NEW YORK, Oct. 8, 2020 /PRNewswire/ -- According to data compiled by Strategic Defence Intelligence, the U.S. spent over USD 639 Billion in 2018 for its defense budget. By 2023, the U.S. defense expenditure is expected to reach approximately USD 742 Billion while growing at a CAGR of 1.98% during the forecast period. The current presidential administration is friendly to the military and defense contractors and promotes the stance on increasing military defense spending. Additionally, the Department of Defense spending is set to grow by 9% in 2018 from the year prior, Blackrock said in a blog post. "The 2019 National Defense Authorization Act was passed at its swiftest pace in 20 years, up to USD 717 Billion (a 12% increase from 2017). Even after the 13% quarter-to-date decline in the Dow Jones U.S. Aerospace & Defense Index (as of October 29th), the industry group is still up 46% since 2016 Election Day and remains the purest way to play any change in defense spending outlook," Blackrock said. Defense Metals Corp. (OTC: DFMTF) (TSX-V: DEFN), Lockheed Martin Corp. (NYSE: LMT), Raytheon Technologies Corporation (NYSE: RTN), The Boeing Company (NYSE: BA), General Dynamics Corp. (NYSE: GD).
As a percentage of GDP, the U.S.'s defense expenditure is expected to be approximately 3.1% during the same period. While the United States holds the largest budget for defense technology, it is also the largest exporter of defense equipment in the world. The U.S. are also expected to continue to remain the largest importers, due to increased defense budgets in allied countries such as Saudi Arabia, UAE, Turkey, India, South Korea, Singapore, the U.K. and Japan. "What changes are likely in military technology over the next 20 years? This question is fascinating on its own terms. More importantly, answering it is crucial for making appropriate changes in U.S. and allied weaponry, military operations, wartime preparations, and defense budget priorities," said Michael O'Hanlon, Director of Research at Brookings.
Andrew Leland commented that:
"There has never been a more pressing time than now for the United States of America and its allies to secure Rare Earth Elements from safe, reliable and friendly countries."
Mr. Leland, Systems Engineer (Science and Technology/Innovation focus) with Lockheed Martin since 2017, directly support's a Special Operation customer's innovation cell, which identifies innovation needs of the Special Operation's enterprise, finds solutions, partners with strategic partners, and enables transition to acquisition programs of records.
Mr. Leland earned his commission in US Army in 1998 as a graduate of the Reserve Officer Training Corps program at Norwich University. He served as an US Army Air Defense Officer focused on Short Range Air Defense for eight years, and has participated in multiple combat tours supporting Operation Enduring Freedom and Operation Iraqi Freedom (OEF/OIF) operations in Saudi Arabia, Qatar, and Iraq. After leaving the service in 2006, Mr. Leland has been employed with companies across both industry and defense contracting sectors. Mr. Leland's bio: https://www.linkedin.com/in/andrew-leland-764a3b8
Craig Taylor, Chief Executive Officer and Director of Defense Metals comments:
'Mr. Leland brings a wealth of experience and strategic know-how, through his experience with Lockheed Martin and several other major US defense contractors. These relationships will be instrumental in helping Defense Metals find partnerships, secure potential offtake agreements, and other business opportunities. He is very familiar with working with high-level government and military personnel as well as corporate and technology executives which will provide an enormous advantage for Defense Metals moving forward. We are excited to work with Andrew and know he will add tremendous value to our team.'
Wicheeda REE Project
The Wicheeda REE project has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO.
About Defense Metals Corp.: Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of "GREEN" energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol "DEFN" on the TSX Venture Exchange, in the United States, under "DFMTF" on the OTCQB and in Germany on the Frankfurt Exchange under "35D".
Lockheed Martin Corp. (NYSE: LMT) announced on September 1st, that it was awarded a Tranche 0 contract of the Space Transport Layer by The Space Development Agency. Lockheed Martin will demonstrate a mesh network of 10 small satellites that links terrestrial warfighting domains to space sensors – all launching in just two years. "We see a world across all warfighting domains where fourth and fifth-generation fighters and tactical forces on the ground can connect seamlessly with holistic situational awareness," said Kay Sears, vice president and general manager of Lockheed Martin Military Space. "Interoperability and battlespace connectivity are critical to staying ahead of our adversaries."
Raytheon Technologies Corporation (NYSE: RTN) announced on March 30th, it will produce and deliver SM-3® Block IB interceptors under a USD 2.1 Billion, multi-year U.S. Missile Defense Agency contract. It is the first multi-year contract for the SM-3 program, and covers fiscal years 2019–2023. "This procurement deal is a win-win for government and industry," said Dr. Mitch Stevison, Raytheon Strategic and Naval Systems vice president. "Efficiencies gained from this contract will allow us to reduce costs, continue to improve the SM-3 and deliver an important capability to our military."
The Boeing Company (NYSE: BA) announced on October 1st, has received one of three development contracts to build a satellite payload prototype and develop a new secure, resilient satellite communications architecture for the U.S. Space Force's Evolved Strategic SATCOM (ESS) program. "We have worked closely with the Space Force to define a program responsive to our nation's needs," said Troy Dawson, vice president of Boeing Government Satellite Systems. "By leveraging our expertise in digital engineering and technologies with synergies across both our government and commercial systems, we're uniquely positioned to deliver solutions needed to address the ever-evolving threats."
General Dynamics Corp. (NYSE: GD) business unit, General Dynamics Information Technology (GDIT) announced on October 6th, it was awarded an IT system modernization contract by the Defense Intelligence Agency (DIA). GDIT will provide worldwide engineering support to DIA's core IT infrastructure to include system design, architecture, testing plans, and security accreditation. "GDIT is excited to continue our 35-year relationship supporting DIA and their complex national security mission. The ISEE award is a true testament to GDIT's ability to develop and deliver enterprise IT Infrastructure solutions at scale," said Deb Davis, Vice President and General Manager, Mission Solutions and Service Sector for GDIT's Intelligence & Homeland Security Division. "As a mission support leader and trusted partner for DIA's IT backbone, we look forward to supporting the ongoing modernization of the DoDIIS Enterprise."
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