The defense giant has been benefiting from a wave of increased geopolitical tension and military spending. Demand for the company’s Gulfstream jetliner has recently softened; it projects delivering 138 this year compared to 147 in 2015. General Dynamics is making up for the commercial revenue decline on its defense side. Navy spending is up, which has boosted the company’s marine systems sales. Overseas deals for armored vehicles in the UK, Denmark, and Saudi Arabia have boosted its combat systems unit as well. Last year the company spun off Fideleis Cybersecurity, a computer security business that it picked up in 2012. The move demonstrates CEO Phebe Novakovic’s continued emphasis on slimming and restructuring the organization.
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The change is partly due to lower shipments in its aerospace business.