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BOEING REPORTS SECOND-QUARTER RESULTS
Wednesday, July 26, 2017
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Boeing Saab T-X Trainer

Source: Boeing


Boeing Saab T-X Trainer

Source: Boeing


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CHICAGO - For the second quarter of 2017, Boeing reported sales of $22.7 billion, down 8 percent from sales of $24.7 billion in the second quarter of 2016. Net income for the quarter was $1.8 billion compared to a loss of $234 million a year ago.

"In the second quarter, we added to our large and diverse order backlog with key wins in commercial airplanes, defense, space and services, while achieving important milestones such as delivering the first 737 MAX airplane, flying the second production-ready T-X trainer aircraft, and conducting a successful Ground-based Midcourse Defense intercept test," said Chairman, President and Chief Executive Officer Dennis Muilenburg.

"As we look to the second half of the year, our teams are focused on accelerating productivity, quality and safety improvements across the company, while completing key development efforts and delivering better capabilities and economics to our customers."

Total company backlog at quarter-end was $482 billion, up from $480 billion at the beginning of the quarter, and included net orders for the quarter of $27 billion.

INDUSTRY SEGMENTS

Commercial Airplanes

Commercial Airplanes second-quarter revenue was $15.7 billion (2Q16: $17.4 billion) on planned production rates and timing of deliveries. Second-quarter operating income was $1.6 billion compared to a loss of $973 million in the second quarter of 2016. Operating margin was 10.0 percent, reflecting solid execution.

During the quarter, Commercial Airplanes delivered the first 737 MAX 8 aircraft and announced the launch of the 737 MAX 10. Demand continues to be healthy with 571 incremental orders and commitments announced at the Paris Air Show, including 56 for widebody aircraft and 361 for the launch of the 737 MAX 10. Also at the Paris Air Show, a number of commercial service agreements were announced that provide further growth opportunity for Boeing Global Services.

Commercial Airplanes booked 183 net orders during the quarter (2Q16: 199). Backlog remains robust with more than 5,700 airplanes valued at $424 billion.

Defense, Space & Security

Defense, Space & Security second-quarter revenue was $6.9 billion (2Q16: 7.2 billion). Second-quarter operating income was $890 million compared to $593 million in the second quarter of 2016. Second-quarter operating margin increased to 12.9 percent, reflecting increased productivity in all three segments.

Boeing Military Aircraft (BMA) second-quarter revenue was $2.9 billion (2Q16:$3.0 billion), reflecting lower planned C-17 deliveries, and operating margin increased to 13.2 percent on improved performance. During the quarter, BMA was awarded a contract for the remanufacture of 38 AH-64E Apache helicopters for the United Kingdom, and the second production-ready T-X aircraft completed first flight.

Network & Space Systems (N&SS) second-quarter revenue was $1.7 billion (2Q16:$1.8 billion), reflecting timing of satellite volume. Operating margin increased to 9.1 percent reflecting improved performance. During the quarter, N&SS was awarded a contract from the Missile Defense Agency for Redesigned Kill Vehicle Development.

Global Services & Support (GS&S) second-quarter revenue was $2.3 billion (2Q16:$2.4 billion), reflecting timing of contracts. Operating margin increased to 15.4 percent reflecting strong performance. During the quarter, GS&S was awarded a contract from the Defense Logistics Agency to support the F-15 fleet, which will be carried out by Boeing Global Services.

Backlog at Defense, Space & Security was $58 billion, of which 37 percent represents orders from international customers.

Source:  Forecast International Government & Industry Group
Associated URL: www.boeing.com
Source Date: July 26, 2017
Author: R. Pettibone, Gov't & Industry  
Posted: 07/26/2017

 
 
VECTOR AEROSPACE COMPLETES FIRST CRFT TEST
Wednesday, July 26, 2017
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Crash-Resistant Fuel Tank (CRFT)

Source: Vector Aerospace


Crash-Resistant Fuel Tank (CRFT)

Source: Vector Aerospace


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LANGLEY, BC - Vector Aerospace and Robertson Fuel Systems have successfully flight tested their Crash-Resistant Fuel Tank (CRFT) on an Airbus AS350 helicopter. The flight test follows a successful 50-foot drop test. The retrofittable upgrade will be able to withstand impact without leakage, thus preventing post-crash fires. The companies are working towards a late 2017 FAA STC target date.

The upgrade will serve as a direct replacement for all AS350 models, and the EC130 B4. The design features a crash-resistant fuel bladder, a magneto-resistive fuel quality transmitter, and may include an Onboard Systems cargo swing solution as a compatible option.

Following a number of high profile, deadly post-crash helicopter fires, pressure from the media and regulatory agencies has opened up the helicopter retrofit CRFT market.

Source:  DOD
Associated URL: http://www.adsadvance.co.uk/vector-completes-first-as350-crft-flight-test.html
Source Date: July 26, 2017
Posted: 07/26/2017

 
 
LOCKHEED MARTIN AWARDED MH60R/S AVIONICS RETROFIT CONTRACT
Monday, July 24, 2017
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Source: Lockheed Martin


Source: Lockheed Martin


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PENTAGON - Lockheed Martin Rotary Mission Systems, Owego, New York, is being awarded $13,020,974 for firm-fixed-price delivery order N0001917F4001 against a previously issued basic ordering agreement (N00019-14-G-0019) in support of the Navy and the government of Australia. This order provides for non-recurring efforts required to modify, test, and qualify the MH60R/S avionics smart multi-function display (SMFD); common avionics multi-function display (CAMFD); and control display unit (CDU) weapons replaceable assembly to address diminishing manufacturing sources and material shortages. This order also provides for the procurement of eight SMFD test assets, seven CAMFD test assets, and seven CDU test assets.

Work will be performed in Owego, New York, and is expected to be completed in November 2019.

Fiscal 2016 aircraft procurement (Navy); and foreign military sales funds in the amount of $13,020,974 are being obligated on this award, none of which will expire at the end of the current fiscal year. This order combines purchases for the Navy ($11,034,212; 85 percent); and the government of Australia ($1,986,762; 15 percent) under the Foreign Military Sales program. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.

Source:  DOD
Associated URL: https://www.defense.gov/News/Contracts/Contract-View/Article/1256248/
Source Date: July 24, 2017
Posted: 07/25/2017

 

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