Weekly News Update: Jun 28, 2024
22 - 28 Jun 2024
Good morning,
After driving more than 1500 miles (round trip) to Detroit and home, I’m slowly recovering from the REINDUSTRIALIZE summit. Designing America put on an incredible event pulling in more than 500 leaders from industry, VC firms, and government to discuss how we rebuild America’s industrial capacity to meet future threats and risks. Well done to the DA team and this supporting the conference!
In the news, China and the Philippines, Israel and Hezbollah, North and South Korea all continue antagonizing each other. Poop-balloons are flying again. Russia and China continue to act suspiciously in space, as they seek advantages there in the event of a war. Boeing’s Starliner crew remains stuck in space, having needed to shelter-in-place with ISS crew as a satellite mysteriously broke up sending debris hurtling at the space station. And money continues to pour into the sector with some exceptionally large rounds (e.g., Anduril is raising $1.5Bn at a $12.5Bn valuation!).
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
SXSW bars Army, defense industry from sponsoring 2025 event (BD)
Pentagon unveils IT modernization plan to tackle talent, tech hurdles (C4)
Pentagon to identify next Replicator capability set this summer (C4)
DISA says IT ‘problem statements’ will help industry speed innovation (C4)
Attacks against defense industrial base increasing, NSA chief warns (DO)
DARPA announces a new flying-wing reconnaissance X-Plane: XRQ-73 (ASF)
Pentagon to issue guidance on open radio access networks to support 5G (C4)
Air Force to make first of 13 HACM hypersonic tests this fall (ASF)
Army’s new precision missile hit moving target in Pacific exercise (DN)
Defense Tech Opportunities
NASA is extending its Next Space Technologies for Exploration Partnerships -2 (NextSTEP-2) BAA period of performance through the end of the fiscal year (SAM)
The Naval Air Warfare Center Aircraft Division (NAWCAD) is interested in receiving white papers for R&D projects which offer potential for advancement and improvement of NAWCAD operations (SAM)
Europe, Russia, the Arctic, NATO, and the war in Ukraine
NATO appoints outgoing Dutch PM Mark Rutte as its next secretary (DN)
US SECDEF meets with Russian DEFMIN for first time in over a year (DN)
Internat’l Criminal Court issues warrant for Russian officials over attacks on Ukrainian power plants (AP)
US expected to bolster Ukraine’s defense with $150M in munitions (AP)
Ukraine’s naval drones turned the tide in the Battle of the Black Sea (WSJ)
EU sanctions 27 ships it says are helping Russian war machine (BBG)
NATO wants to boost its undersea defenses (FP)
In reversal, Pentagon says Ukraine may fire US missiles into Russia in self-defense (MT)
China, Korea, and Asia
US ambassador calls China’s tech support for Russia during Ukraine invasion a ‘major mistake’ (AP)
Philippines seeking call with China over emerging Sierra Madre crisis (DN)
N. Korea claims multi-warhead missile tech (NYT)
Chinese subsidies for drones, chips put US at risk, House panel says (WP)
Suspected N. Korean hypersonic missile exploded in flight, S. Korea says (AP)
N. Korea launches poop balloons towards the south, again (CNN)
Inspector General: DoD didn’t adequately track funds sent to Chinese research labs (MT)
Middle East and Africa
Iranians head to the polls today to elect a new president (WP)
Expanding extremist groups in Africa fuel worries that they could attack the US or Western allies (AP)
US to vacate first air base within weeks as it withdraws from Niger (DN)
Suspected Yemen Houthi attack targets vessel in waters further away than many previous assaults (AP)
U.S. Defense Industry News
Army hopes digital models in contracts can help industry deliver faster and better (DO)
Army to buy more than 1,000 AeroVironment Switchblade drones through Replicator—a far cry from the thousands of attack drones it needs (C4)
NTSB sanctions Boeing, DoJ considers criminal charges (RT)
Boeing moves forward with new Phantom Works site, despite questions over NGAD’s future (DD)
Army green lights Lockheed’s guided rocket production (DN)
Lockheed was awarded a $977.5M contract extension from DoD to continue developing geosynchronous missile-warning satellites (SN)
SandboxAQ launches navigation system to counter GPS spoofing, jamming (BD)
Dronemaker Skydio hiring team in Ukraine amid strategy shift (DN)
Foreign Defense Industry News
EU’s fresh designs for funding a defense resurgence, explained (DN)
BAE Systems eyes larger AMPV production line, new variants, foreign customers (BD)
Boeing’s aircraft woes drive drone focus at Leonardo facility (DN)
Armed with Thales’ quantum sensors, France eyes leaps in electronic warfare (DN)
Thales to create joint venture with Ukraine to boost military supplies (RT)
Germany approves funds to develop supersonic weapon, buy thousands of missiles (DN)
Safran, MTU team up to power Europe’s next-gen military helicopter (DN)
Israel’s defense sales top $13B as 2023 becomes another record year (BD)
India advances light attack helicopter program with large tender (DN)
South Korea orders first batch of KAI KF-21 fighters (DN)
Spain’s unmanned SIRTAP flies through its critical design review (FG)
Sweden buys Milrem’s ground robots (JN)
Three workshops receive upgrades at Russian bomber manufacturer (DN)
Space
United Launch Alliance to fly second Vulcan mission in September (C4)
SPACECOM prepping data fusion pilot to create ‘common operational picture’ (BD)
Space Force faces ‘bellicose’ PLA willing to risk escalation: RAND (BD)
NASA awards SpaceX contract for space station deorbit vehicle (SN)
Pentagon is pleased with SpaceX efforts to block Russia from accessing Starlink (BBG)
Firefly plans to begin launching Alpha rockets from Wallops Island (FA)
Starlink satellites could damage the environment for decades, study says (Ind)
Russian spy satellite reportedly continues suspicious maneuvers (SN)
Nuclear Power & Weapons
Air Force Ousts Head of Its Troubled $131 Billion ICBM Program (BBG)
Next-gen homeland defense interceptor plans are risky, watchdog says (DN)
AI, Robotics, & other Frontier Tech
Zero trust at DoD hinges on thawing stubbornness in the workforce (FdT)
Amazon is secretly working on a ChatGPT rival (BI)
Army to seek industry help on AI (DO)
A&D-Focused Finance
Austin-based Ironspring Ventures raised $100M to invest in the industrial revolution (TC)
Alpine Space Ventures raised $155M for its venture capital fund (AT)
India to soon get VC fund for deeptech startups in defense, aerospace: Ajay Kuma (ET)
VC giant a16z plans to raise its first PE fund (FR)
VC 8090 Industries shuns AI / tech with 275% return in industrials (BBG)
Anduril nears $12.5Bn valuation in $1.5Bn fundraising round led by Founders Fund, Sands Capital (TI)
Battery startup Sila raised a $375M Series G led by Sutter Hill Ventures (TC)
Isar Aerospace extended its Series C funding round by more than €65M ($69.8M), bringing the total value of the round to more than €220M ($234.8M) (IA)
Innatera, an ultra-low power neuromorphic processor startup, raised a $21M Series A extension led by Innavest and InvestNL (FN)
Musk's SpaceX launched a tender offer at a $210B valuation (BBG)
SES obtained a €3B ($3.2B) acquisition package to acquire Intelsat (BW)
French defense firm Safran in talks to buy French AI startup Preligens for €220 million, to incorporate the startup’s satellite data analysis tech (DN)
Airbus is nearing a deal to acquire some of aerospace supplier Spirit AeroSystems' projects, paving way for Boeing's $3.9B purchase of Spirit (FT)
Boeing switched its offer for aerospace supplier Spirit AeroSystems from cash to stock (BBG)
Defense firm Czechoslovak Group will acquire Vista Outdoor's sporting products and ammunition business for ~$2B (RT)
Australian uranium miner Paladin Energy agreed to buy Canada's Fission Uranium in an $833M all-stock deal (WSJ)
Important Reads
Joseph Webster of the Atlantic Council and China-Russia Report highlights the important role that batteries play in military affairs.
Lighter Side
Keep building!
Andrew