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Lockheed Martin gets $22.5M contract for Aegis upgrades

Lockheed Martin gets $22.5M contract for Aegis upgrades

Business
July 19 (UPI) -- Lockheed Martin was awarded a $ 22.5 million modification to a prior contract Thursday for integration and delivery of the Aegis Baseline 9 weapons system. The contract calls for the modernization of existing U.S. Navy systems using open architecture principles and software upgrades to increase the lethality of the surface navy. The Aegis Combat System is an advanced command and control and weapon control system using powerful computers and radars to track and guide weapons to destroy enemy targets. Through the improvements, newer and more powerful missiles can be fired from ships, and the use of the latest Aegis weapons systems capabilities can be used against air and missile threats. The contract with Lockheed Martin's Rotary and Missions Systems division calls for the...
HS2: Costs review ‘ongoing’ amid reported £30bn overrun

HS2: Costs review ‘ongoing’ amid reported £30bn overrun

Business
The government has insisted that a review of the cost of a new high-speed railway linking London, Birmingham, Manchester and Leeds is continuing.The assurances come despite the project reportedly needing an extra £30bn.HS2 chairman Allan Cook has written to the Department for Transport to warn that the project will exceed the official £56bn budget, the Financial Times reported.The newspaper cited an internal review for the figure. "The chairman of HS2 Ltd is conducting detailed work into of the costs and schedule of the project to ensure it delivers benefits to passengers, the economy and represents value for money for the taxpayer," the Department for Transport said in a statement."This work is ongoing. We expect Allan Cook to provide his final assessmen
Boeing takes $5bn compensation hit over 737 MAX crashes

Boeing takes $5bn compensation hit over 737 MAX crashes

Business
Boeing is taking a $ 4.9bn (£3.9bn) charge to compensate airlines following the prolonged grounding of the 737 MAX fleet after two crashes.The crisis-hit firm said lost sales, reduced production and the compensation payments it was expecting to hand over to date would cost it $ 6.6bn (£5.3bn). The sum does not include any provision for lawsuits expected to be filed by the families of those killed. Boeing boss refuses to quit after two deadly pl
Boeing takes $5bn hit over grounding of 737 Max

Boeing takes $5bn hit over grounding of 737 Max

Business
Boeing is taking a $ 4.9bn hit to cover the costs of the grounding of its 737 Max aircraft after two deadly crashes.The charge is set to wipe out profits when the world's biggest planemaker posts quarterly results next week.In a statement, Boeing also said its "best estimate at this time" is that 737 Max will return to service in the last three months of this year.A crash in Indonesia in October, followed by another in Ethiopia in March, killed 346 people in total.Boeing is facing one of the worst crises in its history after its best-selling aircraft was grounded worldwide after the disasters.Crash investigators have concentrated their efforts on the aircraft's control system and Boeing has been working with regulators to roll out a software upgrade. The ...
Navy seeks proposals for unmanned surface vessel

Navy seeks proposals for unmanned surface vessel

Business
July 17 (UPI) -- A U.S. Navy request for proposals calls for a new class of unmanned surface vessels. While the Navy floated performance specifications in February for a fleet of "medium unmanned surface vehicles," the request was officially announced Tuesday. It seeks developers for a craft of up to 164 feet long, to function as a sensor and communications relay in part of a family of unmanned surface systems under development. The craft would be able to carry a payload equivalent to a 40-foot shipping container, operate on its own for at least 60 days before requiring a return to port, and be capable of refueling at sea. The Navy plans to award a contract for a single MUSV prototype in the first quarter of fiscal year 2020, a statement from the U.S. Naval Sea Systems Command said. It a...