Archer Aviation aims to start electric air taxi trials in India next year

On the same subject

• 

  June 19, 2019 | International, C4ISR

  L3 Technologies and Saudi Arabian Military Industries Enter Into Joint Venture

  LE BOURGET, France--(BUSINESS WIRE)--L3 Technologies (NYSE:LLL) announced today that it has signed a joint venture agreement with Saudi Arabian Military Industries (SAMI) to collaborate on electro-optical and infrared (EO/IR) and special mission systems projects within the Kingdom of Saudi Arabia (KSA). The contract was signed on June 18 in the SAMI Chalet during the Paris Air Show. In February 2019, L3 and SAMI announced the signing of a Memorandum of Understanding (MoU) relating to the joint venture. “Through this partnership, L3 will further establish a long-term presence within the KSA,” said Christopher E. Kubasik, L3's Chairman, Chief Executive Officer and President. “This venture with SAMI, which includes research and development, manufacturing, training and sustainment activities, represents a key milestone in the further development and execution of L3's international growth strategy.” “We are pleased to partner with L3 as we move towards our goal of creating a Center of Excellence in the Kingdom,” said H.E. Ahmed Al-Khateeb, Chairman of SAMI. “As we continue to support objectives tied to Saudi Vision 2030, this long-term partnership with L3 will help grow the sensor and mission systems industry while creating a comprehensive through-life support structure for our military customers.” L3 Technologies designs and manufactures industry-leading multi-spectral and multi-sensor EO/IR imaging and targeting sensor systems in addition to fully customizable mission systems for air, land and maritime vessels. Together, L3 and SAMI will indigenously design and implement these advanced technologies and solutions for a variety of customer-specific applications from a Center of Excellence that will be established in the Kingdom. About L3 Technologies With headquarters in New York City and approximately 31,000 employees worldwide, L3 develops advanced defense technologies and commercial solutions in pilot training, aviation security, night vision and EO/IR, weapons, maritime systems and space. The company reported 2018 sales of $10.2 billion. To learn more about L3, please visit the company's website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company's website and is readily accessible. About Saudi Arabian Military Industries Launched in May 2017, Saudi Arabian Military Industries (SAMI) is a state-owned military industries company working under the directives outlined in the Saudi Vision 2030. Aiming to be among the top 25 military industries companies in the world by 2030, SAMI is expected to play a key role in localizing 50% of the Kingdom's total government military spending. SAMI is combining the latest technologies and the best national talent to develop military products and services at par with international standards across four business divisions – Aeronautics, Land Systems, Weapons and Missiles, and Defense Electronics. For more information, visit www.sami.com.sa or e-mail us at info@sami.com.sa. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-Looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements. https://www.businesswire.com/news/home/20190618005809/en

• 

  September 6, 2019 | International, Aerospace

  Rafael acquires drone-focused firm in $240M deal

  By: Seth J. Frantzman JERUSALEM — Israeli defense company Rafael Advanced Defense Systems' acquisition of local firm Aeronautics Limited combines the former's expertise in intelligence, surveillance and reconnaissance with the latter's ties to the UAS market. “We have a strong feeling and understanding that the world is changing and moving more operational requirements toward unmanned vehicles and specifically unmanned aerial vehicles,” said Yuval Miller, executive vice president of aerial and C4I systems divisions at Rafael. The 850 million shekel (U.S. $240 million) deal has been in the works for more than a year and received approval earlier this year. Under the agreement, announced Sept. 3, Rafael will hold a 50 percent stake in Aeronautics along with businessman Avichai Stolero. Rafael, which is known for its Iron Dome air defense system, Trophy active protection system, Litening pods and advances in artificial intelligence, sees an advantage in adding UAS to its global strategy. Aeronautics has a portfolio involving 50 countries and a spectrum of UAVs. Rafael says it has in-house capabilities such as sensors, systems and munitions that have been used on fighter jets and other platforms that can pair well with what it describes as Aeronautics' lower-tier UAVs. Rafael has historically cooperated with other local and foreign companies that make UAVs, such as Elbit Systems and Israel Aerospace Industries. For instance, its RecceLite pod was integrated on General Atomics' Predator B/MQ-9s with the Italian Air Force in 2016. But Rafael noticed even more potential in the platforms made by Aeronautics, including its Orbiter UAV products, such as the Orbiter 3 lightweight drone that has a range of 150 kilometers and is used for intelligence, surveillance, target acquisition and reconnaissance missions. “These platforms are becoming more robust and their endurance has grown significantly,” Miller said. Indeed, the market is growing in size, to the tune of billions of more dollars in annual spending over the next decade alongside the bolstered capability and and further miniaturization of UAVs. “This has put us in a position to look for a partner, and we found that Aeronautics, which has an excellent portfolio in 50 countries around the world, and their UAV platforms on the lower tier are world leading, and binding that with Rafael's network and sensor capability looks like excellent synergy,” said Miller, who foresees a fast-growing business with the acquisition. Rafael plans to maintain Aeronautics as an independent company, which will evolve its business to Rafael's products. The two companies already partnered in acquiring Controp Precision Technologies in 2012. Controp makes electro-optical systems. Rafael envisions a productive meshing with its electro-optics for ISR missions and area surveillance. “We are talking about onboard advanced image processing and [artificial intelligence], and today that also is available in small and lightweight for lower-tier and low-cost UAVs,” Miller said. Currently, medium-altitude, long-endurance and high-altitude, long-endurance UAVs are costly, but stronger and smaller drones will evolve and combine more sensors and networks, fusing data for an overall customer gain, according to Rafael. Rafael did not discuss how it might mesh with Aeronautics' loitering munitions, such as the Orbiter 1K. The acquisition is part of a growing trend of consolidation in Israel, which saw Elbit acquire former state-owned IMI last year. In 2017 and 2018, Aeronautics was under several investigations that saw its exports restricted and stock price falter. Those hiccups now appear to be behind the firm. https://www.defensenews.com/industry/2019/09/05/rafael-acquires-drone-focused-firm-is-240m-deal

• 

  July 21, 2020 | International, Aerospace

  Lockheed Martin awarded USD15 billion for future C-130J work

  by Gareth Jennings Lockheed Martin has been awarded USD15 billion to support all remaining C-130J Hercules work through to 16 July 2030. The indefinite delivery/indefinite quantity (IDIQ) contract, which was announced by the US Department of Defense (DoD) on 17 July, covers domestic and Foreign Military Sales (FMS) work related to the four-engined airlifter built at the company's Marietta facility in Georgia. “This contract provides flexibility to accommodate the broad enterprise of activities associated with the C-130J programme,” the DoD said, noting that it specifically covers development, integration, retrofit, and production activities for all C-130J variants. The DoD added that fiscal year (FY) 2018 and 2019 aircraft procurement funds in the amount of USD3.3 million were being obligated at the time of award. This award follows a similar IDIQ agreement for USD10 billion signed with Lockheed Martin in August 2016. At that time, the DoD said the contract covered the production of an estimated 100 C-130Js for the United States and FMS customers. It would appear from the overlap in scope and timelines between the two awards that this latest contract is an extension and an expansion of the earlier one. https://www.janes.com/defence-news/news-detail/lockheed-martin-awarded-usd15-billion-for-future-c-130j-work