Key Insights and Signals in Aerospace and Defense
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Centre Setup and Expansion
Boeing opens new distribution center in Hensteadt-Ulzburg, Germany
Boeing’s new distribution center will provide customers with specialized materials and chemicals. The 200,000-square-foot facility will serve commercial airlines, business and general aviation, original equipment manufacturers, and their subcontractors in the commercial and defense sectors. Read More>>
Deals
Elbit Systems awarded a USD 25 Mn contract to supply communications systems to Finland
Elbit was awarded a contract from the Finish Ministry of Defence to supply radio communications systems to the Finish Army. Under the contract, the company will supply advanced secured radio communications systems that enable enhanced tactical command and fire control. Read More>>
Saudia to buy up to one hundred Lilium electric aircraft for domestic network
Saudia will buy up to one hundred of Lilium’s aircraft for use on Saudia’s domestic network. Saudia will be the first national airline in the Middle East region to invest in sustainable air mobility solutions, in line with the kingdom’s vision to achieve net-zero carbon emissions by 2060. Read More>>
Raytheon delivers Ukraine-bound NASAMS air defense systems
Raytheon delivered two sophisticated NASAMS air defense systems to the U.S. government, which will send them to Ukraine. It is a short-range air defense system, and it can fire [an AIM-120 Advanced Medium-Range Air-to-Air Missile] and knock down everything in the sky, from drones to ballistic missiles to fighter jets. Read More>>
Executive Movement
ITT INC. announces change in Directors or Principal Officers
John Capela, Vice President & Chief Accounting Officer of ITT Inc. (the “Company”), announced his intention to leave the company to pursue other opportunities, effective November 4, 2022, and subsequently resigned from serving as the Company’s Vice President and Chief Accounting Officer. Read More>>
Financial and Market Activity
L3Harris Technologies Inc. down 1.83% to USD 248.43 after earnings miss
L3Harris announced after close that it earned USD 3.26 per share in quarter three of 2022. It reported earnings on an adjusted basis. The company reported USD 4.2 Bn on the revenue line. Read More>>
TriMas shows Q3 earnings snapshot
TriMas announced a profit of USD 13.3 Mn in its third quarter. The Bloomfield Hills, Michigan-based company announced it had a net income of thirty-two cents on a per-share basis. Earnings, adjusted for non-recurring costs, were forty cents per share. Read More>>
Boeing shares take off, then dives after aerospace giant reports USD 3.3 Bn loss and revenue miss in 3Q results
The company’s shares fell almost 9% after reporting increased losses and a revenue miss of almost USD 2 Bn in its third-quarter earnings. For the quarter, the aerospace manufacturer reported a net loss of USD 3.3 Bn, or USD 5.49 per share, a significant increase from its net loss of USD 132 Mn, or USD 0.19 per share, in the same quarter last year. Read More>>
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Latest Industry Insights from Draup Braindesk
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Funding Alert
Rocket maker Firefly Aerospace looks to raise USD 300 Mn
Firefly is seeking funding in a private fundraising round to complete the construction of manufacturing facilities for its Alpha rocket in Cape Canaveral, Florida, and accelerate the development of a bigger rocket the company plans to build with Northrop Grumman Corp. Read more>>
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Startup Spotlight
Company – Kayhan Space
Total Funding – USD 4.27 Mn
About: Kayhan Space ensures satellite operators maintain situational awareness of their space assets. Kayhan’s notification system easily integrates with any form of notification channel and ensures that the operators are aware of upcoming high-interest events. Read more>>
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