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14 Sep 23. Military Drone Market Production Increasing as Defense Orders Pick Up. FinancialNewsMedia.com News Commentary – The growing use of Unmanned Aerial Vehicles (UAVs) in the defense and security industry for several applications such as surveying, mapping, transportation, combat operations, and monitoring will fuel the demand for military UAVs in the coming years. The rise in defense expenditure of various countries to procure modernized & technologically advanced military drones/UAVs for intensified combat capability is expected to support the global market growth. The adoption of Artificial Intelligence (AI) is modernizing military drone technologies from picking targets autonomously with precision. Furthermore, increasing investment in AI and autonomous systems for advanced technologies is boosting this market. A report from Fortune Business Insights said that the global military drone market size, which was valued at USD 12.55 bn in 2022, is projected to grow from USD 14.14 bn in 2023 to USD 35.60 bn by 2030, exhibiting a CAGR of 14.10% during the forecast period. The report said: “Drone technology has witnessed strong growth in the past years due to continuous research & development. Innovation enhancing the capabilities and increasing adoption of modernized technologically advanced UAVs has potential opportunities. Most advanced drones have multiple sensor systems, such as air-to-air missiles, Communication Intelligence Sensors, and Global System for Mobile (GSM) communications.” Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), NVIDIA Corporation (NASDAQ: NVDA), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), Lockheed Martin Corporation (NYSE: LMT), AeroVironment, Inc. (NASDAQ: AVAV).
Fortune Business Insights added: “Today, the most advanced unmanned aerial vehicles can carry a few pieces of equipment attached to large sensors and internal weapons compartments. Autonomous flight systems for high-altitude military drones are being commercially developed with AI. The increasing growth of artificial intelligence and autonomous systems will likely boost the market. This development is expected to lead to strong growth in the global military unmanned aircraft market in the future. North America is a dominant region with the highest military drone market share in (recent years). This large share is attributed to several OEMs, in the U.S. Advances have been made in drone technology, which brought major developments within the U.S. military, and increased investment by key regional players boosted the market growth. The U.S. is one of the world’s largest exporters of unmanned aerial vehicles, which is expected to drive regional growth.”
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly Secures First Defense Orders for its Commander 3 XL with the U.S. Military – The Commander 3 XL to be utilized to enhance mission success enabling confident and accurate navigation through unfamiliar terrain and GPS Denied Environments – Draganfly Inc. (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce that it has secured its first defense orders for its Commander 3 XL with the U.S. Military.
The Commander 3 XL is being utilized to enhance mission success by enabling confident and accurate navigation through unfamiliar terrain and GPS denied environments. Securing these first orders is a substantial milestone for both the company and the Commander 3 XL platform.
Draganfly’s Commander 3 XL Drone is a high-endurance, weather-resistant, multirotor UAV designed for easy assembly and rapid deployment. The “Swiss Army Knife” of drones has multiple configurations for radio equipment, including point-to-point and cellular links, and can perform tasks in light rain and snow.
“We are thrilled that the U.S. Military has seen fit to utilize the Commander 3 XL platform to aid in achieving their mission objectives in unfamiliar terrain and GPS denied environments,” said Cameron Chell, President and CEO of Draganfly. “We are excited by the expanding opportunities to collaborate and deliver solutions meeting evolving needs and challenges in the defense space.” CONTINUED… Read this full press release and more news for Draganfly at: https://draganfly.com/news/
Other recent developments in the markets of note include:
NVIDIA Corporation (NASDAQ: NVDA) recently announced an extensive collaboration with Tata Group to deliver AI computing infrastructure and platforms for developing AI solutions. The collaboration will bring state-of-the-art AI capabilities within reach to thousands of organizations, businesses and AI researchers, and hundreds of startups in India.
The companies will work together to build an AI supercomputer powered by the next-generation NVIDIA® GH200 Grace Hopper Superchip to achieve performance that is best in class. “The global generative AI race is in full steam,” said Jensen Huang, founder and CEO of NVIDIA. “Data centers worldwide are shifting to GPU computing to build energy-efficient infrastructure to support the exponential demand for generative AI. “We are delighted to partner with Tata as they expand their cloud infrastructure service with NVIDIA AI supercomputing to support the exponential demand of generative AI startups and processing of large language models,” Huang said.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, recently reported its second quarter 2023 financial results. For the second quarter of 2023, Kratos reported Revenues of $256.9m, Operating Income of $6.7m, Net Loss of $2.7 m, Adjusted EBITDA of $21.6m and a consolidated book to bill ratio of 1.1 to 1.0.
Eric DeMarco, Kratos’ President and CEO, said, “For Q2, Kratos generated consolidated organic revenue growth of 10.7%, Adjusted EBITDA of $21.6 m, cash flow from operations of $23.6 m and free cash flow from operations of $20.7m. Kratos’ Unmanned Systems book to bill ratio for Q2 was 1.2 to 1.0 and Kratos’ overall book to bill ratio both for the second quarter and year to date was 1.1 to 1.0. Additionally, we have a record backlog and a bid and proposal pipeline of approximately $10 bn, including hypersonic, space, propulsion system, satellite communications and drone opportunities, with several where multiple Kratos business units are collaborating in a company-wide Kratos cross-divisional pursuit.”
Lockheed Martin Corporation (NYSE: LMT) recently clinched a modification contract involving its F-35 fighter jet program. The award has been offered by the Naval Air Systems Command, Patuxent River, MD. Valued at $841.5m, the contract is expected to be completed by December 2029. Per the terms of the deal, Lockheed will provide non-recurring site activation and initial sustainment to support F-35 Joint Strike Fighter program.
The jet manufacturer will also render associated administrative support including fleet management, support equipment, pilot flight equipment, post ejection survival training material, program management and earned value management for the F-35 program. A major portion of the work related to this deal will be executed in El Segundo, CA. The contract will serve the U.S. Air Force, Marine Corps, Navy, Foreign Military Sales customers and non-Department of Defense participants.
AeroVironment, Inc. (NASDAQ: AVAV) reported financial results for the fiscal first quarter ended July 29, 2023. First Quarter Highlights Were: First quarter revenue of $152.3m, up 40% year-over-year; First quarter net income of $21.9 m and Adjusted EBITDA of $37m, an increase of 361% and 185%, respectively; Record funded backlog of $539.7m as of July 29, 2023, an increase of 27% from prior quarter; and Raising revenue and Non-GAAP adjusted EBITDA guidance ranges.
“We delivered record first quarter results,” said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. “Revenue climbed 40% year-over-year due to higher shipments across all our business segments, indicative of robust demand for our innovative, intelligent, multi-domain unmanned systems. Gross margins, as a percent of sales, also increased significantly, while our funded backlog increased to a new record of $540m – from $424m at the start of the fiscal year – reflecting nearly $270m in new bookings during the quarter. Since fiscal year 2024 is off to such a great start, we are also raising full year guidance to reflect our improved outlook for the Company. (Source: PR Newswire)
17 Sep 23. Thales has appetite for more acquisitions even after its recent €4bn buying spree, its chief executive said, as Europe’s largest defence electronics group seeks to capitalise on a resurgence in military spending and post-coronavirus recovery in civil aviation. Patrice Caine, who has led Thales since 2014, said the French group could still “deploy capital on additional mergers and acquisitions” in any of its business segments, although integrating the recent purchases would be the immediate focus. Thales surprised investors over the past few months by announcing three acquisitions in quick succession including a $3.6bn deal for US cyber security group Imperva, its largest acquisition since late 2017 when it bought digital security company Gemalto for €4.8bn. “Priority number one would be to integrate these companies” to demonstrate to investors that Thales can “create the value they expect”, said Caine in an interview in London. But it would remain on the lookout for expansion opportunities. “We do acknowledge that there may be some interesting M&A in the future,” he added. “So cyber, clearly but not only, aerospace, defence or space as well.” Thales has been progressively building up its cyber security activities for almost a decade. Caine said it was on track to reach €2.5bn in sales by the end of 2024. Nor will Thales have to sacrifice on shareholder returns in terms of dividends and buybacks, said Caine. A previously announced buyback programme will be honoured, and the group’s dividend payout ratio stands at about 40 per cent currently. The group’s leverage will remain manageable even after its deals because it is also divesting a business to Japan’s Hitachi for €1.6bn. It has said its net debt to earnings before interest, tax, depreciation and amortisation ratio will stand at 0.7 times by the end of 2024, which is an acceptable level for an investment-grade company, according to analysts. However Sash Tusa, analyst at Agency Partners, said that given the recent purchase spree “it is hard to escape the conclusion that this is it for buybacks after March 2024”. Thales occupies a key position in the French corporate defence landscape because it makes technology, software and sensors that go into leading arms programmes such as the Rafale fighter jet and the SAMP-T air defence system. But it also provides technology for civilian aircraft, such as in-flight entertainment and radars, and satellites and other services for communications in space, as well as now having activities in cyber security. Thales has the French state as its biggest shareholder with a 25.7 per cent stake and Dassault Aviation, the Rafale maker, with 24.6 per cent stake. Its shares have risen 16 per cent this year, taking them to historic highs and outperforming the MSCI World Aerospace and Defence index, which has remained largely flat. Like its peers in Europe, Thales is benefiting from increased defence spending by governments following the war in Ukraine. Several of the company’s weapons, including the shoulder-fired Starstreak missile, have been donated to Ukraine from western government stockpiles. Thales is among a number of contractors looking for opportunities to strengthen its ties in Ukraine amid signs that the conflict will drag on. Caine said the company was in talks with Kyiv about offering “support and service activities” for its equipment being used in the country. Although countries are spending more on defence since the Ukraine war began, the conflict has also reignited an old debate over whether European countries should develop more joint weapons programmes or continue to rely on off-the-shelf equipment from US manufacturers. The FCAS fighter jet programme, which France and Germany have committed to develop, has been slowed by political and industrial infighting, and a separate effort to develop a futuristic tank has run into similar obstacles. Some analysts are sceptical that the projects will ever see the light of day. The FCAS also faces competition from another project from the UK, Italy and Japan known as GCAP that is advancing more quickly, although Caine dismisses comparisons between the two, noting: “It is a long-term project . . . I’m not worried.” Asked for his view on whether deeper defence co-operation among EU countries was really possible, he pointed to some successful examples such as work Thales has done for the British and French naval forces. “If you take examples where you have multiple customers with different operational views or needs, plus different companies having their own agenda, indeed, no need to be a Nobel Prize [winner] to say it is challenging,” he said. (Source: Google/FT.com)
15 Sep 23. China sanctions Northrop Grumman, Lockheed Martin for arms sales to Taiwan. China will impose sanctions against U.S. aerospace and defence firms Northrop Grumman (NOC.N) and Lockheed Martin (LMT.N) for providing weapons to Taiwan, the Chinese foreign ministry said on Friday.
The sanctions are being enacted under China’s Anti-Foreign Sanctions Law, ministry spokesperson Mao Ning told a regular press briefing.
“We urge the U.S. side to effectively abide by the one-China principle… cease U.S.-Taiwan military liaison and stop arming Taiwan, or else it will be subject to a resolute and forceful retaliation by the Chinese side,” she said.
Mao named Lockheed Martin Corp’s branch in Missouri as the prime contractor that was directly involved in an arms sale to Taiwan on Aug. 24 and said Northrop Grumman has repeatedly participated in the sale of weapons to Taiwan.
China has applied sanctions on U.S. companies over selling weapons to Taiwan on numerous occasions before, and it is not immediately clear how they work or what they are intended to achieve given that neither company sells to China.
U.S. President Joe Biden last month approved the transfer of up to $80 m in funds to Taiwan under the Foreign Military Financing programme, according to a notification sent to Congress.
The sanctions were imposed during a week of busy military activity around the democratically-governed island, in which a Chinese naval formation led by the aircraft carrier Shandong passed within 60 nautical miles (111 km) of Taiwan’s southeast.
Taiwan has also reported dozens of Chinese fighters, bombers and other aircraft flying into its air defence zone this week.
Beijing views the self-ruled island of Taiwan as a breakaway province that must accept Chinese sovereignty and has never renounced the use of force to achieve that goal.
China’s wide-ranging law to counter foreign sanctions came into force in 2021 in an apparent move to legalise tit-for-tat retaliation against punitive actions taken by foreign countries.
It has extraterritorial reach and is part of a suite of laws Beijing has introduced in recent years that analysts say may enable China to police countries’ behaviour towards it beyond its shores. (Source: Reuters)
15 Sep 23. Hellios and BAE Systems unveil JOSCAR Zero as industry ESG filings mentions increase. The initiative is intended to help companies in the aerospace and defence sector reduce carbon emissions as customers and suppliers take greater notice of ESG trends.
Hellios Information and BAE Systems have launched a collaborative decarbonisation programme to help aerospace and defence companies and their suppliers calculate and reduce their Scope 3 carbon emissions.
According to a Hellios release on 13 September, JOSCAR Zero collects, measures and identifies how carbon emissions can be reduced across supply chains. It builds on the existing JOSCAR system, a collaborative tool which helps connect suppliers of all sizes with buyers, who can then quickly determine if a supplier is ‘fit for business’.
BAE Systems supported the development of the tool and will be the first company to introduce it into its supplier management process.
JOSCAR Zero was developed by Hellios Information in response to the UK Government’s pledge to a 100% reduction of greenhouse gas emissions by 2050. The UK Ministry of Defence (MoD) and its services have all committed to the reduction of greenhouse missions and achieving net zero by 2050.
According to Hellios, through integrating JOSCAR Zero into its supplier risk management, BAE Systems is “demonstrating its commitment to driving positive change on the path to net zero by mitigating environmental supply chain risks and actively championing a sustainable future for the industry”.
James Clare, director of Levelling Up, the Union, Climate Change and Sustainability, at the UK MoD said: “Responding to the challenge of climate change within defence is a team effort between Government and industry. Collaboration will be integral to reducing carbon emissions, so I am encouraged to see new partnerships being created to find solutions, such as this between BAE, Hellios and their suppliers.”
Amanda Wood, Supply Chain Sustainability director at BAE Systems, said: “We’re aiming to reach net zero across our value chain by 2050, something that will only be possible through close collaboration with our customers and suppliers.”
ESG in the defence sector
The UK’s military services are engaged in initiatives to drive down carbon emissions, as environmental, social, and corporate governance (ESG) forms a central point of development and corporate social responsibility. The Royal Air Force is pushing for a net zero target by 2040, a full decade ahead of UK Government plans, and in April this year completed an air-to-air refuelling flight using a Voyager tanker powered by a 43% blend of sustainable aviation fuel.
The British Army is pursuing options for the acquisition of electric and hybrid vehicles for its non-combat ‘white fleet’ and could in future look towards hybrid powertrains for frontline platforms in later iterations of the Land Mobility Programme. The Royal Navy too is looking at alternative naval fuel options, although First Sea Lord Admiral Sir Ben Key, speaking at DSEI 2023 in London, said that availability of such fuel was not worldwide at present.
Similarly, the defence industry too, particularly where national governments are pursuing ESG as a matter of public policy, is looking to contribute to sustainability programmes. BAE Systems in its H1 2023 report stated that it had “progressed its ESG agenda and engagement across [the company’s] stakeholders”.
ESG mentions in corporate filings
According to GlobalData analysis, as a corporate theme, ESG has increased in mentions from 71 recorded instances in 2016 to 2,136 in 2022. So far this year, analysis has devealed 1,552 instances of ESG mentions in corporate filings. (Source: army-technology.com)
15 Sep 23. US Senator Warren presses Pentagon on L3 Harris deal to buy Aerojet. U.S. Senator Elizabeth Warren, a Democrat who wants more mergers scrutinized, questioned Defense Secretary Lloyd Austin about the Pentagon’s role in the approval in July of L3 Harris Technologies’ (LHX.N) purchase of Aerojet Rocketdyne at a time when the number of defense contractors is at a historic low.
L3 Harris said on July 26 it was informed that the U.S. Federal Trade Commission would not block its $4.7bn deal for Aerojet Rocketdyne. read more It closed the deal within days.
Warren, who had expressed concern about the transaction before it went forward, and other Democratic lawmakers pressed top Pentagon officials on Thursday to keep an eye on the new, bigger company.
“It is imperative that the public be informed about potential conditions of the deal, what enforcement and oversight mechanisms exist to enforce promises made by L3Harris about the deal, and what information the DoD provided to the Federal Trade Commission,” they wrote in the letter sent to Austin and William LaPlante, under secretary for acquisition.
The letter was signed by Warren, chair of the Senate Armed Services Committee Subcommittee on Personnel, as well as U.S. Representatives John Garamendi and Mark Pocan. All are Democrats.
The Pentagon did not immediately respond to a request for comment.
The lawmakers noted concerns that the Defense Department had expressed before the transaction was announced about how the defense industrial base was “historically consolidated” because of previous transactions.
15 Sep 23. Excelitas Technologies to Acquire Heraeus Noblelight Business from Heraeus Group. Excelitas TechnologiesE Corp., a leading industrial and medical technology manufacturer focused on delivering innovative, market-driven photonic solutions, announced that it has signed a definitive agreement with Heraeus Group (Hanau, Germany) to acquire the Heraeus Noblelight business with approximately 850 employees, including operations in Germany, United Kingdom, United States, China and Japan, along with several key application centers.
Heraeus Noblelight is an operative company within Heraeus Group, a broadly diversified and globally leading family-owned technology group. Heraeus Noblelight specializes in the development and manufacture of specialty light sources and solutions, from ultraviolet to infrared, used within analytical instrumentation, industrial curing, water treatment, electronics manufacturing, medical and cosmetic therapy, battery production and many others.
“We see tremendous potential in the union of Heraeus Noblelight’s technology portfolio with our own extensive offering in plasma and LED products. Leveraging our combined investments and expanded offering will drive growth and present innovative integrated solutions to our highly complementary customer and product mix across a variety of unique markets,” said Michael Ersoni, Excelitas Technologies EVP Commercial Business.
The acquisition of Heraeus Noblelight will represent the latest in a series of strategic acquisitions by Excelitas Technologies since its establishment in 2010.
“As a leading player in the specialty light market, Heraeus Noblelight has a strong footprint in the areas of market access, problem-solving expertise, and technological bandwidth. We are convinced, that this agreement will further boost Heraeus Noblelight’s stable growth path of the last years,” said Jan Rinnert, CEO and Chairman of the Board of Managing Directors of Heraeus Group.
The agreement has been approved by both companies. Terms are not being disclosed and the transaction is expected to close before the end of 2023 (subject to obtaining regulatory approvals).
14 Sep 23. Saab signs strategic cooperation agreement and makes investment in Helsing. Saab has entered into a strategic partnership with Helsing, a defence company specialising in AI-based software technologies. The partnership is built on a cooperation agreement, combining Helsing’s highly advanced AI capabilities with Saab’s wide range of solutions, and an investment by Saab of EUR 75 m in cash for a 5 percent stake in Helsing GmbH.
Helsing, founded in 2021, develops AI-based capabilities with a software-only approach, which has led to rapid market adoption across Europe. The company has offices in Germany, the United Kingdom and France and has a total of approximately 220 employees.
In line with Saab’s growth strategy and focus on future capabilities, Saab is seeking to enhance its capabilities through acquisitions and strategic partnerships with companies specialising in new technologies. Through this partnership and investment, Saab will be uniquely positioned with Helsing.
Saab will benefit as strategic investor in Helsing, thereby enhancing a close cooperation between the two companies and unlocking further capabilities across its portfolio. The cooperation will start with electronic warfare and surveillance capabilities for fighter aircraft as well as other sensors and command and control applications in all domains.
“The investment in Helsing marks another milestone in Saab’s commitment to further bolster our capabilities and continuously improve our portfolio to meet the evolving needs of our customers. Together with the recent acquisitions of BlueBear in the United Kingdom and CrowdAI in the U.S., it also supports our international growth strategy as we seek to ensure Saab is well positioned in strategic markets,” says Micael Johansson, President and CEO of Saab.
“We founded Helsing because we believe that AI will be essential for democracies to continue to defend their values. To serve that mission, we are committed to deep partnerships with established defence companies, combining their exquisite platforms with our cutting-edge software and AI. Saab as a renowned European all-domain defence company is an ideal partner for our advanced software and AI solutions. In today’s challenging threat landscape, it’s ambitious partnerships like these that lead the way,” says Dr Gundbert Scherf, co-CEO and co-founder of Helsing.
13 Sep 23. Denel says it is making progress with its turnaround strategy. Interim Denel Group CEO Mike Kgobe on 13 September updated the Portfolio Committee on Public Enterprises about progress at the state-owned defence conglomerate. He explained the nearly R1 bn received from the Denel Medical Benefit Trust (DMBT) last year allowed Denel to pay its salary backlog and pay suppliers in order to resume production.
He said Denel is by and large being stabilised through the DMBT funds, and that the additional recent R3.4 bn Treasury recapitalisation has also gone a long way towards stabilising the company (55% of the latter, or R1.8 bn has been received so far with the remainder to be released once certain conditions are met). These capital injections have enabled Denel to restructure, right-size and reposition towards its new business model that will, amongst others, take it from six divisions to four operating units (Guided Weapons, Land, Air, and Integrated Systems).
Denel requires R2.29bn to complete its turnaround plan, and the cash required will come from the sale of non-core assets and the remainder of recapitalisation funds from National Treasury.
The turnaround plan aims to secure the existing customer base, Kgobe said, adding that over the last several months Denel has had discussions to restart key programmes such as Hoefyster, which has been ‘on pause’ for the past five years. Denel has also been able to restructure activities around the A-Darter missile for the South African Air Force (SAAF) following engagement with Armscor and the SAAF. The Dynamics division, which covers unmanned aerial vehicles and guided weapons, was hit hard by critical skills losses but Kgobe said the guided weapons capability is being restored, and progress has been seen in the last few months.
“We are now moving into the growth phase, and chasing new revenue streams around the world as well as identifying numerous opportunities. There have been requests for proposals internationally and we are busy responding to that,” Kgobe said.
Sale of non-core assets
With regard to the sale of non-core assets, Kgobe explained that Denel is in the process of selling the Denel-owned properties being used by Rheinmetall Denel Munition (RDM) and Hensoldt South Africa back to those companies and these sales are expected to be concluded by October this year.
Denel has a 49% stake in RDM and it will retain this stake, but it will sell its 30% share in Hensoldt South Africa. A Public Finance Management Act (PFMA) application has been submitted for the Hensoldt sale, but it is still with the Department of Public Enterprises and National Treasury for final approval.
In December 2022, Denel received approval to sell its Gear Ratio division, but as the buyer did not meet all the contractual obligations, Denel has gone back to market to find another buyer.
Partnerships and joint ventures
With regard to normalising existing partnerships and developing new ones, Kgobe said Denel is restoring productive relationships it has established. In the United Arab Emirates (UAE), the company is normalising the relationship with the Edge Group through its partnership with Barij Dynamics (Denel owns 49% of Barij Dynamics, and Edge the remainder). “We recently had a board meeting on partnerships. The Edge group plays a vital role in the UAE defence environment,” Kgobe said.
Denel is also pursuing the activation of the joint venture with the International Golden Group/Pioneer Land Systems in the UAE to access work in the vehicles and artillery domains where IGG is strong.
New partnerships are being developed in Turkey with Aselsan and Turkish Aerospace Industries for access to technology and markets. This includes on the Rooivalk attack helicopter and how Denel can position the Rooivalk into the future.
After the 2022 state visit to Saudi Arabia, Kgobe said Denel has revitalised its relationship with the Saudi defence sector, engaging with Saudi Arabia Military Industries (SAMI) and the General Authority for Military Industries (GAMI).
In July, Denel management supported and accompanied the Deputy Minister of Public Enterprises Obed Bapela as part of his visit to Brazil. Kgobe said Brazil has a requirement for some of the products Denel has.
With regard to the Seeker 400 unmanned aerial vehicle, Denel has been able to fly the system – notably at its mid-August Alkantpan demonstration – and in July met with the Chief of South African National Defence Force (SANDF) Defence Intelligence to align and move forward with operationalising the Defence Intelligence Seeker 400s at Air Force Base Waterkloof.
With regard to artillery systems, Kgobe highlighted a successful trial of the T5-52 self-propelled howitzer at Alkantpan last month, where nearly a dozen international participants came to witness the demonstration. He said there are big requirements around the world on such guns due to changing geopolitics. He said the successful Alkantpan trial, which saw 155 mm rounds fired over 60 km, “sparked a lot of interest internationally.”
Kgobe told the Public Enterprises committee that Denel is “making significant progress regarding export opportunities,” with a R30 bn opportunity pipeline locally and internationally. The company’s current annual order book is standing on R1.9 bn, with half of that secured.
For the SA National Defence Force, Denel is focussing on several critical issues in the short term, including C-130, Oryx and Rooivalk support; concluding phase 1 development of the Badger infantry fighting vehicle; restarting Project Kamas for A-Darter missiles; and delivering G5 and G6 artillery upgrades for the SA Army. (Source: https://www.defenceweb.co.za/)
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