.6 million (INR 354