AgustaWestland Invokes Arbitration In The VVIP Helicopter Deal After “No Response From...

October 4, 2013 @ 03:41 PM

AgustaWestland has invoked arbitration over the contract to supply AW101 VVIP helicopters to India, the company announced in a statement. Earlier this year, India froze payments worth $762 million to supply 12 VVIP helicopters after the Finmeccanica CEO was arrested in connection to the bribery scandal in February

Turkey Aiming $2 Billion Export Sales By 2016

August 29, 2013 @ 12:15 PM

Turkey is aiming for $2 billion in defence exports sales and $4 billion in domestic production by 2016. As various national made-in-Turkey programs reach serial production stage after 2016, Turkey will reach for an ambitious defense and aerospace export target of $25 billion in 2023, Latif Aral Alis, chairman of Turkeys...

Sales To China, Thailand Bring In Big Profits For UkrOboronProm

August 7, 2013 @ 02:18 PM

Ukraine-based weapons manufacturer UkrOboronProm today revealed its first half profits rose 520 percent to $51.2 million compared with last years $12

Weak Indian Prosecution May Help Former Finmeccanica Executives in AgustaWestland Bribery Trial

August 2, 2013 @ 01:20 PM

The Indian Central Bureau of Investigation (CBI) not arresting former IAF chief SP Tyagi and his cousins may help the defense argument in the trial against previous Finmeccanica executives Giuseppe Orsi and Bruno Spagnolini in an Italian court. The CBI has been investigating the alleged payment of bribe in the...

Spain To Sell Half Its A400M Fleet After Budget Cuts

July 30, 2013 @ 01:00 PM

The Spanish government has decided to sell 13 of 27 A400M aircraft it is scheduled to receive from Airbus Military following significant defence cutbacks in some major procurement programs. “Contractually, Spain has to take all of the 27 A400Ms it has ordered,” a spokesman for Airbus Military was quoted as saying...

New Delhi Seeks French Sovereign Guarantee To Fulfill MMRCA Deal: Reports

July 29, 2013 @ 02:09 PM

Citing Dassault Aviations current fiscal state as a cause for concern, New Delhi has sought sovereign guarantee from Paris to fulfill the MMRCA deal to supply India with 126 Dassault Rafale aircraft. Since winning the deal in early 2012, negotiations have been going on for the past 18 months

Le Drian Meets With Indian Counterpart, Pushes For Rafale Deal

July 26, 2013 @ 01:58 PM

On an official visit to India, French Defense Minister Jean-Yves Le Drian met with his Indian counterpart to discuss “regional and international security challenges of mutual interest”. On top of the agenda was the sale of 126 Rafale combat aircraft to India and the security situation in the Afghanistan-Pakistan region

Bankrupt Greece Buying F-16 Engine Spares

July 12, 2013 @ 02:13 PM

Even as waves of protests sweeps across the country against the governments austerity measure, the Greek military has ordered spares of F-16 engines worth $250 million. Greece will purchase F100-PW- 229 engines for the Hellenic Air Force F-16 aircraft, and associated equipment through a Foreign Military Sale from the U

UK, Japan Sign Defense Framework Agreement

July 5, 2013 @ 02:16 PM

The UK and Japanese governments have signed a Defence Equipment Cooperation Framework and an Information Security Agreement. The British Foreign Secretary, William Hague, and His Excellency Mr Keiichi Hayashi, Ambassador of Japan to the United Kingdom, today signed 2 agreements which will create a legal framework for closer co-operation between the 2 countries on defence and security

Asia Pacific Defense Budget At Peak: Reports

June 25, 2013 @ 02:35 PM

Asia Pacific budgets are set to outstrip USA and Canada by 2021, fuelled by an explosion in global arms trade that threatens the competitive edge and dominance of US, UK and European defence trade according to the biggest budget and export study since the economic downturn. The study, The Balance of Trad, is presented to clients on 25 June by IHS Inc

Turkey To Integrate Chinese Defense System Into NATO Architecture

June 25, 2013 @ 10:01 AM

Turkey plans to adopt a Chinese long-range anti-missile and air defense system, Turkish procurement officials said, even though it may be impossible to integrate the system with its existing NATO architecture. One senior procurement official familiar with the program said the Turkish government has concluded that the Chinese proposal was technologically satisfactory, allowed technology transfer and was much cheaper than rival proposals

UK Defense Exports Increase In Last Five Years

June 21, 2013 @ 05:19 PM

UK Defense exports went up by 62 per cent since 2011 in a global market that grew by 45%, according to UK Trade & Investments Defence and Security Organisation (UKTI DSO). These results mean the UK maintains its position as the second most successful defence exporter after the United States, according to the study