How defense contractors invest their money, in 4 charts
In the wake of Trump's executive order limiting Pentagon contractors' spending, take a look at eight companies' dividends, stock buybacks and more.
In the wake of Trump's executive order limiting Pentagon contractors' spending, take a look at eight companies' dividends, stock buybacks and more.
"Now it [the Columbia-class submarine] is delayed by at least a year, leaving no more margin for failure for the rest of the decades-long procurement and delivery schedule," said Rep. Ken Calvert, chair of the House Appropriations defense subcommittee.
The US should take the "next Virginia class that's built, designate that to the Australian AOR, and [say] we're going to dual-crew it with Australian sailors and US sailors," Rep. Rob Wittman tells Breaking Defense.
The selection of Remus 300 for the Lionfish program is a big win for HII, which has spent much of recent years positioning itself for the unmanned systems market.
Mike Petters, the current CEO of Huntington Ingalls Industries, will become executive vice chairman of the board.
A Pentagon spokeswoman says the department has stopped implementing the vaccine mandate for federal contractors.
Huntington Ingalls Industries, like others in the defense base, is making a play for the unmanned systems market. Its moves these past two years have been aggressive.
“Of all the budget items that I see out there, the unmanned budget item is probably going to have the largest percentage growth over the next five years, in my view,” HII Chief Financial Officer Tom Stiehle said today.
Huntington Ingalls, best known for building the Nimitz and Ford-class carriers, amphibious ships and nuclear submarines, is taking notes on the Navy's new plans to build unmanned ships.
The Wisconsin lawmaker, China hawk and member of the House Armed Services Committee, sees the frigate as a cornerstone for growing the Navy while not blowing open what is likely to be a constrained budget in the coming years.
The service's aircraft carrier boss says the COVID economic slowdown hasn't effected building new carriers -- yet.
The Navy is looking to get a new class of frigates in the water as soon as possible, but the budget wrangling between Congress and the White House might mean that gets put on hold.