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U.S. Grants $9M-Worth Military Equipment to Greece

February 26, 2021 @ 10:57 AM

The U.S

AeroVironment Acquires Artificial Intelligence Specialist, Intelligent Systems Group for $30M

February 26, 2021 @ 08:17 AM

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...

Israel Companies No-Show at IDEX 21

February 22, 2021 @ 09:07 AM

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 Arabia, South Korea to Jointly Produce Biho II Air Defense Systems

February 22, 2021 @ 08:33 AM

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 Seek $3.6 Billion Compensation from Ukrainian Moto Sich

February 19, 2021 @ 07:45 AM

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 Proposes Defense Innovation Initiative to Promote Interoperability

February 16, 2021 @ 07:17 AM

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

S.Korea to Invest $3.9B on Defense R&D Projects in 2021

February 15, 2021 @ 07:07 AM

South Koreas Defense Acquisition Program Administration (DAPA) said $3.9 billion (4

Qatar to Open Military Representation Office in NATO HQ

February 15, 2021 @ 03:59 AM

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

New U.S. Facility to Produce 25% of World Rare Earth Oxides, Cut...

February 2, 2021 @ 03:42 AM

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

IFS, Tech Mahindra to Enable $54 Million Software Project for HAL

January 23, 2021 @ 03:23 AM

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

Turkey Targets $10 Billion in Defense Exports by 2023

January 22, 2021 @ 12:33 PM

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

Bharat Electronics Exports $48.6M during FY 2019-20

January 21, 2021 @ 08:11 AM

Indias Bharat Electronics Limited (BEL) has exported nearly $48.6 million (INR 354

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