Leading up to the Farnborough Airshow, the Aerospace Industries Association has released data showing the positive impact aerospace and defense has on US trade, including a positive balance of $86 billion. "Robust US government and industry presence are a signal that the US is serious about strengthening our international relationships and increasing aerospace and defense exports," said Remy Nathan, AIA vice president of international affairs.
NATO countries have renewed their commitment to spending 2% of economic output on defense by 2024, a step that promises to benefit US defense manufacturers. The US is the No. 1 military exporter worldwide, accounting for 34% of global arms trade.
Northrop Grumman CEO Wes Bush will hand the reins to Chief Operating Officer Kathy Warden on Jan. 1. "She has demonstrated exceptional leadership in her roles leading the operations of our company, and she brings the vision and values to lead Northrop Grumman into the future," Bush says.
Collins Aerospace, the company that will be formed by UTC Aerospace Systems' acquisition of Rockwell Collins, will focus on digital technology. Rockwell CEO Kelly Ortberg will helm Collins Aerospace.
L3 Technologies has purchased Linchpin Labs and Azimuth Security to form L3 Trenchant, which will focus on cyberdefense.
Analysts say Boeing may announce major orders from Emirates and Saudi Arabian Airlines at the Farnborough Airshow.
Blue Origin plans to test passenger flights aboard the New Shepard spacecraft next year, with reported ticket prices between $200,000 and $300,000.
Sen. Mike Lee, R-Utah, is pushing legislation that would require the Defense Department to brief Congress on defense spending by allies. "NATO and other mutual defense agreements have a purpose, but until we no longer bear the greatest brunt of the financial burden, we cannot and should not consider expanding these commitments," Lee said, announcing the Allied Burden Sharing Report Act of 2018.
A report by the Aerospace Industries Association highlights the sector's positive trade balance and major role in the US economy. AIA President and CEO Eric Fanning says the aerospace and defense industry is essential to America's national and economic security, and having access to global markets and supply chains through trade allows US manufacturers to stay competitive.
- Page 1