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2012 revenues stable and contract activity robust for start of 2013
Financials reflect slowing defense market, but contract activity continuing
Boston, MA - March 19, 2013 - Financial reporting at the beginning of 2013 saw most companies in the defense sector unveiling largely stable revenue results for 2012 with only minor increases or declines year-on-year. The Strategy Analytics Advanced Defense Systems (ADS) service reports, "Defense Electronics Industry Review: January 2013," and "Defense Electronics Industry Review: February 2013," detail significant defense industry news, including product announcements, milestones, contract activity and defense industry financial performance for the beginning of 2013.
Company results reflected a slowing defense market, but contract activity was surprisingly good in January with new contracts across all sectors including radar, communications and EW. A number of international shows including IDEX and the Aero India exhibition in February provided the stage for companies to establish strategic relationships, form joint ventures and highlight their capabilities as well as sign major contracts.
"Boeing's financial performance was the exception with revenues growing 19 percent year-on-year." noted Eric Higham, ADS Service Director North America. "However, this was largely on the back of the company's commercial business."
"February deals included Saab partnering with Tawazun to create a new UAE-based radar company and Boeing and Elbit Systems signing a MoU leveraging Elbit's Directional Infrared Counter Measures (DIRCM) capabilities for Boeing's fixed and rotor platforms," said Asif Anwar Director of the ADS service at Strategy Analytics. "Other business activity included the O'Gara Group, completing its purchase agreement to acquire BAE Systems Commercial Armored Vehicles."
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