Aerospace/Defense. (Barely Making the Grade).Year in Review: Local employment fell to 108,000 from 113,700 at the beginning of 2001. Most losses were attributed to the commercial jet market... Boeing already had been hurt by increased competition from Airbus and it took another big hit after the Sept. 11 attacks. It laid off 1,200 at its Long Beach-based 717 operation and instituted a 50 percent production cut, to 12 planes per year beginning in 2002... By contrast, Northrop had a great year; it was part of the Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. team that won the $200 billion Joint Strike Fighter A strike fighter is a fighter aircraft which is also capable of attacking surface targets, including ships. It differs from an attack aircraft in that the aircraft remains a capable fighter. contract -- a deal that potentially could pump $30 billion to $40 billion into its Air Combat Systems operation between now and 2040. It also has acquired the Newport News Newport News, independent city (1990 pop. 170,045), SE Va., on the Virginia peninsula, at the mouth of the James River, off Hampton Roads, near Norfolk; inc. 1896. shipbuilding operations. Players to Watch: Northrop will be the most active aerospace company locally. It has a 20 percent stake in designing the aft and center fuselages, as well as navigation equipment, for 3,000 Joint Strike Fighters (F-35)... Raytheon Co. of El Segundo El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and has a slew of warfare projects in the works, including the radar system for Boeing's Navy F/A-18 jet fighter Jet fighter may refer to:
Buzz for 2002: Northrop will add as many as 1,200 jobs to its El Segundo plant and another 200 in its Palmdale plant as the 10-year, $19 billion engineering and testing phase begins for the F-35... Local subcontractors, which ultimately will rake in rake in Verb Informal to acquire (money) in large amounts Verb 1. rake in - earn large sums of money; "Since she accepted the new position, she has been raking it in" shovel in $100 billion on the project, are expected to hire 900 additional workers in 2002... About 250 subcontractors will get a share of Lockheed's Air Force F-22 Raptor “F-22” redirects here. For other uses, see F-22 (disambiguation). The F-22 Raptor is a fifth-generation American fighter aircraft that utilizes fourth-generation stealth technology. jet fighter. Boeing will lay off another 300 workers by April and will see job growth only in its El Segundo-based satellite making operation, where 1,000 new computer programmers, engineers and technicians will be hired in each of the next four years. New hires will work on design and development of top-secret reconnaissance satellites under a $20 billion, 25-year contract. No one expects a return to the 1988 local defense heyday when 274,000 people were employed, but look for job levels to return to 110,000 by the end of the year. Grade: B+ |
|
||||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion