The closure of the US Export-Import Bank (EXIM) charter is forcing the US companies to explore business options overseas. Major aerospace companies, which have been benefiting from export financing and other encouraging schemes from EXIM, are in favor of shifting out of the US. General Electric (GE) has already firmed up to its plan to set up $400-million turboprop engine in Europe. Aerospace Industries Association (AIA), the largest US aerospace trade group, expresses concerns that many aviation companies are losing their competitiveness in the absence of support from EXIM. However, conservative Republicans are against EXIM charter as it's confined to only three major companies.
Tags: Boeing
NASA Concludes Its Hybrid Plane Research Successfully
Researchers in NASA is moving one step further to introduce a hybrid airplane technology in concluding its ERA project. The airplane will be able to fly on both fossil fuel and electricity, similar to hybrid car technology.
Lockheed-Boeing JV to fly into satellite launching space
United Launch Alliance (ULA), a joint venture (JV) between Lockheed Martin and Boeing, is entering into miniature satellites segment. ULA is planning to launch a CubeSat carrier by mid 2017. ULA will explore business potential in launching small satellites for earth imaging, weather forecasting, internet relays, etc.
Quebec defends support to Bombardier CSeries
Quebec is reacting positively to its decision of supporting Bombardier Inc with $1-billion lifeline. Quebec says its decision wouldn't attract any trade dispute from the competitors of Canadian airline.
China To Compete the Global Giant Aircraft Manufacturers with their First State Developed C919 Passenger Jetliner
China revealed their first owned passenger plane manufactured by a Chinese initiative to compete with the leading global aircraft manufacturers for the largest passenger jetliners in Aviation market. Though, China is also among the mammoths in Aviation industry, the state still depends on Boeing and Airbus aircraft.
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The $37B worth deal of Berkshire Hathaway Inc. with Precision Castparts Corporation, a major aircraft parts supplier of Boeing had encouraged more investors in the aircraft industry. However, Boeing had been delaying its suppliers' M&A contracts.
US Defense Secretary Ash Carter on August 8 gave $75 million to FlexTech Alliance, a consortium of giant tech and research firms, to develop an electronic device small enough for soldiers to carry.
With an objective of taking additive manufacturing (3-D printing) to further advance level, America Makes has drawn up plans to support research and development (R&D) with financial funding of up to $8 million.
Hyperloop Transportation Technologies had agreed to work with Oerlikon Leybold Vacuum and engineering design company, Aecom, to build Elon Musk's vision; the Hyperloop tube.
Media reports on Sunday reveal Iran's plans to buy up to 300 units of Boeing and Airbus planes to replace its antiquated fleet by purchasing at least 90 planes annually. An official of Iran's civil aviation agency projected that Iran would need between 400 and 500 planes in the next ten years.
Airbus (AIR.PA) signed an agreement on Thursday to set up its second plant on Chinese soil in a deal that the European planemaker hopes will lead to lucrative new plane orders.
Boeing Co (BA.N) on Tuesday named Dennis Muilenburg as chief executive officer, effective July 1, succeeding Jim McNerney.
Airbus (AIR.PA) won the Paris Airshow with a last-minute $14 billion deal to sell 110 jets to Hungary's Wizz Air on Thursday, diverting attention from a growing industry debate over how quickly a record backlog of jet orders can be built.
Boeing (BA.N) won breathing space for its struggling jumbo jet on Wednesday with a preliminary deal for 20 of its 747-8 freighters from Russian cargo airline Volga-Dnepr Group.
