New Lockheed Martin (NYSE: LMT) CEO Jim Taiclet says he could consider “pure game defense” deals, but he won’t be looking for bargains in the struggling commercial aerospace industry, which is collapsing in air travel.
“We may want to expand the edges of the field,” pointing to artificial intelligence as the type of area that could strengthen the company’s weapons lineup, Taiclet told Bloomberg that it follows the company’s stronger-than-expected gains and an optimistic guide.
The COVID-19 pandemic has injected too much risk into big business that could counteract Raytheon and United Technologies’ tie-in, the CEO says, particularly for a company that has a record $ 150 billion in defense contracts.
The CEO says he is eager to use 5G networks to strengthen autonomous capabilities, envisioning a future where 50% -75% of military vehicles are autonomous.
“We are trying to improve the programs and platforms, and make them distinctively better compared to our peer group by taking the lead on the network side much faster,” Taiclet told Reuters in a separate interview.
