Northrup Grumman and Shield AI to provide US Army with a VTOL solution for aerial reconnaissance
Key Insights and Signals in Aerospace and Defense
Deals Raytheon bags USD 1.2 Bn foreign military sales contract from the US Army Raytheon has secured the contract to supply advanced air-to-air missiles and other munitions to several countries. The contract also includes providing technical support, spares, and logistics. The sales will boost the company’s revenue as it seeks to expand its presence in the global defense market. Read More>> Elbit Systems bags USD 280 Mn contract to supply precision munitions and defense electronics systems Under the contract, the company will provide advanced technologies, including air-to-ground precision-guided munitions and unmanned aerial vehicles (UAVs). The deal will strengthen Elbit’s position as a leading global defense supplier. Read More>> India’s Defense ministry inks contracts worth INR 3,700 Cr (USD 451.1 Mn) to enhance Indian Air Force’s radar operations The deal will help the country enhance its military capabilities, including detecting and counter radar threats. BEL will manufacture and supply the systems to the Indian Armed Forces over five years. Read More>>Partnerships BAE Systems inks electric aircraft deal with Heart Aerospace BAE Systems has signed a collaboration agreement with Heart Aerospace to develop an electric aircraft that could be used for regional air transport. The project aims to develop an aircraft with 19 passenger capacity and a range of up to 400km. Read More>> US Army selects Northrop Grumman, teamed with Shield AI, for future tactical unmanned aircraft system prototype Northrop Grumman has been selected by the US Army to develop a tactical unmanned aircraft system prototype in partnership with Shield AI. The unmanned aircraft system will be capable of operating in contested environments and will include autonomous and artificial intelligence capabilities. Read More>> Spirit AeroSystems to work with Skyworks on VertiJet VTOL design Spirit AeroSystems and Skyworks Global will design and develop the VertiJet, a vertical take-off and landing (VTOL) aircraft for civil and military customers. The VertiJet is expected to have a range of up to 750 miles and a top speed of 400 mph. Read More>>Centre Setup and Expansion Hensoldt builds a new plant in Oberkochen Hensoldt is building a new plant in Oberkochen, Germany, to produce electronic components and systems for civil and military applications. The plant will be equipped with the latest manufacturing technology. Read More>>Executive Movement Aersale Corp: Change in Directors or Principal Officers, financial statements, and exhibits AerSale has appointed Mr. Jones as the Division President for Airframe and Materials. Mr. Jones brings a wealth of experience, having previously served as the President and CEO of Qwest Air Parts before its acquisition by AerSale in 2019. Read More>>Product Launch AeroVironment introduces the latest Switchblade 300 suicide drone The drone is a compact, precision-guided missile capable of loitering in the air for extended periods before engaging a target. The drone is designed for military and civilian applications, including border security and counter-terrorism operations. Read More>> Boeing unveils revolutionary new fuel-efficient jet for commercial airlines The new aircraft is designed to be the most fuel-efficient commercial aircraft ever built, with a range of up to 10,000 miles and the ability to carry up to 500 passengers. The aircraft is expected to significantly reduce airline operating costs while offering passengers improved comfort and safety features. Read More>>Financial and Market Activity Elbit Systems reports the fourth quarter and full year 2022 results Elbit reported its financial results for the fourth quarter of 2022, showing a slight increase in revenues to USD 1,506.4 Mn compared to the same period in the previous year. The company’s GAAP gross profit also increased to USD 380.6 Mn, representing 25.3% of revenues. Read More>>
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Latest Industry Insights from Draup Braindesk
Focus Areas
Unmanned Aircraft Systems
The importation of drone components will not require approvals. Imports are also allowed as completely built-up, completely knocked down, or semi-knocked-down units for R&D purposes by entities such as the central or state government, government-recognized R&D institutions, and indigenous manufacturers.
Indigenization and Manufacturing
The Indian captive companies are engrossing in policy-based initiatives to boost indigenous defense production, technology upgradation, and defense export capabilities technology development in India’s defense and aerospace sectors by engaging with entities such as MSMEs, startups, and R&D institutions.
Opportunity Areas
Component Manufacturing
This makes a strong case for global OEMs and their suppliers to examine India as a destination to play a vital role in the worldwide supply chain for aerospace components and parts. There could be several advantages to the low costs in India, along with the technical and engineering expertise/skills available for high-precision and high-quality components.
Maintenance, Repair, and Overhaul (MRO)
The Indian government has revised its MRO policy to increase the ease of business and make India a global leader in the MRO sector. Approximately 90% of India’s MRO activity occurs outside India, predominantly in Sri Lanka, Singapore, and Malaysia. Local capabilities are at a nascent stage but with the potential to grow quickly.
Startup Spotlight
Company – Gravitics Total Funding– USD 20 Mn About: Gravitics is an aerospace company that designs and manufactures large space structures for human life in low-Earth orbit. The StarMax module will provide up to 400 cubic meters of habitable volume. Multiple StarMax modules could be linked together in orbit. Read more>>
Latest Reports Published in Draup
Raytheon Intelligence & Space Account Intelligence Report
Raytheon Intelligence & Space equips Aero & Def company employees with cloud-based tools, technologies, and platforms to enhance collaboration, optimize operations, and unlock intelligent insights that drive greater customer value. Read More>>
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