Catch me up

Leidos reported a record $4.56 billion quarter, driven by its strong defense business, with a 7% increase in Q2 revenue and a funded backlog up 44% year over year. The company's performance is a significant development in the defense industry, and its raised full-year revenue and earnings guidance indicates a positive outlook. This growth is likely linked to various defense programs and contracts, including the Trump-class battleship program, which is estimated to cost $275 billion, with the first ship expected to cost $23.4 billion.

In other defense news, the Pentagon has appointed a new director for the Maven Smart System program, aiming to integrate it with command and control systems. The Army is also integrating advanced AI into its C2 technology, utilizing modernized algorithms and edge computing to empower commanders. Additionally, the US Marine Corps' new amphibious assault vehicles will be equipped with jammers to defeat unmanned aerial systems, as part of an effort to counter the growing threat of drones.

The day also saw developments in space technology, with Rocket Lab successfully launching a Japanese radar-imaging satellite, the 8th iQPS satellite, after a previous launch attempt was aborted. Meanwhile, Chinese launch startup Orienspace is preparing for an IPO and has secured funding for its reusable Gravity-2 rocket. Taiwan's Ministry of National Defense is also incorporating lessons from the US-Iran conflict into its defense planning, aiming to enhance Taiwan's military capabilities and preparedness.

The Pentagon has removed decades of weapons testing publications from its public website, citing concerns that adversaries could exploit the data using artificial intelligence. In production news, the Hero-120 has achieved a significant production milestone with the U.S. Army, marking a key step forward in its development and potential deployment. These developments highlight the ongoing efforts to advance defense technologies and capabilities, as well as the need to address potential security risks and adapt to changing geopolitical landscapes.