It hasn’t been a great few weeks for federal agencies responding to the SolarWinds Compromise. The Cybersecurity and Infrastructure Security Agency (CISA) has issued multiple directives for federal agencies to combat the damage. With so many agencies impacted by the compromise and more seemingly added daily, it’s clear that there’s work ahead to regain our nation’s cybersecurity defenses. As for the DoD, Acting Secretary of Defense Chris Miller said, “We have standard operating procedures in place that are very refined when an intrusion is noted or a potential intrusion so that we can monitor our networks and counteract anything.”
Layoffs Impacting the Defense Industry
| Raytheon | After losing a large contract, Raytheon announced plans to layoff 144 employees in Colorado Springs, CO. After Jacobs won the North American Aerospace Defense Command Integrated Space Support Contract in June, Raytheon made plans to begin layoffs. However, with Jacobs needing to fill 450 employees to fill the six year contract that supports classified communications, Raytheon expects many of the analysts, engineers, technicians, and support personnel to be able to transfer to the new program with Jacobs. |
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Hiring impacting the Defense Industry
| Epirus | Venture-backed Epirus provides drone capabilities in the defense industry. With an additional $70 million raised, the organization has plans as a supplier to Northrop Grumman to bring 100 jobs in 2021. “We’re aggressively hiring and expanding our footprint on the East and West coasts,” Epirus CEO Leigh Madden told Defense News. Epirus also makes a strategic move away from the west coast over to Tysons Corner, VA. |
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Opportunity to Watch
Lockheed Martin continues to strengthen its role within the DoD and other federal aviations with its acquisitions. With over 400 worldwide facilities and 110,000 employees, Lockheed Martin continues to be a leader in aeronautics and defense. Its acquisitions over the years have continued to expand the organizations reach and impact each year. Just this month, Lockheed Martin acquired Aerojet Rocketdyne, a defense industry supplier of propulsion systems for missiles, rockets, and other space and defense applications.
“Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base,” Chief Executive Officer Jim Taiclet said in the statement.
As a way to rapidly grow and remain poised to bid on defense contracts, Lockheed Martin has kept acquisitions as a key component of its growth strategy. Its space division is the organizations third-largest business.
