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BAE Bags $212.12M U.S. Navy Contract
The US Department of Commerce is finalizing subsidies of nearly 60 million dollars to BAE Systems and Rocket Lab.
According to Reuters on November 25th, the US Department of Commerce stated on Monday that it is finalizing nearly $60 million in government subsidies to be provided to BAE Systems and Rocket Lab. Of this, the US Department of Defense will provide $35.5 million to BAE Systems to quadruple its key semiconductor chip production in New Hampshire, which will be used for the F-35 fighter jets and commercial satellites. The Department of Commerce stated that this investment will shorten the company's planned modernization schedule by half. The Pentagon plans to spend $1.7 trillion on the F-35 project, including purchasing over the next few decades.
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