Mitsubishi Heavy Industries to invest 100 billion yen in Shimonoseki Shipyard, acquiring land on Choshu Dejima

Oceaneering International's Aerospace and Defense Technologies segment has secured a follow-on U.S. Navy contract for Dry Deck Shelter maintenance, overhaul, engineering, and field change services, a five-year agreement with a potential value of US$154,000,000 supporting special operations forces and undersea vehicles. The award strengthens the near-term catalyst of growing ADTech revenues while modestly reducing the risk that earnings depend too heavily on deepwater oil and gas project activity. It follows the July 2026 Defense Innovation Unit CAMP shortlisting for an Extra Large Uncrewed Undersea Vehicle, together pointing to ADTech increasingly supporting undersea defense missions. Oceaneering's narrative projects $3.5 billion revenue and $103.3 million earnings by 2029, requiring 6.5% yearly revenue growth and an earnings decrease of $246.8 million from $350.1 million today, with a $46.00 fair value implying 4% upside. The most pessimistic analysts assumed earnings might fall toward about US$119 million by 2029, a view the new Navy contract could meaningfully test.

Lockheed Martin's Rotary and Mission Systems business received a $94.2 million contract modification from the U.S. Navy to support continued development and integration of the AEGIS Combat System for the Royal Canadian Navy. The award funds system engineering, computer program baseline development and integration testing of AEGIS Weapon System elements and interfaces, with work performed primarily in Moorestown, New Jersey, and expected completion by December 2027. The contract is funded through the Foreign Military Sales program, underscoring Canada's continued investment in advanced naval capabilities. AEGIS integrates sensors, weapons and command-and-control capabilities so ships can detect, track and respond to airborne and surface threats. The award adds to Lockheed Martin's long-term AEGIS-related work and supports its position in the naval defense market.

Huntington Ingalls Industries received a US$5.1b contract to refuel and overhaul the USS Harry S. Truman carrier, work that will be carried out at the company's Newport News Shipbuilding division in Virginia. The refueling and complex overhaul, or RCOH, lands squarely in the backlog and cash flow side of the company's business, which is built on a $56.9 billion backlog of multi-year, multi-program contracts. Separately, HII reached preliminary acceptance of the future USS John F. Kennedy aircraft carrier with the U.S. Navy ahead of formal delivery, a milestone that speaks to execution on complex Ford-class programs. Huntington Ingalls Industries is a US$10.2b aerospace and defense contractor focused on designing, building, overhauling and repairing military ships for the U.S. fleet, making large carrier projects like Truman and the future John F. Kennedy central to its operations. The carrier work keeps heavy yards fully loaded, though it also locks the business further into large manned platforms while management commits capital, partners and factory space to ROMULUS and REMUS unmanned systems.