Category: Military (Page 15 of 22)

Boeing Reports Fourth-Quarter Results

January 27, 2021 / WIL BALDWIN

Fourth Quarter 2020

Financial results significantly impacted by COVID-19, 737 MAX grounding, and commercial widebody programs
777X program recorded $6.5 billion pre-tax charge; first delivery expected in late 2023
737 MAX began receiving regulatory approval to resume operations and restarted deliveries
Revenue of $15.3 billion, GAAP loss per share of ($14.65) and core (non-GAAP)* loss per share of ($15.25)

Full-Year 2020

Revenue of $58.2 billion, GAAP loss per share of ($20.88) and core (non-GAAP)* loss per share of ($23.25)
Operating cash flow of ($18.4) billion; cash and marketable securities of $25.6 billion
Total backlog of $363 billion, including more than 4,000 commercial airplanes
Strengthening safety processes, improving performance, managing liquidity and transforming for the future

Table 1. Summary Financial Results	Fourth Quarter		Full Year
(Dollars in Millions, except per share data)	2020	2019	Change	2020	2019	Change

Revenues	$15,304	$17,911	(15)%	$58,158	$76,559	(24)%

GAAP
Loss From Operations	($8,049)	($2,204)	NM	($12,767)	($1,975)	NM
Operating Margin	(52.6)%	(12.3)%	NM	(22.0)%	(2.6)%	NM
Net Loss	($8,439)	($1,010)	NM	($11,941)	($636)	NM
Loss Per Share	($14.65)	($1.79)	NM	($20.88)	($1.12)	NM
Operating Cash Flow	($4,009)	($2,220)	NM	($18,410)	($2,446)	NM
Non-GAAP*
Core Operating Loss	($8,377)	($2,526)	NM	($14,150)	($3,390)	NM
Core Operating Margin	(54.7)%	(14.1)%	NM	(24.3)%	(4.4)%	NM
Core Loss Per Share	($15.25)	($2.33)	NM	($23.25)	($3.47)	NM

*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 6, “Non-GAAP Measures Disclosures.”

The Boeing Company [NYSE: BA] reported fourth-quarter revenue of $15.3 billion, reflecting lower commercial deliveries and services volume primarily due to COVID-19 as well as 787 production issues, partially offset by a lower 737 MAX customer considerations charge in the quarter compared to the same period last year (Table 1). GAAP loss per share of ($14.65) and core loss per share (non-GAAP)* of ($15.25) reflected a $6.5 billion pre-tax charge on the 777X program and a tax valuation allowance, partially offset by a lower 737 MAX customer considerations charge. Boeing recorded operating cash flow of ($4.0) billion.

“2020 was a year of profound societal and global disruption which significantly constrained our industry. The deep impact of the pandemic on commercial air travel, coupled with the 737 MAX grounding, challenged our results. I am proud of the resilience and dedication our global team demonstrated in this environment as we strengthened our safety processes, adapted to our market and supported our customers, suppliers, communities and each other,” said Boeing President and Chief Executive Officer Dave Calhoun. “Our balanced portfolio of diverse defense, space and services programs continues to provide important stability as we lay the foundation for our recovery. While the impact of COVID-19 presents continued challenges for commercial aerospace into 2021, we remain confident in our future, squarely-focused on safety, quality and transparency as we rebuild trust and transform our business.”

The return to service of the 737 MAX in the U.S. and several other markets was an important step, and Boeing continues to follow the lead of global regulators and support its customers. Since the FAA’s approval to return to operations, Boeing has delivered over 40 737 MAX aircraft and five airlines have safely returned their fleets to service as of January 25, 2021, safely flying more than 2,700 revenue flights and approximately 5,500 flight hours.

Boeing now anticipates that the first 777X delivery will occur in late 2023. This schedule, and the associated financial impact, reflect a number of factors, including an updated assessment of global certification requirements, the company’s latest assessment of COVID-19 impacts on market demand, and discussions with its customers with respect to aircraft delivery timing.

Click the link below to read the full press release!

https://boeing.mediaroom.com/2021-01-27-Boeing-Reports-Fourth-Quarter-Results

Sikorsky-Boeing Reveals Advanced Assault Helicopter Design to Revolutionize U.S. Army Capability

January 25, 2021 / WIL BALDWIN

Sikorsky, a Lockheed Martin Company (NYSE: LMT), and Boeing (NYSE: BA) today released details of its advanced helicopter for the U.S. Army’s Future Long Range Assault Aircraft competition, known as FLRAA. The aircraft, named DEFIANT X, will be the fastest, most maneuverable and most survivable assault helicopter in history. Combined with the team’s unsurpassed experience in mission systems, training and sustainment, it will revolutionize the way the Army meets threats in 2035 and beyond.

DEFIANT X is a complete weapon system that builds on the handling qualities and transformational capabilities proven by the team’s technology demonstrator, SB>1 DEFIANT®. With unmatched range and survivability, DEFIANT X will to fly low and fast through complex terrain, land quickly, deliver soldiers and equipment to the objective area (referred to as “the X”) and get out.

DEFIANT X flies twice as far and fast as the venerable Black Hawk helicopter it is designed to replace. Currently undergoing testing in a digital combat environment, the aircraft continues to prove itself the most survivable platform for mission requirements.

“We are ready to deliver unparalleled capabilities backed by proven technologies that will truly transform the Army’s mission today – with room to grow and adapt to the missions of tomorrow,” said Andy Adams, Sikorsky vice president of Future Vertical Lift. “DEFIANT X not only includes the transformational aircraft, mission systems and revolutionary sustainment solution, but also leverages Sikorsky’s and Boeing’s advanced manufacturing capabilities.”

With its rigid coaxial rotor system and pusher propeller, DEFIANT X incorporates Sikorsky X2 Technology™ to operate at high speeds while maintaining low-speed handling qualities. This critical capability provides soldiers with increased maneuverability and survivability in high-threat air defense environments, allowing them to penetrate enemy defenses while reducing exposure to enemy fire.

“DEFIANT X is purpose-built for a modernized Army that requires expanded reach, survivability and lethality,” said Steve Parker, vice president and general manager of Boeing Vertical Lift. “This weapon system will give soldiers unequaled technological advantage and connectivity over adversaries in a multi-domain battle space.”

DEFIANT X will revolutionize the Army’s air assault capability with limited changes in tactics, techniques, procedures, training and infrastructure while maintaining the Black Hawk helicopter footprint and tight formation capability flown today.

The Army is expected to release a request for proposal on FLRAA later this year, with a contract award expected in 2022.

U.S. Air Force Awards Boeing Additional $2.1 Billion Contract for 15 More KC-46A Tankers

January 21, 2021 / WIL BALDWIN

The U.S. Air Force on Wednesday awarded Boeing [NYSE: BA] a $2.1 billion contract for 15 KC-46A tankers, expanding its fleet of aircraft that will not only set the standard for aerial refueling but will also help enable the integrated digital battlespace. Like a cellular tower in the sky, the KC-46 connects air forces to data needed to maintain the decision advantage and win on the 21st century battlefield.

“The KC-46’s adaptability is going to be a game-changer for the U.S. Air Force,” said Jamie Burgess, Boeing KC-46 tanker vice president and program manager. “We know our defense customers will need to transform how they fight and win in the modern era. That’s why Boeing is focused on making sure the KC-46 grows and changes with them.”

The KC-46 is a widebody, multirole tanker designed for state-of-the-art air refueling, cargo and medical transport. Boeing is now on contract for 94 KC-46A tankers.

“Our KC-46 fleet is growing, and we’re ready to extend the reach of next-generation air refueling to more of our Airmen,” said Col. Jason Lindsey, U.S. Air Force KC-46 System program manager.

Boeing delivered the first KC-46A to the U.S. Air Force in January 2019. Since then, the company has delivered 42 tankers to McConnell Air Force base in Kansas, Altus Air Force Base in Oklahoma, Pease Air National Guard base in New Jersey and Seymour Johnson Air Force base in North Carolina. The next-generation KC-46 is bringing new capabilities and operational flexibility to the U.S. Air Force and international customers.

Boeing is assembling KC-46A aircraft at its Everett, Washington, facility, where it also continues production of the KC-46 tanker for Japan.

Saab Receives Norwegian Order for Carl-Gustaf M4

January 15, 2021 / WIL BALDWIN

The Norwegian Armed Forces has signed a framework agreement with Saab for the Carl-Gustaf M4. Saab has received an initial order for Carl-Gustaf M4 weapons with deliveries in 2021.

The recently signed framework agreement allows the Norwegian customer to place orders for Carl-Gustaf M4, associated equipment and training systems during a 7-year period.

The Norwegian Armed Forces has been a user of the Carl-Gustaf M2 system since early 1970’s. Today the M2 and the M3 versions are used within the Norwegian Armed Forces.

“We welcome the latest user to the Carl-Gustaf M4. It’s a great success to continue to support the Norwegian Armed Forces, this time with our future ready Carl-Gustaf M4”, says Görgen Johansson, head of Saab’s business area Dynamics.

Carl-Gustaf M4 is the latest version of the portable, shoulder-launched, multi-role weapon system. It gives users a wide range of engagement options and allows troops to remain agile and effective in any scenario. It builds on the system’s formidable capabilities, offering a higher degree of accuracy, lighter construction and compatibility with future innovations. The M4 is also compatible with intelligent sighting systems and future technology developments, such as programmable ammunition. Since the launch in 2014, Saab has signed contracts with fourteen different nations for Carl-Gustaf M4.

Boeing Awarded Contract for 12 More KC-46 Tankers

January 14, 2021 / WIL BALDWIN

This week the U.S. Air Force awarded Boeing [NYSE: BA] a $1.7 billion contract for 12 KC-46A tanker aircraft. With this sixth production lot, Boeing is now on contract for 79 KC-46A tankers.

The company delivered the first KC-46A to the Air Force in January 2019. Since then, Boeing has delivered 42 tankers to four different bases. The next-generation KC-46 brings new capabilities and operational flexibility to the U.S. Air Force and international customers.

“The investments Boeing is making in the KC-46 today will benefit generations of service members,” said Jamie Burgess, Boeing KC-46 tanker vice president and program manager. “I believe the partnership between Boeing and the Air Force will also produce additional KC-46 innovations that will carry the warfighter well into the future.”

Boeing received its first two production lots from the U.S. Air Force, for seven and 12 aircraft, in August 2016. The third lot, for 15 aircraft, was awarded in January 2017; the fourth lot for 18 aircraft in September 2018 and the fifth lot for 15 aircraft in September 2019.

The KC-46A is a multirole tanker designed to refuel allied and coalition military aircraft compatible with international aerial refueling procedures. It’s also equipped to carry passengers, cargo and patients on any mission at any time.

Boeing is assembling KC-46A aircraft at its Everett, Wash. facility where it also continues production of the KC-46 tanker for Japan.

For more information on Defense, Space & Security, visit www.boeing.com

Saab Receives Follow-on Contract for GlobalEye

January 4, 2021 / WIL BALDWIN

Saab has today received a follow on contract with the United Arab Emirates regarding the sale of two GlobalEye systems, Saab’s advanced airborne surveillance system. The order value is USD 1.018 billion and the contract period is 2020-2025.

The original contract with the United Arab Emirates for GlobalEye was signed in 2015. This contract is an amendment to that signed in 2015.

“We are proud that the United Arab Emirates continues to show great trust in Saab and our solutions. It shows that Saab remains on the cutting edge regarding advanced technology. The GlobalEye program is running according to plan and we have an efficient cooperation with the customer”, says Micael Johansson, President and CEO Saab.

The work will be carried out in Gothenburg, Linköping, Arboga, Järfälla and Luleå in Sweden and in Centurion, South Africa.

The contract was signed by the customer on the 30^th of December 2020, hence the order was booked during the fourth quarter 2020.

GlobalEye provides simultaneous air, maritime and ground surveillance. It combines sophisticated radar technology with the ultra-long range Global 6000 aircraft from Bombardier.

A crowd that included Air Force leadership, congressional representatives and senators, executives and plant personnel from the Lockheed Martin Aeronautics Corporation attended a ceremony dedicating the delivery of the final F-22 Raptor in Marietta, Ga., May 2. (U.S. Air Force photo/Don Peek)

Lockheed Martin Inks $4.4B Deal to Acquire Aerojet Rocketdyne

December 20, 2020 / WIL BALDWIN

From Reuters News – Reporting by Mike Stone in Washington, D.C., Editing by Greg Roumeliotis

Dec 20 (Reuters) – Lockheed Martin Corp (NYSE: LMT) said on Sunday that it has agreed acquire U.S. rocket engine manufacturer Aerojet Rocketdyne Holdings Inc (NYSE: AJRD) for $4.4 billion, including debt and net cash.

The deal is Lockheed’s biggest acquisition since Jim Taiclet took over as chief executive in June. He is seeking to beef up the company’s propulsion capabilities amid competition from new entrants such as SpaceX and Blue Origin, for space contracts with the U.S. government.

“Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base and reduce costs for our customers and the American taxpayer,” Taiclet said in a statement.

Lockheed said it will pay $56 per share for Aerojet Rocketdyne, a 33 percent premium to Friday’s closing price. The purchase price will be reduced to $51 per share after the payment of a pre-closing special dividend, Lockheed added.

The Bethesda, Maryland-based company already uses Aerojet Rocketdyne’s propulsion systems in its aeronautics, missiles and fire control offerings.

Lockheed said the transaction, which is set to be scrutinized by regulators given the company’s leading position in the defense sector, is expected to close in the second half of 2021.

Embraer Delivers Fourth C-390 Millennium Airlifter to Brazilian Air Force

December 20, 2020 / WIL BALDWIN

Embraer delivered the fourth C-390 Millennium multi-mission medium airlifter of a total of 28 units to the Brazilian Air Force (FAB). Like the three units already in operation, the fourth airlifter will be operated by the First Troop Transport Group (1st GTT). All 28 aircraft ordered by FAB are equipped to perform aerial refueling missions, with the designation KC-390 Millennium.

“It is with great satisfaction that we are receiving another KC-390 Millennium aircraft, which is being incorporated into our fleet. Soon, it will be operational in the most diverse missions, in different regions of Brazil and even abroad, similar to our first three aircraft. This platform has already demonstrated great capacity, mainly in the transport of supplies and materials during Operation COVID-19,” said the Brazilian Air Force Commander, Lieutenant-Brigadier Antonio Carlos Moretti Bermudez.

“We are very pleased with the delivery of the fourth C-390 Millennium to the Brazilian Air Force, as the airlifter has played an extremely important role in a series of humanitarian missions within the Brazilian territory and even abroad,” said Jackson Schneider, President and CEO of Embraer Defense & Security. “The C-390 is establishing itself as the tactical transport aircraft of this century, opening new markets, which is immensely important for Embraer’s strategy in the coming years.”

Since the beginning of the COVID-19 outbreak, FAB has operated the KC-390 Millennium aircraft in logistical aerial transport missions, carrying tons of essential supplies to fight the pandemic in Brazil. Additionally, FAB operated one of the airlifters in a humanitarian mission to the Republic of Lebanon, in support of the population of Beirut, in August of this year.

On November 17, the Hungarian government signed a contract with Embraer for the acquisition of two C-390 Millennium multi-mission transport aircraft, in its air-to-air refueling (AAR) configuration, designated KC-390. The acquisition is part of the process to strengthen the capabilities of the Hungarian Defense Forces especially in the tactical airlift, AAR, and medical evacuation roles, as well as in other missions of public interest. Deliveries are scheduled to start in 2023.

The aircraft will be the first in the world featuring an Intensive Care Unit configuration, an essential feature for performing humanitarian missions. The aircraft are also designed to refuel the Hungarian JAS 39 Gripen, as well as other aircraft using the same technology. These KC-390 will be fully NATO compatible, not only in terms of hardware, but also in terms of avionics and communications configuration.

At the end of October, teams from the Portuguese Armed Forces (FAP) and Embraer concluded the “Critical Design Review – CDR” for the KC-390 Millennium ordered by Portugal. This step has defined the aircraft technical requirements according to FAP demands, enabling Embraer to configure the aircraft. The Portuguese Government and Embraer signed a contract for the acquisition of five multi-mission airlifters that will support the operations of the Portuguese Armed Forces and increase readiness in missions of national interest. Deliveries are scheduled to begin in 2023.

A joint project between FAB and Embraer, the C-390 Millennium is a tactical transport aircraft designed to set new standards in its category. Some of the aircraft’s strengths are mobility, robust design, greater flexibility, proven state-of-the-art technology, and easier maintenance.

The C-390 Millennium and the designation KC-390 Millennium fly faster and carry more cargo than other military freighters of the same size and are the ideal platforms for the main usage scenarios. The aircraft require fewer on-demand inspections and maintenance, combined with highly reliable systems and components, which reduces the time on the ground and overall operating costs, contributing to excellent availability levels and low life-cycle costs.

In October 2019, the aircraft received the Grand Laureate Award, in the category of Defense, and the Laureate Award, in the category “Best New Defense Product,” from Aviation Week magazine.

Boeing Awarded U.S. Navy Contract for New Zealand P-8 Training

December 15, 2020 / WIL BALDWIN

The U.S. Navy recently awarded Boeing [NYSA: BA] a Foreign Military Sales (FMS) contract, valued at $109 million, to provide P-8A Poseidon training for the Royal New Zealand Air Force (RNZAF). A suite of training systems and courseware will prepare RNZAF aircrew and maintainers to safely and effectively operate and maintain the world’s premier maritime patrol and reconnaissance aircraft for decades to come.

Boeing’s holistic P-8 training system will enable the RNZAF to conduct up to 70 percent of all Poseidon-related training in a simulated environment. As part of the contract, Boeing will provide:

Operational Flight Trainer (OFT) – Full-motion simulator incorporates all P-8 unique displays and switches.

Weapons Tactics Trainer– Simulates mission systems and tactical operations, and when coupled with the OFT, forms a Weapons Systems Trainer that enables multi-crew, high-fidelity mission rehearsal training in the same simulated environment.

Virtual Maintenance Trainer – Enables training of maintenance professionals to properly perform maintenance tasks and procedures on the P-8A aircraft.

Scenario Generation Station – Creates custom scenarios for mission training.

Brief/Debrief Station – Provides post-mission analysis and playback.

In addition, Boeing’s Electronic Classroom will give RNZAF instructors and students access to courseware and testing capabilities. Boeing also will provide initial Instructor Cadre Training to a group of RNZAF instructors, enabling them to continue training additional RNZAF P-8A instructors and aircrews following delivery of the training system in early 2024.

“This holistic training system will enable aircrew to safely train for all aspects of flying and maintaining the P-8A Poseidon,” said Tonya Noble, director of International Defense Training for Boeing. “We look forward to bringing these training capabilities in-country and working alongside the RNZAF to ensure readiness of aircrew and maintenance personnel.”

All training will be conducted in Ohakea, New Zealand. In March 2020, the RNZAF acquired four P-8A Poseidon aircraft through the U.S. Navy FMS process, with expected delivery beginning in 2023. New Zealand is one of seven nations operating the P-8.

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As a top U.S. exporter, the company supports commercial and government customers in more than 150 countries, leveraging the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

The Republic of Mali Orders an Additional Airbus C295

December 2, 2020 / WIL BALDWIN

The Ministry of Defence of the Republic of Mali has placed a firm order for an additional Airbus C295 airlifter in the transport configuration. This second aircraft, to be delivered in 2021, will supplement the first C295 already in operation since December 2016 which has already accumulated 1,770 flight hours and transported more than 38,000 passengers and 900 tonnes of cargo in less than four years of operations.

This new order also includes an integrated logistics support package with spare parts for the two aircraft and training for flight crews and mechanics.

This acquisition is in response to the urgent need of the authorities of the Republic of Mali to have permanent air transport capacity within a very short timeframe, providing a vital link supporting operations and actions for the development of isolated areas in the northern regions of the country. Bernhard Brenner, Head of Marketing and Sales at Airbus Defence and Space, said: “This repeat order demonstrates the excellent capabilities and performance of our aircraft. The C295 is becoming the 21^stcentury standard tactical airlifter in Africa with 37 aircraft ordered in the region, from Algeria, Egypt and Ghana to Ivory Coast, Burkina Faso and Mali.”

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