Defense & Aerospace Report

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners, and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss a roller coaster week for world markets as a selloff in US bonds prompted President Trump to pause for 90 days the tariffs he imposed last week; the 10 percent across the board tariffs as well as a 25 percent surcharge on steel and aluminum the president retained; China tariffs of about 150 percent and Beijing retaliation; the bond sell off as yields rose from 3.9 to 4.5 percent and what that means as Congress prepares to borrow more money as lawmakers seek to raise America’s borrowing to cover a massive tax cut package; Delta rescinded its guidance in the fact of uncertainty; Defense Secretary Pete Hegseth’s decision to cancel $5 billion in services contracts; the outlook for US services firms as the government workforce is culled; the administration’s move to halve NASA’s science budget; how US efforts to normalize relations and trade with Russia will impact aerospace markets; the British government’s decision to keep open a steel plant in Scunthorpe; Indonesia’s interest in partnering with Turkey on the Kaan fighter and a new submarine program; and Boeing NGAD investment in St Louis.

Michael Herson, a top defense lobbyist, joins Patrick Cronin of the Hudson Institute, former Pentagon comptroller Dov Zakheim, and ex-Pentagon Europe chief Jim Townsend. They dive into how Trump's tariffs are shaking global markets and the U.S.-China trade dynamic. A $5 trillion tax cut debate amidst rising borrowing rates raises eyebrows. Discussions also touch on Ukraine's surge in war production and Bibi Netanyahu's Washington visit. The panel reflects on the geopolitical landscape, implications of U.S. defense strategies, and the Arctic military readiness.

Where do airpower, charity, and bourbon intersect? Retired E-2 Hawkeye legend Rear Admiral Scott Sanders has the answer. And CSIS’s Dr. Tom Karako joins us with the latest on air and missile defense, especially Golden Dome. All powered by GE!

On this episode of the Defense & Aerospace Report Strategy Series, sponsored by General Atomics Aeronautical Systems, Becca Wasser and Phil Sheers of the Center for a New American Security join Defense & Aerospace Report Editor Vago Muradian to discuss the new report they coauthored “From Production Lines to Front Lines: Revitalizing the U.S. Defense Industrial Base for Future Great Power Conflict.”

Scott Forney, the president of General Atomics Electromagnetic Systems, joins Defense & Aerospace Report Editor Vago Muradian to discuss how the electromagnetic catapults and advanced arresting gear developed and made for the first of the Ford class are being improved for subsequent ships; gauging the progress of Chinese efforts to field electromagnetic systems on their carriers; lessons from electromagnetic catapults and arresting gear that are improving other capabilities and products; the Long-Range Maneuvering Projectile; the partnership with RAFAEL to develop the Bullseye precision cruise missile that leverages of the Israeli company’s Icebreaker weapon; work the company is doing on fission power; role in the Trump administration’s “Giolden Dome” air and missile defense system; impact of Trump’s tariffs on performance and more.

On today’s program, sponsored by HII, Nick Waite, a director at Clarion Defence producing the Apex Innovation Conference April 23-24, 2025, at the Gaylord National Harbor outside Washington, DC, joins Defense & Aerospace Report Editor Vago Muradian to discuss the upcoming event from agenda and speakers to a discount for listeners of our show; and Byron Callan of the independent Washington research firm Capital Alpha Partners discusses the strategic and defense implications of President Trump’s sweeping tariffs including that China was not deterred from imposing sanctions of its own on the United States; whether foreign defense and aerospace firms will grow their US industrial footprint; the changing nature of manufacturing and why returning the industrial workforce to past levels is implausible; the outlook for US defense spending as the Senate proposes $100 billion in additional funding over the coming years; Defense Secretary Pete Hegseth’s decision to skip the Ukraine Contact Group to attend Central American Security Conference; likelihood of US-Israel strike on Iran’s nuclear facilities in the wake of recent news reports of impending attack and staging of B-2 Spirit bombers in Diego Garcia; what to expect from the Navy League’s Sea-Air-Space conference and tradeshow April 7-9; and a look at the week ahead. ***APEX Discount CODE for Defense & Aerospace listeners-- 25% off conference passes. Use code: DEF&AERO

Join industry experts Ron Epstein, a market analyst from Bank of America Securities, Sash Tusa, an independent equity researcher, and Richard Aboulafia from AeroDynamic Advisory, as they dissect the far-reaching impacts of sweeping tariffs. They discuss how the aerospace and defense sectors are grappling with stock declines, inflation fears, and the threat of recession. The trio also addresses the unpredictable global trade landscape and the implications of tariffs on market dynamics and supplier relationships, all while keeping a close eye on the looming Paris Air Show.

In this discussion, Patrick Cronin, Asia-Pacific Security Chair, unpacks the geopolitical implications of recent U.S. tariffs and the potential for recession. Michael Herson highlights the need for bipartisan solutions to stabilize defense exports while Jim Townsend dives into the shifting alliances in the Indo-Pacific, especially regarding China. Dov Zakheim raises concerns about political turbulence and its effects on U.S.-Russia relations. Together, they explore the complexities of current U.S. foreign policy against a backdrop of domestic political strife.

It’s been a huge couple of weeks in airpower, with more coming soon. Boeing’s win in the Next Generation Air Dominance program is the biggest story, but there are so many more that we’re catching you up this week with a full All Wings Considered episode; Vago and J.J. break down all the stories and try to make some sense out of them. All powered by GE!

Jason Pak and Carl Poppe, both West Point graduates and retired US Army artillery officers, dive into the evolving landscape of military artillery. They discuss the U.S. Army's testing of the K9 Thunder self-propelled howitzer, emphasizing the need for mobility and automation in modern warfare. The conversation highlights the role of drone technology in artillery coordination, the push for increased domestic production of munitions, and the advantages of tracked versus wheeled artillery systems for operational efficiency.