US Allocates $250M Ukraine Security Assistance Fund against ‘Russian aggression’

June 12, 2020 @ 02:14 AM

The US Department of Defense will allocate $250 million in Fiscal Year 2020 Ukraine Security Assistance Initiative (USAI) funds for additional training, equipment, and advisory efforts to enable Ukraines capacity to more effectively defend itself against ‘Russian aggression. The USAI funds – $125 million of which was conditional on Ukraines progress...

France Speeds Up Aircraft Procurement to Revive Ailing Aerospace Industry

June 10, 2020 @ 12:38 PM

France will accelerate procurement of drones, helicopters and tanker planes as part of a larger potential recovery plan to help aerospace industry cope with the economic crisis caused by COVID-19 outbreak. The announcement was made by French defense minister Florence Parly on Tuesday

South Korea to Defer US Missile Purchase as Part of $225 Million...

June 3, 2020 @ 10:46 AM

South Korea has decided to defer the purchase of US-made ship-to-air missiles worth 70 billion Won (US$57.5 million) as part of a 300 billion Won ($244

China’s Defense Budget Doubles to $178.2B in a Decade

May 22, 2020 @ 08:34 AM

China has set aside 1.268 trillion yuan ($178

India to sign defense contracts valued below INR 200 Crore with local

May 21, 2020 @ 07:08 AM

The Indian Defense Ministry will sign contracts valued equal to or less than INR 200 crore ($23.4 million) with only local firms

India Announces Measures to Cut Defence Imports

May 18, 2020 @ 12:56 PM

India plans to strengthen its “Make in India” initiative by building its own military equipment and curbing imports, under its whopping $265.2 billion (INR 20 lakh crore) economic package

Cloud Signing Ceremony Kicks off AirShow China 2020

May 7, 2020 @ 07:08 PM

Chinas 13th China International Aviation and Aerospace Exhibition kicked off today with a ‘cloud signing ceremony where potential national and international exhibitors signed up for the event by video-conferencing. While most important aerospace events including the Farnborough International air show pulling the plug due to the COVID-19 pandemic this year, Airshow China has decided to go ahead and will be held from Nov

Raytheon Company Registers Order Backlog of $10.2B in Q1 2020, up 25%

May 7, 2020 @ 01:57 PM

Raytheon Company has reported a healthy order book with a book-to-bill ratio of 1.44 and backlogs at the end of first quarter 2020 valued at $51

Boeing to Raise $25 Billion in Bonds, Refuse US Government Aid

May 4, 2020 @ 10:08 AM

Boeing has it said it is pleased with the response to its bond offering which began May 1, and is expected to raise $25 billion by Monday, May 4. The bond offering includes debt instruments with an aggregate principal amount of $25 billion across seven tranches with maturities ranging from three to 40 years, a Boeing statement said

Airbus Defence and Space’s Revenue in Q1 2020 is 7X lower than...

April 29, 2020 @ 10:12 AM

Airbus Defence and Spaces EBIT Adjusted results for the First Quarter (Q1) for this year stands at €15 million, or nearly seven times lower than in Q1 2019 when it was €101 million, owing to the COVID-19 pandemic. “We saw a solid start to the year both commercially and industrially but we are quickly seeing the impact of the COVID-19 pandemic coming through in the numbers

Saudi Arabia’s Defence Expenditure Fell 16% in 2019 Despite Yemen War

April 27, 2020 @ 06:25 PM

Saudi Arabia spent $61.9Billion on military expenditure in 2019 compared to 67

Three-Month Delay in US Defense Acquisition due to COVID-19

April 21, 2020 @ 08:24 AM

Major Pentagon defense acquisition programs as a whole will face about a three-month slowdown due to COVID-19 pandemic. “Of 10,509 major prime contractors, 106 are currently closed and 68 have closed and already reopened