BAE SYSTEMS PLC S/ADR - BAESY STOCK NEWS

BAE Systems has inaugurated a $150 million engineering and production facility in Austin, Texas, aiming to double its workforce from nearly 700 employees. The 390,000-square-foot facility is designed for manufacturing, research, and development in advanced technologies such as autonomy and cyber solutions. BAE's expansion aligns with its strategic investments across the U.S., including locations in Manchester, Cedar Rapids, and Huntsville.

BAE Systems has been awarded a $6.5 million contract by DARPA for the COFFEE program, focusing on advanced filter technology for DoD Radio Frequency systems. This initiative aims to enhance the performance and robustness of RF systems against interference, especially in congested environments. The project is part of DARPA’s Electronics Resurgence Initiative, a significant investment in the U.S. semiconductor industry, totaling over $1.5 billion. BAE's FAST Labs will ensure the filters are manufacturable while maintaining high performance across a broad microwave frequency range.

BAE Systems has successfully designed, tested, and delivered essential components for the U.S. Air Force’s inaugural EC-37B Compass Call aircraft. This delivery sets the stage for developmental flight testing of the Baseline 3 configuration, expected to begin in January 2023. The upgraded Compass Call provides enhanced electronic warfare capabilities and is projected to undergo interim fielding by mid-2024. This platform is vital for disrupting enemy communications and suppressing air defenses, maintaining an edge over adversaries.

BAE Systems has secured a $13 million contract for its advanced Global Positioning System (GPS) technology designed to protect U.S. F-15E aircraft from jamming and spoofing. The Digital GPS Anti-jam Receiver (DIGAR) enhances GPS reliability in challenging environments. DIGAR's advanced capabilities include high-performance signal-processing and digital beamforming, necessary for high-speed aircraft. Additionally, BAE is investing over $100 million in a new 278,000-square-foot facility in Cedar Rapids, which will focus on military GPS technology development.

BAE Systems has secured a contract with Boeing for the production of additional Eagle Passive Active Warning Survivability Systems (EPAWSS) for U.S. F-15E and F-15EX aircraft, raising the total contract value to $351 million. This contract initiates Low Rate Initial Production (LRIP) lot 2, which will enhance the aircraft's situational awareness and self-defense capabilities. The success of previous software updates and field tests underscores BAE's ability to rapidly deliver advanced technology, bolstering the Department of Defense’s focus on F-15s.

BAE Systems plans to launch its first multi-sensor satellite cluster, Azalea^TM, into low Earth orbit in 2024. This innovative satellite cluster will utilize visual, radar, and radio frequency sensors, leveraging onboard machine learning for real-time intelligence delivery to military clients globally. Following their acquisition of In-Space Missions, BAE Systems enhances the UK's capabilities in space intelligence. The Azalea^TM cluster, featuring four adaptable satellites, aims to improve military operations and disaster response.

ElDorado National, a subsidiary of REV Group, has announced the development of next-generation zero-emission buses: the Axess Battery Electric Bus (EVO-BE) and Axess Hydrogen Fuel Cell Electric Bus (EVO-FC). The EVO-BE features a market-leading 738 kWh battery and the EVO-FC is designed for a range of up to 400 miles. Both models utilize the proven Axess platform, ensuring over 90% commonality for easier maintenance. Orders are now being accepted, with deliveries expected in 2023, highlighting the company's commitment to revolutionizing the transit bus industry with innovative emission-free technology.

The latest Astute class submarine, HMS Anson, was officially commissioned into the Royal Navy at BAE Systems' Barrow-in-Furness site. This 97-meter long, 7,800-tonne nuclear-powered submarine is the fifth in the Astute class, recognized for its advanced technology. The ceremony was attended by key dignitaries, including the UK Defence Secretary and Australian Deputy Prime Minister. BAE Systems has delivered four Astute submarines, with ongoing construction for the sixth and seventh. Additionally, the company is manufacturing the Dreadnought class submarines and progressing on the SSN-Replacement program.

BAE Systems has appointed Guy Montminy as the new senior vice president for finance, effective Sept. 5, 2022. Montminy, who previously held this role from 2014 to 2016, will oversee the financial operations of BAE's U.S.-based businesses, which generated nearly $12.5 billion in sales in 2021 and employ over 34,000 people across the U.S., U.K., and Sweden. He succeeds Scott Howat, who is leaving the company for personal reasons. Montminy holds advanced degrees in accountancy and business administration.