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Aerospace and Defense Headlines

U.S. budget pinch presses arms makers to cut costs

Mounting budget pressures worsened by the global financial crisis are giving new urgency to calls for the Pentagon and its top suppliers to rein in the runaway costs of nearly every major arms program.

Arms makers see slower U.S. defense growth

The Pentagon's top contractors expect U.S. defense spending to grow more slowly in coming years than at any time since the September 11, 2001, attacks on the United States.

Boeing still happy to be in space

Boeing Co expects profit margins in the mid-single digits in its space business this year after struggling with performance issues in past years, the company's defense chief said on Wednesday.

FACTBOX: Pentagon's top 5 suppliers

Following is a snapshot of the five biggest U.S. defense contractors hired by the Pentagon to build military aircraft, ships, missile systems and other weapons and services.

Next moon footprints Chinese, aero group warns

The aerospace industry is urging the United States to rev up a 21st century space race that could otherwise see a Chinese astronaut beating America back to the moon -- last visited by U.S. Apollo explorers in 1972.

Boeing warns on "best value" tanker

Boeing Co said it would bid again under any rules to sell the U.S. Air Force refueling aircraft, but criticized a proposed approach to the multibillion-dollar competition backed by rival Northrop Grumman Corp as courting problems.

Boeing stands by defense growth plan

Boeing Co still aims to boost defense sales by 4 to 5 percent over the next five to 10 years, even in the face of a global recession and uncertainty over defense budgets worldwide, the head of the U.S. No. 2 arms supplier said on Wednesday.

Boeing, Airbus seen facing mass order deferrals

Boeing and Airbus could see up to 70 percent of the planes in their order book pushed back by struggling airlines as the global economic crisis puts a stranglehold on the recently booming travel industry, a leading analyst told Reuters this week.

Britain may speed up air tanker delivery

Britain is in talks to speed up the delivery of mid-air refueling tankers that can double as troop transporters, partly driven by delays to Europe's A400M military airlifter, European defense industry officials said.

Boeing offers US Navy F-18s under $50 million

Boeing Co highlighted the affordability and capability of its F-18 fighter jets, saying Wednesday it had offered them at less than $50 million each to cover the U.S. Navy's expected "fighter gap" until the new F-35 fighter is available.

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