04 May 2020 -
 Defence

Trend: Defence industry ‘insulated’ from Covid economic downturn

The defence sector appears to be weathering the economic fallout of Covid-19, reports the USNI (U.S. Naval Institute), a not-for-profit body serving the sea power community.

According to this article, the Q1 financial results posted by some large defence contractors revealed that “government-funded work continued, albeit with spotty supply-chain related slowdown”.

A General Dynamics official is quoted to comment its defence business was “the bright spot for the company”, as government contracts continued paying and demand remained as expected.

At the same time, Textron’s Bell subsidiary saw revenues increase, mostly due to increased military sales. Scott Donnelly, Textron CEO, is reported to have said, “Bell military is obviously very solid for the quarter.”

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