Weekly News Update: Apr 19, 2024
13 - 19 Apr 2024
Good morning,
So far we’ve avoided World War III, despite Iran launching an unprecedented attack from its territory against Israel and despite China pumping tons of materiel into Russia.
Israel seems to have responded in a very restrained manner, likely seeking a dampening effect to avoid escalation.
Counter-UAS, advanced manufacturing, and undersea technologies dominated the headlines for tech this week.
And several VC/PE firms have raised money to keep investing into Defense Tech!
Let’s dive in to these and other issues surrounding aerospace and defense technology.
Weekly News Round Up
Military
U.S. Defense modernization and innovation
House to hold separate votes on Ukraine, Israel, Taiwan aid (DN)
Next Generation Squad Weapon and optic exceed soldiers’ expectations (AT)
Army deploys midrange missile for first time in Philippines (DN)
Lawmakers push for two submarines despite US Navy seeking just one (DN)
DIU expands program exploring geothermal energy for forward bases (DO)
AI flies X-62 VISTA during simulated dogfight with manned aircraft (TA)
Building our Defense subscriber and director of DIU, Doug Beck, seeks to grow DIU to give DefenseTech startups a chance (BBG)
Defense Innovation Board holds its spring meeting (DOD)
Defense Tech Opportunities
DoD announces next tranche of projects to receive funding to Accelerate the Procurement and Fielding of Innovative Technologies (DOD)
It’s once again SBIR season! DoD SBIR 2024.2 and STTR 2024.2 are available (DSIP)
Europe, Russia, the Arctic, NATO, and the war in Ukraine
Poland to join European Sky Shield scheme, following thaw with Berlin (DN)
German chancellor pressures Xi Jinping on Russia’s Ukraine war (AP)
Ukraine’s military chief warns of ‘significantly’ worsening battlefield situation in the east (AP)
US Intel: China surges military sales to Russia to help war effort in Ukraine (AP)
Russia seeks military mass to outgun Ukraine (WP)
Armenia deepens military ties with Western allies (DN)
China, Korea, and Asia
Lawmakers have a fix for Taiwan’s weapons backlog: Build them on the island (Po)
US financial firms facilitated investments into blacklisted Chinese companies (RT)
Chinese diplomats are quietly meeting with Hill staffers about TikTok (Po)
China floods the steel market, driving global backlash (WSJ)
Australia unveils ‘historic’ defense boost to 2.4% of GDP in decade, but critics say too little, too late (BD)
S. Korea’s defense chief warns, North will field hypersonic weapons someday (S&S)
Middle East and Africa
Following Iranian attack this weekend, Israel launches drones and missiles at Isfahan air base in restrained response (AP)
House passes host of bills targeting Iran after attack on Israel (Po)
Israeli tanks push back in to northern Gaza, air strikes hit Rafah (RT)
Belgium postpones Red Sea deployment after frigate mishaps (DN)
World donors pledge $2.1 billion in aid for war-stricken Sudan to ward off famine (AP)
Counter-UAS systems top AFRICOM’s unfunded wish list (BD)
Hundreds rally in Niger's capital to push for U.S. military departure (RT)
US vetoes Palestinian bid for recognition as full UN member state (NYT)
U.S. Defense Industry News
5N Plus nabbed a $14.4M DoD contract to advance the production of germanium substrates used in solar cells for satellites (DOD)
Marines pick AeroVironment, Anduril, and Teledyne FLIR to compete for $250M loitering munition contract (MCT)
Anduril partners with Korean shipbuilder HD Hyundai Heavy Industries to design new unmanned platforms (DN)
Anduril’s Aussie drone sub ‘one year early and on budget,’ heads to production (BD)
Boeing pitches new surveillance, strike missions for MQ-25 tanker drone (BD)
Boeing whistleblower said firm ignores safety concerns at Senate hearing (FT)
Formlabs says new 3D printer ‘rivals injection molding’ (TC)
Missile Defense Agency picks Lockheed to build next-gen interceptor missile for homeland defense (DN)
Relativity secured a $8.7M AFRL contract to study flaw detection in 3D printing (SN)
Sierra Space aims to deliver critical supplies globally within 90 minutes (GM)
Silvus and Kagwerks marry radios, chest rigs for battle communications (C4)
Sikorsky to lay off hundreds after Army’s FARA decision (Mi)
SpaceX and Northrop are working together on a constellation of spy satellites (AT)
True Velocity sues Sig Sauer, alleging stolen trade secrets (DN)
Foreign Defense Industry News
Argentina agrees to buy 24 F-16 jets from Denmark (DN)
Airbus rolls out first A400M destined for Kazakhstan (DN)
Brazilian Air Force, Embraer launch study for surveillance fleet (DN)
British Navy ships to carry drone-zapping lasers from QinetiQ and Leonardo UK (DN)
DJI launches new small drone power stations with bidirectional ports (TV)
Rheinmetall to ramp up Baltic presence with Lithuania munitions plant (DN)
Russian MiG-31 fighters can now refuel in flight, extending their range to cover key NATO bases (EAT)
Space
NASA chief says China is being 'very, very secretive' and pretending its space projects aren't linked to the military (BI)
SPY-7 radar tracks live space objects ahead of delivery to Japan (DN)
FAA to require reentry vehicles licensed before launch (SN)
Space could represent a $1Tn economy by 2040 (SN)
Sweden becomes 38th country to join the Artemis Accords for lunar exploration (SN)
Nuclear Power & Weapons
Iran warns Israel agains attacking its nuclear facilities (NW)
AI, Robotics, & other Frontier Tech
Chinese scientists rigged a low-cost AI computer chip to power a hypersonic weapon (SCMP)
CYBERCOM establishes an AI Task Force (DS)
Drones are crowding Ukraine’s skies, largely paralyzing battlefield (WP)
TSMC shares fall after downgrading 2024 global chip outlook (WSJ)
OpenAI-rival Mistral AI is in talks to raise several hundred million dollars at a $5B valuation (TI)
A&D-Focused Finance
a16z raised $7.2B for new funds, including $600M for its first American Dynamism fund focused on solving hard problems including national security (AX)
VC SOSV closed its latest fund at $306M to invest in early-stage deep tech (TC)
Former top SpaceX exec Tom Ochinero sets up new VC firm named Interlagos, filings reveal (TC)
Defense-focused PE firm Godspeed Capital Management acquired Special Aerospace Services to create a new space, hypersonics, and missile defense technology and solutions platform (BW)
Magnus Metal, a startup building a metal casting technology that is as fast and energy efficient as 3D printing, raised a $74M Series B led by Entrée Capital and Target Global (TC)
Iceye, a startup building SAR satellites, raised a $93M round led by Solidium Oy (FN)
UK-based small launch developer Orbex raised a $20.7M Series D led by Octopus Ventures, BGF, and more (TC)
Allen Control Systems, a defense technology company focused on counter-drone robotic gun systems, raised a $12M seed round led by Craft Ventures (BW)
Aerospace parts manufacturer Loar is seeking to raise up to $286M at a ~$2.3B valuation in a US IPO (RT)
Important Reads
We peel back the numbers on the costs of Iran’s attack on Israel.
Maggie Gray discusses the important use-case for GenAI coding for national security.
Andy Yakulis looks at how Iran’s attack on Israel underscores a need to review and update our doctrine.
Lighter Side
Keep building!
Andrew