Harris Corporation announced that they have been awarded a two-year full rate production contract by the United States Navy to deliver key avionics components. The contract which is worth around USD$29 million, will deliver components that will improve flight crews’ targeting capabilities on the US Navy's and Australia's F/A-18 E/F Super Hornet fighter aircraft and EA-18G Growler electronic attack platform. Read more >>

At the start of August, the United States Marine Corps’ CH-46 Sea Knight medium-lift assault helicopter has officially been retired from service after completing its last flight, conducted by Reserve Marine Medium Helicopter Squadron (HMM) 774. Manufactured by Boeing and commonly known as the Phrog, the CH-46 Sea Knight helicopter served the US Navy and USMC medium-lift assault community. Read more >>

After winning the bid in the Joint Strike Fighter competition nearly 15 years ago, the first squadron of Lockheed Martin F-35B Joint Strike Fighters has been cleared for active combat by the US Marine Corps. The F-35B is the short take-off and vertical-landing (STOVL) variant of the platform. Read more >>

The Tokyo-based multinational conglomerate Toshiba has found itself in the middle of one of Japan’s largest accounting scandals. This scandal arose after accusations that the chief executives of Toshiba have driven the company to overstate its earnings over the last seven years by $1.2 billion. This billion dollar amount is equivalent to almost a third of Toshiba’s pretax profits that they reported during this seven year time span. In many people’s eyes, Toshiba’s chief executives were held in high regard as civic leaders, as the company was thought to have had combined profitability with modern governance. Read more >>

Rockwell Collins has successfully performed the first live, risk-reduction flight utilizing production fit, form, and function F/A-18 ground and airborne equipment from the Common Range Integrated Instrumentation System (CRIIS). This flight took place at the Atlantic Test Range (ATR) at Patuxent River, Maryland. Read more >>

Lockheed Martin has successfully engaged two laser-designated stationary targets with advanced laser-guided joint air-to-ground missiles (JAGM) during recent test flights at Eglin Air Force Base in Florida. During the first flight test, the missile flew for 2.5 miles until it identified the target using its semi-active laser for precision strike, ultimately hitting the stationary target. Read more >>

The United States Navy has awarded BAE Systems a contract to carry out phased maintenance for the USS Iwo Jima (LHD7), a Wasp-class amphibious assault ship. This contract is valued at $26.8 million, with possible additional options which if exercised, would potentially raise the total value of the contract to $32.6 million. Under the contract, BAE Systems will be expected to perform a wide range of services including ship alterations, habitability upgrades, repairs to auxiliary and ventilation systems, as well as carrying out tank and structural repairs and preservation. The beginning of the phased maintenance will start on August 31 of 2015, with the end date of the maintenance expected to be on July 1 of 2016. Read more >>

IBM announced on Wednesday, July 8, 2015, that they built a prototype test processor that will significantly increase computer circuitry power. The chip is currently just a research and development project rather than a finished product. However, the prototype is important because it extends Moore’s Law in that it shows that computing power will continue its steady progress. IBM’s work makes miniaturize chips feasible, enabling devices like smartwatches and perhaps even augmented-reality contact lenses. Read more >>

In July 2015, Korea’s largest manufacturer Samsung announced their estimated operating profit at $6.9 trillion won (USD$6.1 billion), which is lower than the expected $7.2 trillion but higher than the $6 trillion won during January through March. Profits are down by about 4% from the same time last year and sales declines nearly 8% to $48 trillion won, which was below the $52.8 trillion won forecast. Read more >>

At the end of June 2015, Microsoft announced that they will be handing over their display advertising business to AOL Inc. and in addition, sell some of its map-generating technology to ride-hailing app company Uber. Uber will also gain about 100 employees from Microsoft that are focused on the product’s image collection activities. Those employees in the display ad business will be offered the chance to transfer to AOL and were promised they would not be laid off. Read more >>