Lockheed Martin subsidiaries have reached a settlement with the federal government to pay $70 million for overcharging the Navy for aircraft parts. The two subsidiaries were found to have charged the Navy more than the fair price for the parts. The settlement was reached to resolve the claims of overcharging and to ensure fair pricing in future transactions.

Following his victory in India's election, Prime Minister Narendra Modi is expected to focus on strengthening defense ties with the United States as tensions with China continue to escalate. Modi's third term is likely to see increased cooperation between the two countries in the defense sector, as India seeks to bolster its capabilities in response to growing rivalry with China. While specific details of Modi's agenda for his third term have not been revealed, closer defense collaboration with the US is expected to be a key priority.