Latest news with #Lockheed
Mint
11 hours ago
- Business
- Mint
Europe's Arms Revival Pits Homegrown Wares Against US Stalwarts
Europe's arms manufacturers are duking it out with American rivals to win their slice of the region's fast-growing military pie, as governments embark on an unprecedented expansion of defense spending. The jockeying between European and US firms was in the spotlight at the Paris Air Show this week, where talk of fighter jets, drones and missiles led the conversation, instead of the commercial aircraft orders that typically dominate the expo. Defense and security took up about 45% of the footprint on the show's floor — a 'strong increase' from two years ago, its organizers told Defense News. Behind the shift is a growing realization in Europe that the region needs to become more self-reliant for its security, as threats escalate and the US signals a retreat under President Donald Trump. War has raged in Ukraine for more than three years, exposing the menace posed by Vladimir Putin's Russia, and Israel attacked Iran just days before the meeting began, putting countries in the Middle East more on edge. After 80 years of peace, European nations haven't developed the 'culture of defense' seen in the US, Russia and Israel, said Roberto Cingolani, chief executive officer of Italian state-backed defense contractor Leonardo SpA. 'We were not as well prepared because we almost forgot that war could happen,' Cingolani said. 'We were more used to peacekeeping missions where you don't develop a real defense system, you develop an assistance system. And our army now is making a lot of effort for the so-called capacity boost.' With Trump demanding that allies dedicate a greater share of their resources to defense, European NATO spending is expected to double by the end of the decade to as high as €800 billion in 2030, according to McKinsey. NATO leaders meet next week at the Hague to discuss raising current spending targets. 'The surge in European defense funding is significant,' Hugues Lavandier, leader of McKinsey's aerospace and defense practice in Europe, said in an interview. France's Dassault Aviation wasn't subtle about seizing the opportunity, touting its Rafale warplane as 'the choice of sovereignty' and conducting a demonstration above the makeshift chalets at Le Bourget airfield. Lockheed Martin Corp. put its F-35 through the paces as well. At least half of Europe's 13 current customers for the fighter jet are talking publicly about buying more, said Frank St. John, Lockheed's chief operating officer, with other countries seeking US approval for purchases. By decade's end, Lockheed expects to have around 700 of its fighters on the continent, he said in an interview. 'We're headed into a period over the next three to five years of increasing budgets,' St. John said, including in the US, Japan and Australia. According to the Financial Times, the US firm is also seeking a piece of the UK's Iron Dome-type missile defense project. Boeing Co. had a muted commercial presence at the show because of the Air India crash involving one of its 787 Dreamliners last week. The US company sees an opportunity to expand in European defense with autonomous aircraft like its MQ-28 Ghost Bat drone, designed to fly on reconnaissance and tactical missions in tandem with crewed aircraft, Bernd Peters, vice president of business development and strategy, told reporters. American defense contractors are increasingly willing to forge deals with European counterparts to better make the case for their wares. Honeywell International Inc. said it plans to acquire more companies in the region and expand in the UK, Germany and Czech Republic. Lockheed is raising its investment with Rheinmetall AG to jointly develop missiles and rockets. The German supplier inked a separate drone-technology partnership with US startup Anduril Industries Inc. — underscoring the boom in demand for future weaponry. Germany, Europe's biggest economy, is emblematic of the changes afoot. Its armed forces are shrinking as soldiers age, hampering the biggest push to re-arm since World War II. The government has lifted caps on defense spending, clearing the way for hundreds of billions of euros in expenditures. Given the recent strains on the US relationship, many in Europe want to see the money allocated at home rather than with American companies that have long supplied NATO. 'The time has come to buy European products,' Michael Schoellhorn, who heads Airbus SE's Munich-based defense unit, said in an interview. 'That way we not only gain higher tax revenues but also the technology. If you just buy, the money is gone.' But Europe needs weapons now, and its companies are struggling to gear up the factories and supply chains that would fulfill the demand. To that end, France and Spain renewed their commitment to the troubled A400M military transport aircraft. Airbus, Thales and Leonardo are working to unify their satellite and space operations, and Leonardo, working with Rheinmetall, is trying to vacuum up the military vehicle business of Italy's Iveco Group NV. Yet it's not certain whether these deals will ultimately go through, and a public quarrel between Airbus and Dassault Aviation, its French partner on Europe's FCAS Future Combat Air System, served as a reminder of the challenges going forward: Europe's defense industry is currently seen as too fragmented and driven by nationalistic priorities to truly compete with American, Russian or Chinese rivals. For the current Eurofighter warplane, Airbus is aligned with Leonardo and the UK's BAE Systems, competing against the F-35 and Dassault Aviation's Rafale. On the next-generation FCAS, the German and French governments have teamed Airbus with Dassault. It's not easy to go from being a rival on a high stakes weapons program to becoming its partner on the next one, said Jean-Brice Dumont, head of air power at Airbus. 'We have to make the 'Europe of defense' — it has to happen,' he said. But 'you are having two competitors poised to marry, and that creates a natural ambiguity, a natural paradox.' With assistance from Anthony Palazzo. This article was generated from an automated news agency feed without modifications to text.
Geek Culture
2 days ago
- Entertainment
- Geek Culture
'Top Gun 3' Script Takes Flight As Director Teases "Ambitious" Story
Top Gun 3 has gotten an exciting update from director Joseph Kosinski, who explained that the sequel's script is coming together nicely, teasing an ambitious idea for its plot that 'opens up' the Top Gun storyline. During an interview with ScreenRant for the upcoming Brad Pitt-led F1 movie, Kosinski revealed that Top Gun 3 is still in the script stage with returning screenwriter Ehren Kruger ( Transformers: Revenge of the Fallen , Ghost in the Shell ). 'Ehren Kruger is writing the script as we speak. It's a big idea that I spent almost a year developing, working with some friends at the Navy and Lockheed. And yeah, Ehren's into it now, so we'll see how it comes along.' Kosinski explained. 'It was about coming up with an idea that, again, felt like a new challenge. Something that opens up the story in a way you just can't let go. And I think the idea is so ambitious. That's what's exciting to me.' he added, addressing why he has returned to the franchise after 2022's Top Gun: Maverick . This news comes hot on the heels of filmmaker Christopher McQuarrie's comments on the upcoming sequel, who revealed last month that Top Gun 3's plot was 'already in the bag' and that 'it wasn't hard' to come up with a meaningful follow-up. While specific details of the sequel haven't been confirmed, actor Tom Cruise is expected to return as Pete 'Maverick' Mitchell, with the star teasing his involvement in the film back in May. With its script still in the works, fans might still have a long wait ahead of them before they can witness the next chapter in the dog-fighting action epic, with details on the start of filming sure to come in the near future. Kevin is a reformed PC Master Race gamer with a penchant for franchise 'duds' like Darksiders III and Dead Space 3 . He has made it his life-long mission to play every single major game release – lest his wallet dies trying. Joseph Kosinski Top Gun top gun 3
Geek Tyrant
2 days ago
- Entertainment
- Geek Tyrant
TOP GUN 3 Director Joseph Kosinski Teases "Ambitious" Idea With Help From the Navy and Lockheed — GeekTyrant
After Top Gun: Maverick rocketed past the billion-dollar mark and reignited the legacy of Pete "Maverick" Mitchell, the big question became: What's next? The answer is starting to come into focus, and it sounds like something that could push the franchise into uncharted airspace. In a recent interview with ScreenRant, Top Gun: Maverick director Joseph Kosinski confirmed that Top Gun 3 is in active development, and it won't be more of the same. He shared: 'Ehren Kruger is writing the script as we speak. It's a big idea that I spent almost a year developing — working with some friends at the Navy and Lockheed. And yeah, Ehren's into it now, so we'll see how it comes along.' I love that whatever he's cooking for this third film required months of collaboration with actual Navy personnel and Lockheed engineers. It's all because the idea was just too big to ignore. He added: 'It was about coming up with an idea that — again — felt like a new challenge. Something that opens up the story in a way you just can't let go. And I think the idea is so ambitious. That's what's exciting to me.' Kosinski isn't the only returning name in the cockpit. Christopher McQuarrie, who co-wrote Maverick and has been busy steering the Mission: Impossible franchise, is also onboard, and according to him, the story came together faster than expected. 'It wasn't hard. I thought it would be, and that's a good place to go from is you walk into the room going, 'Come on, what are we going to do?' and Ehren Kruger pitched something and I went, 'Mhm actually,' and we had one conversation about it and the framework is there.' That "framework" will build on the emotional and thematic core of Top Gun: Maverick , a film that found new depth in Maverick's role as a mentor, his unresolved history with Goose's son, and his brush with obsolescence in a rapidly modernizing military. While details on Top Gun 3 remain tightly under wraps, the involvement of Lockheed and the Navy suggests that whatever Kosinski and team have planned, it's going to lean heavily into the bleeding edge of aerial warfare, and probably ask some tough questions about the future of fighter pilots in an age of unmanned drones and AI systems. Until then, Top Gun fans can take comfort in knowing that the next mission is in the works and that it's being crafted with the same care, technical precision, and story-driven focus that made Maverick a modern action classic.
Yahoo
4 days ago
- Business
- Yahoo
Why Lockheed Martin Fell on a Good Day for the Markets
Iran indicated to mediators it's looking to end hostilities with Israel this morning. Investors took this as a sign the conflict, which started last Friday, won't escalate too much. Defense, oil, and gold stocks gave up some of last week's gains. 10 stocks we like better than Lockheed Martin › Shares of U.S. defense contractor Lockheed Martin (NYSE: LMT) fell 4% on Monday, even as the S&P 500 (SNPINDEX: ^GSPC) was up a strong 0.94% on the day. Lockheed had rallied on Friday when war between Israel and Iran broke out. So, some might be surprised the stock gave back those gains today, given the exchange of bombs and hypersonic missiles over the weekend between the two nations. However, it appears investors believe the war will be contained or over very quickly, thus leading to a "relief" rally in most stocks but a give-back in defense contractors today. Most stocks fell late last week when news of the Israel-Iran war broke out, with defense contractors, oil stocks, and gold stocks rallying over fears of global instability and supply shocks. Israel is a big buyer of U.S. defense contractor equipment, especially Lockheed's F-35 fighter jet and others, and Iran is a major oil and gas producer. Heading into the weekend, some feared Iran would close the Strait of Hormuz, which sits between Iran and Oman and the United Arab Emirates, through which about 20% of the world's oil passes. However, by Monday morning, The Wall Street Journal reported that Iran was "urgently" seeking to end the hostilities and return to the negotiating table over its nuclear program. Last week, the UN's nuclear watchdog, the International Atomic Energy Agency (IAEA), sanctioned Iran for the first time in 20 years, declaring that Iran wasn't complying with its obligations regarding its nuclear program. That in turn led Israel to strike Iran's nuclear sites, as well as high-ranking members of Iran's Revolutionary Guard over the weekend. And it appears the strikes were very successful in degrading Iran's capabilities, given that Iran is now seeking a ceasefire. Defense contractors and oil and gold stocks can often function as portfolio insurance policies against wars and supply shocks, which can lead to potential worst-case scenarios for the global economy. While these stocks are down today, investors should keep in mind that the conflict isn't resolved, and could re-escalate. Besides, one would almost hope these stocks underperform, as no one ever "hopes" to have to use an insurance policy, because it means something bad has happened. However, unlike buying insurance, most of these types of stocks pay dividends to investors during peacetime, too. Before you buy stock in Lockheed Martin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lockheed Martin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor's total average return is 988% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy. Why Lockheed Martin Fell on a Good Day for the Markets was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India.com
5 days ago
- Politics
- India.com
Israel-Iran war: What modifications did Israel add to F-35s that it used to attack Iran? These jets completed 4000 km round trip without mid-air refueling due to…
F-35I Adir (File) Israel-Iran war: Israel used its F-35I Adir stealth fighter jets to conduct waves of lethal airstrikes deep inside Iran, and experts are stunned how these fuel-guzzling 5th-generation warplanes completed a nearly 4000 km-long round trip without the need for refueling. According to a media report, the F-35I Adir– the custom variant of Lockheed's F-35 Lightning-II operated by the Israeli air force– incorporates several modifications that extend its operational range without requiring mid-air refueling . What modifications were made to the Israeli F-35s? Quoting two senior US officials on the condition of anonymity, Middle East Eye (MEE) reported that the F-35 which Israel used to attack Iran did not use mid-air refueling, nor land in any nearby country to refuel. While the modifications added to Israel's F-35 fleet are highly-classified, the MEE report, citing US officials, said that the stealth fighters have been modified to carry additional fuel, allowing these warplanes to fly long missions without requiring a refuel. The officials asserted that these custom modifications have not the affected the stealth capabilities of the F-35I Adir. Notably, Israel is the only country to fly a custom variant of the F-35. The US officials termed the F-35's performance in Iran a 'game changer', stating that the US had approved these modifications. 'This is a game changer. Israel had our cooperation in this modification.' The F-35 is the world's only long-range stealth fighter aircraft, equipped with advanced stealth capabilities, which makes it highly difficult for radar systems to track. Israel-Iran war Israel launched its fiercest attack on Iran, unleashing a wave of pre-dawn air strikes on Iranian cities on Friday, including capital Tehran, under Operation Rising Lion, in which several top Iranian nuclear scientists and military commanders, including IRGC chief Hossein Salami, commander Ghulam-Ali Rashid, nuclear scientist Dr. Mohammad Tehranchi, nuclear scientist Dr. Fereydoon Abbasi and Iran's Armed Forces Chief of Staff Major General Mohammad Bagheri. Tehran vowed to avenge the Israeli attack, stating that its response will be anything beyond what Israel and ally, the United States, could ever imagine, triggering the fears of a full-scale Iran-Israel war. On the intervening night of Friday and Saturday, Iran responded with a barrage of missiles and drones that struck several Israeli cities and major population centers, including Tel Aviv. Israel launched a fresh wave of strikes on Iran on Saturday, killing more of Iran's top military brass and nuclear scientists.
