The French government today revealed that it will freeze its defense budget for the next six years as part of proposed cuts to hamper its ability to mount military operations such as its intervention in Mali. The freeze will still lead to the loss of 34,000 jobs in the defense ministry at a time of growing unemployment in France, according to a strategic review announced on Monday
Lockheed Martin successfully demonstrated the launch, guided flight, target acquisition and precision strike capability of its Nemesis missile in three flight tests. Nemesis is a man-portable, surface-launched missile that enables warfighters to engage targets with precision lethality from as close as 100 meters to well beyond line of sight
The Management of Selex ES, a Finmeccanica company, met on April 5 with National Trade Unions to illustrate the reorganisation plan of the Company. Among these is the rationalisation of the portfolio of products, cutting them down to 350 from the current 550, focusing investments on those technologies able to better meet market requirements
The U.S has offered Korea 60 F-35 Joint Strike Fighter Conventional Take Off and Landing (CTOL) aircraft at a subsidized cost of $10
General Dynamics Land Systems has been awarded an additional $40 million for the procurement and production of Saudi M1A2 (M1A2S) Abrams tanks for the Kingdom of Saudi Arabia. This modification is part of an existing contract to upgrade the Kingdom of Saudi Arabia's fleet of tanks
Textron Marine & Land Systems (TM&LS) announced today a $5.5 million contract award from the U
Embraer and Sierra Nevada Corp (SNC), have announced “in sourcing” of aerospace jobs to the U.S
Even bribery and money laundering dont seem to have escaped the woes of inflation and rising prices around the world. The bribery scandal involving AgustaWestland and India is a fine example of how kickbacks have been affected by global economic downturn
Former Indian Air Force Chief Air Chief Marshal S P Tyagi today strongly denied allegations that he was paid a multi-million dollar bribe to help AgustaWestland seal the VVIP helicopter deal. His statement comes a day after Finmeccanica CEO and Chief Executive Giuseppe Orsi was arrested in connection to the money laundering charges
Russian Helicopters, subsidiary of state defence holding Oboronprom, has signed its first export contract for the medium multirole Ka-62 with Brazilian Atlas Táxi Aéreo. Seven Ka-62s are scheduled for delivery within the period of first quarter 2015 to first quarter 2016