Terms of the acquisition include the shipbuilder paying a fixed fee of €300 million ($323 million), and “based on certain growth assumptions,” an additional €115 ($124 million) directly relating to performance of the underwater armaments business this year.
By Tim MartinMillennium Space Systems is delivering on critical missile tracking constellation
With programs like MTC, Millennium Space Systems is redefining what it means to be an operational prime – rapidly delivering operational small sat constellations on rapid timelines.
“Underwater will be what was space 40 years ago,” company CEO Pierroberto Folgiero told Breaking Defense during a recent visit to Washington.
By Aaron Mehta
EDGE will control 51 percent of the joint venture, giving it the right to produce Fincantierri’s ships for the region.
By Agnes Helou and Tim Martin Fincantieri CEO Pierroberto Folgiero told Breaking Defense the modularity approach shortens production time against a general frigate market trend of 40 months, and he “strongly believes” Saudi Arabia stands as a key “addressable market” to secure a future FCx30 sale.
By Tim Martin
A total budget of €87 million ($92 million) has been allocated for the project’s first phase, split between €60 ($63 million) in European Commission (EC) grants and €27 million ($28 million) from member states Italy, France, Spain, Denmark, Greece and Norway.
By Tim Martin
“The [Horizon-class] ships as they are right now, do not have an anti-ballistic missile defense capability, so that is the main improvement,” Enrico Gottardo, Bids Director at Naviris, told Breaking Defense.
By Tim Martin
The Italian government cited changed conditions on the ground in Yemen as its reason to lift the years-long block.
By Agnes Helou
Modernizing military simulation with open systems architecture
Best-of-breed common models and architecture enable virtual training and testing with the same data in a cyber-resilient posture.
Greece plans on acquiring three ships while retaining an option for a fourth, with industry competitors committing to supporting local shipbuilding as part of their bids.
By Tim Martin
In an exclusive interview, CEO Pierroberto Folgiero and chairman Claudio Graziano lay out their views of what the coming year may bring for the Italian shipbuilder.
By Justin Katz
Naval buys position the peninsula Gulf nation to work with international allies, while sailing into deeper waters.
By Agnes Helou
By using proven technology, the frigate program is trying to prevent the kind of high-tech teething troubles that bedeviled the Ford-class carrier and Littoral Combat Ships.
By Sydney J. Freedberg Jr.
The biggest defense manufacturers in the world warned the Pentagon and OMB of “significant job losses in pivotal states” if Congress doesn’t come up with stimulus money to cover unforeseen expenses.
By Paul McLeary
“I see no scenario where frigate isn’t a major player where we’re heading,” Navy acquisition chief says.
By Paul McLeary
The Navy is looking to get a new class of frigates in the water as soon as possible, but the budget wrangling between Congress and the White House might mean that gets put on hold.
By Paul McLeary
