Latest news with #Thaad
Wall Street Journal
5 days ago
- Politics
- Wall Street Journal
Israel's 12-Day War Revealed Alarming Gap in America's Missile Stockpile
TEL AVIV—The U.S. has seven high-end Thaad missile-defense systems. During the 12-day war with Iran in June, two were deployed to Israel—and it wasn't enough. Operating alongside Israeli systems, Thaad operators burned through munitions at a furious clip, firing more than 150 missiles to shoot down the waves of Iranian ballistic missiles, according to U.S. officials. That is nearly a quarter of the interceptors ever purchased by the Pentagon.
Hindustan Times
5 days ago
- Business
- Hindustan Times
The West's Insatiable Demand for Missiles Is Boosting U.S. Weapons Makers
It's a good time to be in the missile-making business. A Lockheed Martin Thaad interceptor system was included in an event at the White House in 2019. Western companies that build missiles, including offensive rockets and defensive interceptors, say they are fielding a surge in new orders. Heavy demand for Patriot antimissile arrays, Thaad interceptors and Sidewinder missiles is keeping defense contractors from Lockheed Martin to RTX busy while some other business lines stumble. Lockheed Martin on Tuesday reported an 11% increase in second-quarter sales within its missiles and firing control division, which makes Patriot air-defense missiles and high-end Thaad interceptors. Revenue rose 8% at RTX's Raytheon unit, powered by higher sales of its Patriot equipment and of Nasams, another surface-to-air missile system. The U.S. Army asked Lockheed to quadruple production of its PAC-3 missiles for Patriot batteries. The company said it expects backlogged orders for its weaponry to hit a record later this year. The backlog at Raytheon swelled to $63.5 billion at the end of June, nudged higher by Navy contracts for new ship-fired SM-3 projectiles and AIM-9X Sidewinder missiles. 'The demand is very durable,' said RTX finance chief Neil Mitchill, citing continuing talks with European customers. 'That's why we're investing. These are very complicated products and many require a long lead time.' The U.S. has been hoarding missiles for several years to strengthen its position in the Pacific region against China. But protracted fighting in Ukraine and the Middle East have drawn down Western missile supplies, according to Wes Rumbaugh, a fellow at the missile defense project at the Center for Strategic and International Studies. A Nasams surface-to-air missile launcher sat on a production floor in Norway in 2023. 'A lot of the spike in the demand recently that has stressed the U.S. industrial base is the pop up of conflicts that they weren't expecting,' he said. 'They're sending a very strong short-term signal. The long-term question is whether or not those investments will translate into sustainable funding.' The missile boom offers a contrast with other areas of the U.S. defense-industrial complex that are struggling to get off the ground. Lockheed surprised investors Tuesday by booking $1.8 billion in write-downs from big-budget jet-fighter and helicopter programs. The biggest loss came from a contract in the company's secretive Skunk Works unit, which designs advanced aircraft and other weaponry. The same program booked a $555 million loss last year. Aircraft makers are wrestling with changing orders and costly research and development overruns. Shipbuilders are finding it hard to keep construction costs in check. Drone warfare is changing the way countries around the world equip their armies. Still, the stepped-up demand for missiles is giving a jolt to the entire supply chain. Defense contractor Northrop Grumman said Tuesday it expects to pump out 25,000 solid rocket motors a year by 2029, up from 13,000 units today. Europe's largest missile maker, MBDA, has proven lucrative for its three listed owners, BAE Systems, Airbus and Leonardo. MBDA now represents 13% of BAE's $44.5 billion order book, up from 6.5% in 2021, just before Russia's full-scale invasion of Ukraine. In the first quarter of this year, growth for Norwegian technology company Kongsberg was mainly driven by increased delivery volumes for missiles—and defenses against them. Kongsberg's order backlog for missiles and air-defense systems now totals more than $8.4 billion, with sales of a naval strike missile to the U.S. being particularly lucrative. Missile makers could reap another windfall from the Trump administration's Golden Dome for America antimissile shield project. The president called for an extensive buildup of air and space defenses to protect the U.S. against ballistic missiles and newer threats such as hypersonic weapons. The Defense Department hasn't detailed the high-level design of the antimissile shield, but Trump's call for an operational system by the end of his term could end up boosting companies such as Lockheed, RTX and others ready to field more missile interceptors on short notice. Write to Drew FitzGerald at
The National
03-07-2025
- Business
- The National
Saudi Arabia inaugurates first battery of Thaad air defence system
Saudi Arabia has inaugurated its first battery of the US-made Terminal High Altitude Area Defence (Thaad) missile system, state media reported on Thursday. The deployment of the system, which can intercept ballistic missiles inside and outside the atmosphere, is part of a broader defence project aimed at boosting the kingdom's air defence capabilities and ensuring the protection of vital strategic infrastructure and national interests, the Saudi Press Agency reported. A ceremony was held at the Air Defence Forces Institute in Jeddah, following the successful completion of system testing, evaluation and field training of personnel in Saudi Arabia, SPA said. Saudi Arabia becomes the second Gulf country after the UAE to deploy the Thaad system. The Emirates in 2011 became the first nation outside of US to obtain the missile defence system, purchasing two batteries that became operational in 2016. Qatar will also be acquiring the Thaad system, US President Donald Trump said during a visit in May as part of a regional tour that included Saudi Arabia and the UAE. He said the purchase was part of a deal worth $42 billion to supply Qatar with US military hardware. The US Department of Defence confirmed a deal to sell Saudi Arabia the Thaad system in 2019, as part of a $110 billion arms deal signed during the first Trump administration. Under an agreement announced in 2022 with US defence contractor Lockheed Martin, Saudi Arabia will manufacture interceptor launchers and canisters for Thaad batteries. No timetable was given for the start of production. The US deployed two Thaad batteries to Israel in October last year, with the system reportedly used during the recent 12-day war with Iran. The Thaad system is also being used in South Korea, Japan and Taiwan to protect against the threat from North Korean missiles.
Malaysian Reserve
27-05-2025
- Business
- Malaysian Reserve
Tencent increases Korea music exposure ahead of China K-Pop move
TENCENT Holdings Ltd. is snapping up a nearly 10% stake in SM Entertainment Co. Ltd valued at about $180 million, marking a rare Chinese investment into a South Korean company in recent years. Tencent will buy the stake from BTS-agency Hybe Co Ltd., which is selling its remaining 2.2 million shares in SM Entertainment at 110,000 won each, a 15.3% discount to Tuesday's close, according to a regulatory filing. The move comes as China is widely expected to lift its nearly decade old unofficial ban on K-pop performances in mainland China. That potentially opens South Korean companies such as SM Entertainment to resume music distribution through the relationship with Tencent. Before the restrictions, China was among the fast growing markets for K-pop. China imposed the so-called 'K-wave ban' in 2016 in retaliation for South Korea allowing the US military to deploy missile defence system called Thaad, or Terminal High-Altitude Area Defense, in its soil. Tencent, China's gaming and social media leader, was not available for an immediate comment. For Tencent, the deal would mark its first major investment in South Korea's music industry in years. It owns a 4.3% stake in YG Entertainment Inc. and a 5.95% holding in Kakao Corp., South Korea's biggest Internet company which is also the largest shareholder of SM Entertainment. The selldown will bring an end to the bitter battle for the control of SM Entertainment. Hybe and Kakao Corp sought to buy SM Entertainment in 2023, in what would have been one of the country's biggest media sector deals. But Hybe dropped its pursuit of SM after the bidding war pushed up the SM stock price and making it too expensive. The deal also resulted in Kakao founder Brian Kim getting caught up in the regulatory cross hairs, over charges that he allegedly tried to manipulate the SM Entertainment shares. Kim has repeatedly denied any wrongdoing. South Korean entertainment stocks have been among the biggest gainers in the Korean equity market this year, driven by expectations they will be shielded from tariff wars. The rally is also underpinned by expectations of China lifting its K-pop ban. SM Entertainment shares have rallied 72% so far this year while YG Entertainment Inc. jumped 77%. Hybe said in a statement it divested non-core assets and the proceeds will be used to fund future growth. –BLOOMBERG
Yahoo
21-05-2025
- Business
- Yahoo
Trump rolls out Golden Dome missile defense project and appoints leader
Donald Trump announced on Tuesday that his administration will move forward with developing the so-called 'Golden Dome' missile defense system that he envisions will protect the United States from possible foreign strikes using ground and space-based weapons. Flanked by the US defense secretary, Pete Hegseth, in the Oval Office, Trump also said that he wanted the project to be operational before he left office. He added that Republicans had agreed to allocate $25bn in initial funding and Canada had expressed an interest in taking part. 'Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world, and even if they are launched from space,' Trump said, 'forever ending the missile threat to the American homeland.' Related: US army parade could cost up to $45m and involve 6,600 soldiers What exactly the Golden Dome will look like remains unclear. Trump has not yet decided which of three options proposed by the defense department he wants to pursue. Pentagon officials recently drafted three proposals – small, medium and large – for Trump to consider. The proposals all broadly combine ground-based missile interceptors currently used by the US military with more ambitious and hi-tech systems to build a space-based defense program. The option that Trump chooses will determine its timeline and cost. The $25bn coming from Republicans' budget bill is only set to cover initial development costs. The final price tag could exceed $540bn over the next two decades, according to the congressional budget office. Trump said on Tuesday evening that he had settled on 'architecture' for the project and suggested the total cost of putting it into service would reach $175bn, but gave no specifics. Gen Michael Guetlein of the US Space Force will oversee implementation of the project, Trump said. The selection of Guetlein, the vice-chief of space operations, means the elevation of a four-star general widely seen at the Pentagon to be competent and deeply experienced in missile defense systems and procurement. The project is expected to end up largely as a partnership with major defense contractors, including Elon Musk's SpaceX, given it has the capacity to manufacture rockets to launch military payloads into orbit and satellites that can deliver next-generation surveillance and targeting tools. It will also rely on companies that manufacture ordnance currently used by the US military. The project's baseline capabilities are set to depend on existing systems including the Thaad and Aegis Ashore systems made by Lockheed Martin and Patriot surface-to-air missiles made by Raytheon. Golden Dome came into existence because Trump believes that the US should have a missile defense program to track and kill missiles headed towards domestic US targets, possibly sent by China, Russia, North Korea or other strategic foreign adversaries, similar to Israel's 'Iron Dome' program. Shortly after he took office again in January, Trump signed an executive order directing the Pentagon to develop proposals for a 'next-generation missile defense shield' in order to upgrade the US's missile defense capabilities, which he noted had not materially changed in 40 years. The order came as the defense department has become more concerned about the threat of long-range strikes from strategic adversaries. Last week, the Defense Intelligence Agency released an assessment that said China has about 400 intercontinental ballistic missiles, Russia has 350 and North Korea has a handful. Initially, the White House had named the options for a space-based missile defense system 'Moonshot Plus' and 'Moonshot Plus Plus'. They were later renamed by Hegseth to be called silver, gold and platinum-dome options based on the three tiers, two former Pentagon officials said.
