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WHARTON, N.J. - BAE Systems (LON: BA), a prominent player in the Aerospace & Defense industry with a market capitalization of $151 billion and current stock price of $200.26, has entered into a Cooperative Research and Development Agreement (CRADA) with the U.S. Army Combat Capabilities Development Command Armaments Center to further develop the M109-52 Self-Propelled Howitzer prototype, according to a company press release. According to InvestingPro analysis, the company appears to be trading above its Fair Value.
The agreement aims to enhance long-range fires capabilities and improve artillery systems currently used by soldiers in operations. The M109-52 prototype is described as providing a low-risk technical solution with a lower-cost approach to deliver core warfighting capabilities.
"We are working with DEVCOM-AC to continue modernizing the U.S. Army’s long-range precision fires needs," said Dan Furber, artillery product line director for BAE Systems’ Combat Mission Systems business.
The CRADA builds upon previous testing performed independently by both organizations to create a faster development pathway for new artillery capabilities and upgrades to the M109A7 Paladin.
Work on the M109-52 will take place at Picatinny Arsenal and several BAE Systems facilities across the United States, including locations in Alabama, Oklahoma, Minnesota, Michigan, and Pennsylvania.
The partnership represents an extension of ongoing modernization efforts for U.S. Army artillery systems, focusing on enhancing capabilities of the existing Paladin platform.
In other recent news, Boeing has been in the spotlight following several developments. The Directorate General of Civil Aviation in India found no significant safety issues with Air India’s Boeing 787 fleet after conducting a safety review. This comes in the wake of a tragic crash involving an Air India 787 Dreamliner, which resulted in at least 271 fatalities. In response to the crash, India’s aviation regulator requested training records from Air India to aid in its investigation. Meanwhile, Boeing and the Royal Australian Air Force successfully demonstrated control of uncrewed MQ-28 Ghost Bat aircraft from an E-7A Wedgetail, marking a significant advancement in integrating uncrewed systems with military platforms. Additionally, Air France-KLM CEO Ben Smith expressed confidence in the Boeing 787 Dreamliner, despite the recent crash, highlighting that KLM operates 34 of the aircraft. Furthermore, Boeing’s stock has been sensitive to these events, with shares experiencing fluctuations. Lastly, India’s aviation regulator has directed Air India to conduct safety inspections on its Boeing 787 fleet.
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