Lockheed s new CEO surprises with US$4.4B old-space deal
Julie Johnsson, Bloomberg News An attendee takes a photograph of a U.S. Marine Corps. F-35B Lightning II fighter jet, manufactured by Lockheed Martin Corp., performing maneuvers during the Singapore Airshow at the Changi Exhibition Centre in Singapore, on Tuesday, Feb. 11, 2020. , Bloomberg
Lockheed Martin Corp.âs new chief executive officer has talked up his interest in artificial intelligence and advanced communications since taking the reins six months ago. But for his first major deal, Jim Taiclet chose a longtime supplier, Aerojet Rocketdyne Holdings Inc.
Adding Aerojet should bolster Lockheedâs capabilities in missile-defense batteries, hypersonic vehicles and space, where the defense giant has a venture with Boeing Co. that competes with Elon Muskâs SpaceX. Joining with Lockheed will unlock greater potential for Aerojet as a seller of propulsion sys
Worldwide Naval Combat Systems Industry to 2024 - Greater Focus on ISR Operations is Driving Growth
December 21, 2020 08:13 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
ResearchAndMarkets.com s offering.
The publisher has been monitoring the naval combat systems market and it is poised to grow by $7.56 billion during 2020-2024 progressing at a CAGR of 3% during the forecast period. The report on naval combat systems market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the greater focus on ISR operations, increasing demand for unmanned underwater vehicle and aggressive expansion of China s naval fleets in critical regions.
Lockheed to boost space expansion with $4.4 billion Aerojet deal
At $51, Lockheed will be buying Aerojet at a 21% premium from its closing price on Friday.
Lockheed Martin Corp. is expanding its foray into futuristic space travel and missile defense by acquiring supplier Aerojet Rocketdyne Holdings Inc. in a deal valued at $4.4 billion, targeting higher sales and more savings in an environment of tightening defense budgets.
Aerojet is a supplier to Lockheed, including its Lockheed Martin’s Grand Prairie-based Missiles and Fire Control division and its F-35 assembly facility in Fort Worth.
As part of the transaction, Aerojet declared a $5 per share special dividend to be paid on March 24 to holders of record as of March 10. The payment of that special dividend will adjust the $56 per share consideration to be paid by Lockheed Martin, according to a statement Sunday.
Lockheed Martin Corp. is expanding its foray into futuristic space travel and missile defense by acquiring supplier Aerojet Rocketdyne Holdings Inc. in a deal valued at $4.4 billion, targeting higher sales and more savings in an environment of tightening defense budgets.
As part of the transaction, Aerojet declared a $5 per share special dividend, to be paid March 24, to holders of record as of March 10. The payment of that special dividend will adjust the $56 per share consideration to be paid by Lockheed Martin, according to a statement Sunday.
At $51, Lockheed will be buying Aerojet at a 21% premium over the stock’s Friday closing price. Lockheed Chief Executive Jim Taiclet stepped into the top job this year with a reputation as a dealmaker, and the company had a stockpile of cash. With Aerojet, he’s picking up a key U.S. supplier of propulsion systems for missiles, rockets and other space and defense applications.
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The new naval combat systems market research report from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
Technavio has announced its latest market research report titled Naval Combat Systems Market by Product, Platform, and Geography - Forecast and Analysis 2020-2024 (Graphic: Business Wire).
For a More Detailed Analysis, One of the primary growth drivers for this market is the greater focus on ISR operations, says a senior analyst for Industrials at Technavio. As the markets recover, Technavio expects the naval combat systems market size to grow by USD 7.56 billion during the period 2020-2024.