Sierra Nevada Corporation -

>>> Sierra Nevada Corporation is an aerospace and defense contracting company. They design and manufacture spacecraft, aircraft, ground vehicles, electronics, hardware, and software. They provide services that serve astronauts, warfighters, and first responders. Their services include aircraft integration, modification, secure ISR solutions, and electromagnetic services. <<<

>>> Fatih Ozmen was born and raised in Turkey, yet this dynamic entrepreneur has come to embody the American dream. Today, Fatih is the owner and CEO of Sierra Nevada Corporation (SNC), one of America’s fastest growing private companies with a reputation for rapid, innovative and agile technology solutions. Fatih joined SNC in 1981 with a broadengineering background culminating with a M.S. degree in Electrical Engineering from the University of Nevada, Reno. With a strong vision for the future of SNC, Fatih Ozmen and his wife Eren Ozmen acquired the company in 1994 and set their plans in motion to expand and grow. With the Ozmens at the helm, SNC has grown from a small company of 20 employees, to a full-service systems integrator with over 3,000 personnel in 34 locations worldwide. <<<


https://www.crunchbase.com/organization/sierra-nevada-corporation?utm_source=yahoo&utm_medium=referral&utm_content=profile_cta&utm_campaign=yahoo_finance


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>>> US Air Force awards $13 billion Doomsday plane contract to Sierra Nevada


Reuters

4-26-24


https://www.msn.com/en-us/news/us/us-air-force-awards-13-billion-doomsday-plane-contract-to-sierra-nevada/ar-AA1nJOGh?OCID=ansmsnnews11


(Reuters) -The U.S. Air Force said on Friday that it has awarded a $13 billion contract to Sierra Nevada Corp to develop a successor to the E-4B, known as the Doomsday plane due to its ability to survive a nuclear war.

The Survivable Airborne Operations Center (SAOC) project is intended to replace the aging 1970s-era aircraft, which is approaching end-of-service life, an Air Force spokesperson said in a statement.

Work on the SAOC will be carried out in Colorado, Nevada and Ohio and is expected to be completed in 2036, the Air Force added.

To satisfy operational requirements, the weapon system will comprise of a commercial derivative jet hardened and modified to meet military requirements.

Reuters in December reported that the U.S. Air Force eliminated Boeing from its competition to develop a successor to the E-4B Nightwatch.

While typically used to transport the U.S. secretary of defense, the E-4B is designed as a mobile command post capable of withstanding nuclear blasts and electromagnetic effects, allowing U.S. leaders to deliver orders to the military in the event of a national emergency.

The E-4B is also capable of refueling mid-air and features conference and briefing rooms and advanced communications equipment.

The Air Force currently operates four E-4B aircraft with at least one on alert at all times. The fleet of highly-modified Boeing 747-200 jumbo jets has become increasingly difficult and expensive to maintain as parts become obsolete.

The E-4B is expected to reach the end of its service life in the early 2030s.

<<<



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GE Aerospace - >>> GE completes three-way split, breaking off from its storied past


Reuters

by Rajesh Kumar Singh and Abhijith Ganapavaram

April 2, 2024


https://finance.yahoo.com/news/ge-completes-three-way-split-103653223.html?.tsrc=fin-notif


CHICAGO (Reuters) -General Electric on Tuesday completed its breakup into three companies, marking the end of the 132-year-old conglomerate that was once the most valuable U.S. corporation and a global symbol of American business power.

The industrial giant's aerospace and energy businesses began trading on the New York Stock Exchange as separate entities more than a year after GE spun off its healthcare business.

GE Aerospace has retained the GE symbol. The energy unit, GE Vernova, made its debut under the ticker symbol GEV.

GE Aerospace shares were up about 2% at mid-afternoon. Vernova rose about 5%.

The breakup culminates CEO Larry Culp's efforts to turn around a company that looked all but dead due to bad investments and the 2008 financial crisis that nearly bankrupted its most profitable business, GE Capital.

When Culp, the first outsider to run GE, took the helm in 2018, the company was struggling with weak profits and a mountain of debt. Its stock had fallen nearly 80% from highs in 2000 and lost its spot in the Dow Jones Industrial Average after over a century in the blue-chip stock index. The tumult prompted GE's board to oust two of his predecessors in less than two years.

Culp's task to save the struggling conglomerate became more challenging when its lucrative jet engine business fell victim to the coronavirus pandemic as global air travel dried up. However, his focus on paying off debt by selling assets and improving cash flows by streamlining operations and cutting overhead costs ushered in a recovery.

GE has slashed more than $100 billion of debt and quadrupled its free cash flow since 2018. Its market cap has grown by about $100 billion to $192 billion.

"With the successful launch of three independent, public companies now complete – today marks a historic final step in the multi-year transformation of GE," Culp said on Tuesday.

Culp, as the CEO of GE Aerospace, rang the NYSE opening bell on Tuesday, along with Vernova CEO Scott Strazik.

GE was formed in 1892 after famed inventor Thomas Alva Edison merged Edison General Electric Co with a rival. In subsequent years, it has touched all parts of life - from bringing electricity to selling appliances to financing mortgages.

After the split, it will be left with its aerospace business, which makes engines for Boeing and Airbus jets and generates more than 70% of its revenue from services.

Analysts estimate the market value of GE Aerospace at more than $100 billion after the spinoff. It is benefiting from a surge in demand for aftermarket services because jet delivery delays by Boeing and Airbus are forcing airlines to fly older planes for longer.

Last month, it forecast operating profit of about $10 billion in 2028.

"We expect GE Aerospace's engine business flywheel to spin off decades of profitable growth," Nicolas Owens, equity analyst at Morningstar, wrote in a note.

<<<



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Eviation - It looks like electric aircraft could be the future, at least for shorter haul flights under 500 miles. Here's one from the company Eviation (video below). I remember seeing the prototype for this in the news when they had it at the annual Paris Air Show (2019). Eviation began as an Israeli startup, and is now majority owned by the Clermont Group, a Singapore conglomerate, and they have $5 bil in orders. Improved battery technology will be the key to getting longer haul aircraft with bigger payloads -

Check out this long list of electric aircraft at various stages of development -

https://en.wikipedia.org/wiki/List_of_electric_aircraft

A list of eVTOL related companies by market cap (below). Next would be to check out the status of the current helicopter companies (Airbus, Bell, Boeing, Leonardo, Sikorsky). Chances are the most promising small e-VTOL companies will be acquired by these large behemoths -


Joby Aviation, Inc.(JOBY) (3.8 Bil), a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides. Joby Aviation, Inc. was founded in 2009 and is headquartered in Santa Cruz, California.

Eve Holding, Inc. (EVEX) (1.5 Bil), together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems. The company is based in Melbourne, Florida. Eve Holding, Inc. operates as a subsidiary of Embraer S.A.

Archer Aviation Inc. (ACHR) (1.4 Bil), together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc. The company is headquartered in San Jose, California.

EHang Holdings Limited (EH) (1.2 Bil) operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions. The company was incorporated in 2014 and is headquartered in Guangzhou, the People's Republic of China.

Lilium N.V. (LILM) (507 mil), a transportation company, engages in the research and development of electric vertical takeoff and landing aircrafts and jet for use in high-speed air transport system for people and goods. It also provides aircraft manufacturer services, including training, maintenance operations, material and battery management, global distribution, flight operations support, ground service equipment, and digital solutions. Lilium N.V. was incorporated in 2015 and is headquartered in Wessling, Germany.

Vertical Aerospace Ltd. (EVTL) (252 mil), an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. The company was founded in 2016 and is headquartered in Bristol, the United Kingdom.

Blade Air Mobility, Inc. (BLDE) (214 mil) provides air transportation alternatives to the congested ground routes in the United States. It provides its services through charter and by-the-seat flights using helicopters, jets, turboprops, and amphibious seaplanes. The company was founded in 2014 and is headquartered in New York, New York.

Surf Air Mobility Inc. (SRFM) (62 mil) operates as an electric aviation and air travel company in the United States. It offers an air mobility platform with scheduled routes and on demand charter flights operated by third parties; and air cargo services. The company is headquartered in Hawthorne, California.



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>>> 7 eVTOL Stocks to Invest In the Full Range of Air Mobility

Leverage the 'verticals' of transportation


By Josh Enomoto

InvestorPlace

Jan 25, 2024


https://investorplace.com/2024/01/7-evtol-stocks-to-invest-in-the-full-range-of-air-mobility/


Toyota (TM): Toyota’s key investments in eVTOLs make it a conservative idea.

Honeywell (HON): Honeywell delivers critical technologies to air mobility platforms.

Embraer (ERJ): Embraer is leveraging its know-how to get into the eVTOL game.

Take your portfolio to the skies with compelling eVTOL stocks.


While everyday mobility generally occurs on the terrestrial realm, the vertical axis opens up several possibilities, thereby bolstering the basic case of eVTOL stocks. With electric vertical takeoff and landing aircraft, people can quickly and conveniently get to their destination. Better yet, these flying car stocks present holistic value.

Yes, when it comes to flying vehicle stocks, I suppose you can technically include helicopters in the mix. However, they’re loud – and when there are several in the area, they can impose nuisances on folks down on earth. In addition, helicopters aren’t exactly zero-emission vehicles. With eVTOLs, the platform is delivering the same benefits as electric vehicles but in the skies.

Further, let’s talk about the numbers behind air mobility stocks. According to MarketsandMarkets, the eVTOL market size could grow from $1.2 billion in 2023 to $23.4 billion by 2030. If so, that would represent a compound annual growth rate (CAGR) of 52%. And that might be on the conservative side, with Grand View Research projecting the air mobility market to hit $137.11 billion by 2035.

Fundamentally, the paradigm is shifting. Below are eVTOL stocks to consider.

Toyota (TM)

Let’s get something out of the way first. Japanese automotive giant Toyota (NYSE:TM) isn’t exactly a pure-play idea for eVTOL stocks. And to be sure, it has an “interesting” relationship with electric-powered mobility. Toyota Chairman Akio Toyoda continues to express his skepticism over EVs as sector sales decline amid tough economic conditions. Still, investors might not want to conflate EVs with air mobility endeavors.

For one thing, Toyota extended its partnership with eVTOL developer Joby Aviation (NYSE:JOBY) regarding a long-term supply arrangement. Ultimately, the mutual goal centers on reaching mass production of electric passenger aircraft in the U.S. Second, Toyota continues to conduct research and development regarding solid-state batteries. Should it be successful, such a rousing technology could translate to air mobility. Thus, it’s an intriguing idea for flying car stocks.

And frankly, it’s a credible play. With Toyota, you’re dealing with a consistently profitable enterprise. And with a trailing-year earnings multiple of only 9.92X, it’s undervalued. Therefore, it makes sense as a key member of flying vehicle stocks.

Honeywell (HON)

Again, let’s discuss the obvious point: Honeywell (NASDAQ:HON) is not a direct player in the competition within eVTOL stocks. However, that doesn’t mean the industrial conglomerate is irrelevant to the transportation paradigm shift. On the contrary, Honeywell’s applied sciences acumen is crucial for the safe and efficient operation of eVTOL aircraft.

According to the company’s website, it provides advanced flight controls for electric-powered aircraft; specifically, its fly-by-wire system. A significant innovation in aerospace, fly-by-wire means that the flight control inputs that pilots make are processed by computers rather than “analog” systems. It’s a complex piece of technology but the bottom line is that fly-by-wire adds tremendous stability to the aircraft. That’s kind of an important attribute.

Further, what makes HON a viable candidate for air mobility stocks is the underlying financials. True, it’s not the prettiest picture available. Nevertheless, the company enjoys consistent profitability and strong margins across the board. Also, analysts peg shares a consensus moderate buy with a $219.23 average price target. For a reasonable idea among eVTOL stocks, you probably can’t go wrong with Honeywell.

Embraer (ERJ)

A Brazilian multinational aerospace corporation, Embraer (NYSE:ERJ) might again not be one of the pure-play flying car stocks. However, because of its core business, it’s more related to the arena of air mobility than most other companies. Further, ERJ may organically benefit from improved economic conditions worldwide. Indeed, during the past 52 weeks, shares gained just over 39% of equity value.

However, as it relates to flying vehicle stocks, Embraer features an initiative called Eve, a new independent company that’s dedicated to accelerating the urban air mobility ecosystem. Here, Eve leverages Embraer’s 50-year history of engineering expertise to deliver 100% electric-powered flying cars. Further, the company indicates that while the underlying eVTOL aircraft will be piloted by humans at launch, it will eventually be ready for autonomous operations.

Now, unlike some of the other established names, Embraer doesn’t offer the most attractive financials. That said, ERJ trades at a forward earnings multiple of 14.77X, below the aerospace and defense industry’s median multiple of 17.16X. Analysts also rate shares a consensus strong buy with a $20.75 average price target. Thus, it could make for a tempting play for air mobility stocks.

Boeing (BA)

Admittedly, Boeing (NYSE:BA) is a tricky situation given recent safety concerns. According to a recent CNN article, Alaska Airlines (NYSE:ALK) found loose bolts on many Boeing 737 Max 9 jetliners. I don’t know about you but the terms “loose” and “bolts” are not words I want to hear under the context of flight; specifically, the context of my flight. Still, BA has been holding up surprisingly well from all the bad news.

Assuming we move forward from the fiasco, Boeing naturally makes for an intriguing idea for eVTOL stocks. Obviously, as a global leader in the aerospace industry, the company boasts extensive experience in aircraft design, manufacturing and certification. What may pique investors’ interest is Boeing’s experimentation with a solar-powered plane. In theory, such an aircraft could fly at high altitudes for years at a time.

Should momentum take off in that arena, the company would have a clear edge in zero emissions. In the meantime, BA stock is a beneficiary of its longstanding reputation. Despite recent wobbles, analysts peg shares a consensus strong buy with a $272.05 price target.

Archer Aviation (ACHR)

Moving onto the pure-play ideas for eVTOL stocks, Archer Aviation (NYSE:ACHR) concentrates exclusively on building air mobility craft. Per its public profile, Archer’s eVTOLs are designed around the transportation of people in mind as an air taxi service. Further, its vehicles can travel a distance of up to 100 miles at a speed of 150 miles per hour. As well, Archer inked a deal with United Airlines (NASDAQ:UAL), the former enterprise’s first major corporate partner.

Functionally, one of Archer’s top attributes is the design of its eVTOL aircraft. Featuring a 4-passenger configuration, it promises to deliver quieter operation and possibly greater efficiency compared to the competition. That’s significant because if the concept of air mobility stocks takes off, we could see tons of these craft in the sky. Unfortunately, that could create a compounding effect in terms of noise. So, anything to reduce this burden would be appreciated.

Still, all pioneering businesses carry risks. For Archer, it remains a narrative play, with the company not generating revenue yet. Nevertheless, that hasn’t stopped analysts from rating ACHR a consensus strong buy with an $8.13 average price target.

Blade Air Mobility (BLDE)

Ramping up the risk-reward profile in eVTOL stocks, we find Blade Air Mobility (NASDAQ:BLDE). An aviation specialist headquartered in New York City, Blade’s urban air mobility platform provides air transportation for passengers. As well, it offers last-mile services related to critical cargo, primarily via helicopters and amphibious aircraft. Fun fact: it’s also one of the largest air medical transporters of human organs.

However, the market hasn’t really treated BLDE that well despite its myriad relevancies. Looking at its 52-week chart, shares lost more than 27% of equity value. It’s also off to an inauspicious start to the new year, dipping over 7%. Nevertheless, the urban air mobility may offer significant upside for Blade Air Mobility. Per Mordor Intelligence, the segment could reach a value of $45.4 billion by 2036. That would imply a CAGR of 23.54% from 2024.

As with other flying car stocks, you’re taking a big risk in terms of viability. However, Blade has the advantage of posting a three-year revenue growth rate of 18.5%, above 78.26% of its peers. Analysts also peg shares a unanimous strong buy with an $8.17 price target.

Surf Air Mobility (SRFM)

Easily the riskiest idea on this list of eVTOL stocks, Surf Air Mobility (NYSE:SRFM) is really only appropriate for speculators. As you can see from its price chart, SRFM carries a price tag of only a little over a buck. Most would call that penny stock territory. Also, its market capitalization sits at around $86 million. That’s barely above the nano-cap threshold of $50 million.

Oh yeah – shares lost nearly 63% of equity value in the trailing year. I’m not trying to cast aspersions. It’s just that you’ve got to be super-careful here.

With all that said, Surf Air does deliver a compelling narrative. Currently, the enterprise focuses on luxury travel, catering to a smaller (but ultimately more profitable) niche market. By providing premium, personalized air travel, Surf Air could potentially be viable sooner. Basically, it would be addressing a higher-income crowd instead of waiting for the air mobility industry to scale.

Still, revenue growth has slowed between 2022’s results and the trailing 12-month performance. So, caution is a must. At the same time, analysts rate shares a buy with a robust $3.31 price target.

<<<



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JOBY and ACHR -

From Wikipedia -

JOBY has received funding from Toyota and Delta Airlines. Also a partnership with Garmin for the flight deck equipment. JOBY's founder is billionaire 'serial' entrepreneur JoeBen Bevirt -

https://en.wikipedia.org/wiki/Joby_Aviation

Archer Aviation (ACHR) reportedly received an order for 100 aircraft from United Airlines. Also a partnership with Stellantis and investments from Boeing -

https://en.wikipedia.org/wiki/Archer_Aviation


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>>> Boeing Whistleblower John Barnett Found Dead Amid Depositions Against Plane Company


Time

by Koh Ewe

March 12, 2024


https://www.yahoo.com/news/boeing-whistleblower-john-barnett-found-104622297.html


John Barnett was supposed to answer questions on Saturday as part of a deposition he’d been giving earlier last week related to a legal dispute with his former employer Boeing—which has been dogged by safety concerns, some of which he had raised. But he didn’t show up.

When his legal team called him repeatedly to no avail, they eventually asked the hotel he was staying at to check in on him. That’s when Barnett was found dead in his truck in the parking lot.

The Charleston County Coroner’s Office told media that Barnett died from “what appears to be a self-inflicted gunshot wound,” and that the Charleston Police Department is continuing to investigate the death.

Barnett’s lawyer Brian Knowles described the discovery as “tragic” to legal newsletter Corporate Crime Reporter, which first reported on Barnett’s death. “John had been back and forth for quite some time getting prepared,” said Knowles, who told Corporate Crime Reporter that he was set to cross-examine Barnett on Saturday for what would have been “day three of his deposition here in Charleston on his AIR21 case,” referring to the shorthand for the Federal Aviation Administration’s Whistleblower Protection Program.

Barnett, who was based in Louisiana, was in South Carolina to offer evidence for legal proceedings linked to a defamation lawsuit against Boeing, which he claimed deliberately hurt his career and reputation because of allegations he’d made of grave safety breaches on the aircraft company’s production line.

“We are saddened by Mr. Barnett’s passing, and our thoughts are with his family and friends,” Boeing said in a statement to TIME.

The 62-year-old, who had worked at Boeing for over three decades as a quality control engineer and manager until his retirement in 2017, has for the past few years been outspoken about his skepticism of the company’s safety standards, which have come under heightened scrutiny in recent months amid a series of high-profile malfunctions on Boeing planes.

In 2019, just months after an Ethiopian Airlines Boeing 737 MAX 8 and a Lion Air Boeing 737 MAX both crashed minutes after takeoff, killing everyone on board, Barnett told the BBC that workers at one Boeing factory had been deliberately fitting faulty parts to planes to meet production deadlines, and that oxygen masks on the 787 Dreamliner had a 1-in-4 chance of failing during an emergency. Barnett said he had alerted Boeing managers as well as the FAA to the concerns but that no action had been taken. Boeing denied his allegations, though it acknowledged that an inspection in 2017 found that some oxygen bottles were in fact not deploying properly.

Barnett also told the New York Times in 2019 that he was once reprimanded for documenting “process violations” via email instead of face to face, which he took to mean the company didn’t want him putting problems in writing. In a 2014 performance review seen by the Times, Barnett’s manager told him that he had to improve at “working in the gray areas and help find a way while maintaining compliance.”

In January, the plane manufacturer made headlines again when an Alaska Airlines Boeing 737 MAX 9 made an emergency landing shortly after takeoff in Portland after one of its emergency exit doors blew out mid-air, causing passengers’ belongings to fly out of the hole and pressure on the plane to be destabilized. While no one was seriously hurt by the blowout, much of it thanks to luck—the seats nearest to the hole were unoccupied and most passengers were strapped in their seats when it happened—three passengers on the flight are suing the airline and Boeing for $1 billion, arguing that they’ve suffered severe psychological distress due to negligence.

Alaska Airlines temporarily grounded its fleet of Boeing 737-9 planes immediately after the accident and greenlit them to fly again just weeks later. But Barnett told TMZ at the time that Boeing’s troubles weren’t isolated to one door plug—or one plane.

“This is not a 737 problem,this is a Boeing problem,” he said, adding that Boeing started removing inspection operations in 2012. “What we’re seeing with the door plug blowout is what I’ve seen with the rest of the airplane as far as jobs not being completed properly, inspection steps being removed, issues being ignored.”

Controversy surrounding the Alaska Airlines incident is still mounting, with the Wall Street Journal reporting last week that the Justice Department has opened a criminal investigation into the case. And Boeing, which was accused of not being cooperative with federal investigators, admitted to Congress on Friday that it could not find records on the exploded door panel.

The FAA said earlier this month that a six-week audit of Boeing and subcontractor Spirit AeroSystems in the wake of the Alaska Airlines incident “found multiple instances where the companies allegedly failed to comply with manufacturing quality control requirements.”

On Monday, more than 50 passengers were injured after a LATAM Airlines Boeing 787 bound for New Zealand from Australia plummeted mid-air, throwing passengers out of their seats, in what the carrier said was a “technical event” and is now under investigation.

As its reputation has sunk, so has Boeing’s stock price—dropping by more than 26% since the start of the year, per NASDAQ.

“Once you understand what’s happening inside of Boeing, you’ll see why we’re seeing these kinds of issues,” Barnett told the Australian Broadcasting Corporation in January.

<<<



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>>> FAA Audit of Boeing’s 737 Max Production Found Dozens of Issues


New York Times

by Mark Walker

March 12, 2024


https://www.yahoo.com/news/faa-audit-boeing-737-max-112515300.html


WASHINGTON — A six-week audit by the Federal Aviation Administration of Boeing’s production of the 737 Max jet found dozens of problems throughout the manufacturing process at the plane maker and one of its key suppliers, according to a slide presentation reviewed by The New York Times.

The air-safety regulator initiated the examination after a door panel blew off a 737 Max 9 during an Alaska Airlines flight in early January. Last week, the agency announced that the audit had found “multiple instances” in which Boeing and the supplier, Spirit AeroSystems, failed to comply with quality-control requirements, though it did not provide specifics about the findings.

The presentation reviewed by the Times, though highly technical, offers a more detailed picture of what the audit turned up. Since the Alaska Airlines episode, Boeing has come under intense scrutiny over its quality-control practices, and the findings add to the body of evidence about manufacturing lapses at the company.

For the portion of the examination focused on Boeing, the FAA conducted 89 product audits, a type of review that looks at aspects of the production process. The plane maker passed 56 of the audits and failed 33 of them, with a total of 97 instances of alleged noncompliance, according to the presentation.

The FAA also conducted 13 product audits for the part of the inquiry that focused on Spirit AeroSystems, which makes the fuselage, or body, of the 737 Max. Six of those audits resulted in passing grades, and seven resulted in failing ones, the presentation said.

At one point during the examination, the air-safety agency observed mechanics at Spirit using a hotel key card to check a door seal, according to a document that describes some of the findings. That action was “not identified/documented/called-out in the production order,” the document said.

In another instance, the FAA saw Spirit mechanics apply liquid Dawn soap to a door seal “as lubricant in the fit-up process,” according to the document. The door seal was then cleaned with a wet cheesecloth, the document said, noting that instructions were “vague and unclear on what specifications/actions are to be followed or recorded by the mechanic.”

Asked about the appropriateness of using a hotel key card or Dawn soap in those situations, a spokesperson for Spirit, Joe Buccino, said the company was “reviewing all identified nonconformities for corrective action.”

Boeing did not immediately comment on the results of the audit. In late February, the FAA gave the company 90 days to develop a plan for quality-control improvements. In response, its CEO, Dave Calhoun, said that “we have a clear picture of what needs to be done,” citing in part the audit findings.

Boeing said this month that it was in talks to acquire Spirit, which it spun off in 2005. Buccino said Monday that Spirit had received preliminary audit findings from the FAA and planned to work with Boeing to address what the regulator had raised. He said Spirit’s goal was to reduce to zero the number of defects and errors in its processes.

“Meanwhile, we continue multiple efforts undertaken to improve our safety and quality programs,” Buccino said. “These improvements focus on human factors and other steps to minimize nonconformities.”

The FAA said it could not release specifics about the audit because of its ongoing investigation into Boeing in response to the Alaska Airlines episode. In addition to that inquiry, the National Transportation Safety Board is investigating what caused the door panel to blow off the plane, and the Justice Department has begun a criminal investigation.

During the FAA’s examination, the agency deployed as many as 20 auditors at Boeing and roughly half a dozen at Spirit, according to the slide presentation. Boeing assembles the 737 Max at its plant in Renton, Washington, while Spirit builds the plane’s fuselage at its factory in Wichita, Kansas.

The audit at Boeing was wide ranging, covering many parts of the 737 Max, including its wings and an assortment of other systems.

Many of the problems found by auditors fell in the category of not following an “approved manufacturing process, procedure or instruction,” according to the presentation. Some other issues dealt with quality-control documentation.

One audit dealt with the component that blew off the Alaska Airlines jet, known as a door plug. Boeing failed that check, according to the presentation. Some of the issues flagged by that audit related to inspection and quality-control documentation, though the exact findings were not detailed in the presentation.

The FAA’s examination also explored how well Boeing’s employees understood the company’s quality-control processes. The agency interviewed six company engineers and scored their responses, and the overall average score came out to only 58%.

One audit at Spirit that focused on the door plug component found five problems. One of those problems, the presentation said, was that Boeing “failed to provide evidence of approval of minor design change under a method acceptable to the FAA.” It was not clear from the presentation what the design change was.

Another audit dealt with the installation of the door plug, and it was among those that Spirit failed. The audit raised concerns about the Spirit technicians who carried out the work and found that the company “failed to determine the knowledge necessary for the operation of its processes.”

Other audits that Spirit failed included one that involved a cargo door and another that dealt with the installation of cockpit windows.

<<<



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>>> Military's Ospreys are cleared to return to flight, 3 months after latest fatal crash in Japan


by TARA COPP and MARI YAMAGUCHI

Associated Press

3-8-24


https://www.msn.com/en-us/news/us/military-s-ospreys-are-cleared-to-return-to-flight-3-months-after-latest-fatal-crash-in-japan/ar-BB1jy83b


WASHINGTON (AP) — The Osprey, a workhorse aircraft vital to U.S. military missions, has been approved to return to flight after an “unprecedented” part failure led to the deaths of eight service members in a crash in Japan in November, Naval Air Systems Command announced Friday.

The crash was the second fatal accident in months and the fourth in two years. It quickly led to a rare fleet-wide grounding of hundreds of Ospreys across the Marine Corps, Air Force and Navy.

Before clearing the Osprey, which can fly like an airplane and then convert to a helicopter, officials said they put increased attention on its proprotor gearbox, instituted new limitations on how it can be flown and added maintenance inspections and requirements that gave them confidence it could safely return to flight.

The entire fleet was grounded Dec. 6, just a week after eight Air Force Special Operations Command service members were killed when their CV-22B Osprey crashed off Yakushima island.

Before lifting the flight restrictions the military also briefed officials in Japan, where public opinion on the Osprey is mixed, on the crash findings and new safety measures. In a statement Friday, Japan defense minister Minoru Kihara said his nation would likewise return its 14 Ospreys to flight status following an "adequate” analysis of the cause of the crash, extremely detailed information on the accident and the steps to mitigate the issue in the future.

Kihara said Japan and the United States will closely coordinate the timeline for resuming flights in Japan, to give the government time to “thoroughly” explain the issue to its citizens.

However, Okinawa Gov. Denny Tamaki did not support the return to flight. Okinawa is home to Marine Corps Air Station Futenma and its 24 MV-22B Ospreys and is where the public has been most vocal in its opposition to the aircraft.

“It would be best if they stay on the ground, as we have all along requested scrapping of the Osprey deployment,” Tamaki said.

Officials who briefed reporters Wednesday ahead of the flight restrictions lifting said that they quickly grounded the entire fleet in December because it became clear that the way the Osprey part failed in that crash was something they had not seen before on the tiltrotor aircraft.

While the officials did not identify the specific component, because the Air Force's crash investigation is still not completed, they said they now have a better — but not complete — understanding of why it failed.

“This is the first time that we’ve seen this particular component fail in this way. And so this is unprecedented,” said Marine Corps Col. Brian Taylor, V-22 joint program manager at Naval Air Systems Command, or NAVAIR, which is responsible for the V-22 program servicewide.

However, the decision by the Department of Defense to return to flight before separate congressional investigations on the Osprey program are complete drew criticism from the chair of the House Oversight Committee.

“DoD is lifting the Osprey grounding order despite not providing the Oversight Committee and the American people answers about the safety of this aircraft,” said Rep. James Comer, a Kentucky Republican. “Serious concerns remain, such as accountability measures put in place to prevent crashes, a general lack of transparency, how maintenance and operational upkeep is prioritized, and how DoD assesses risks.”

A former Osprey pilot familiar with the investigation confirmed that the component in question is part of the proprotor gearbox, a critical system that includes gearing and clutches that connect the Osprey’s engine to the rotor to turn it.

The services have done a “deep dive” into the proprotor gearbox, and the new safety measures “will address the issues we saw from that catastrophic event,” the head of Air Force Special Operations Command, Lt. Gen. Tony Bauernfeind, said Wednesday.

“I have confidence that we know enough now to return to fly,” he said.

The proprotor gearbox system as a whole is a recurring trouble spot for the Osprey. Service safety data obtained by The Associated Press show dozens of instances among the Marine Corps and Air Force Ospreys in which power surges, sudden loss of oil pressure due to leaks, engine fires or chipping — when the metal components inside the gearbox shed sometimes dangerous metal chips — have damaged the proprotor gearbox in flight, sometimes requiring emergency landings.

Other components of the proprotor gearbox, including the sprag clutch and input quill assembly, have been factors in previous crashes, and the services have made changes, such as replacing those parts on a more frequent basis.

The services are also looking closely at the material that the failed part is made of and how it is manufactured, Bauernfeind said. NAVAIR is also running further tests to give the services more insight into why the component failed.

“It was a single component that failed in such a way that led to catastrophic consequences,” Bauernfeind said.

After that testing is complete, he said, some of the operational safety controls now placed on the Osprey may be lessened “to give us greater flexibility with the platform."

The investigation, known as an accident investigation board, will be made public and is expected to be completed within the next two months.

The proprotor gearbox failure was first reported by NBC News.

Crews have not flown now for more than 90 days — a factor that will make their return to flight more dangerous. The services said Wednesday they are taking a cautious approach that could last from 30 days to several months to retrain their crews before their Osprey squadrons are back to normal flight operations.

The Osprey has been in development for four decades but only became operational in 2007. The U.S. military has flown the Osprey about 750,000 hours and relied on its ability to fly long distances quickly like a plane and then convert to a helicopter to conduct operations in the Middle East and Africa, where some Marine Corps squadrons received an exemption to the flight ban because it was so critical to the mission.

In future needs to counter China, the military has planned on using the Osprey in the Indo-Pacific to operate throughout islands that lack the airfields necessary for traditional aircraft.

But it has also been a controversial, first-generation design of military tiltrotor technology that has recorded more than 14 major accidents that have killed 59 people and in some instances led to the loss of the aircraft, which costs between $70 million and $90 million depending on the variant.

None of the services is planning on new production orders of the V-22, which is produced by a joint venture between Bell Flight and Boeing. The Army has contracted with Bell Flight to buy the Osprey’s successor, the Bell V-280 Valor, which is a tiltrotor like the Osprey but smaller and with an important design change — the engines stay in a fixed, horizontal position. On the Osprey, the rotors and entire nacelle that houses the engine and proprotor gearbox tilt to a vertical position when it flies in helicopter mode.

The Marine Corps operates the vast majority of the Ospreys, with more than 240 currently assigned to its 17 squadrons. Its aviation mission is dependent on the aircraft returning to flight, and the Marine Corps is committed to the Osprey remaining in its fleet through the 2050s, said Marine Corps assistant deputy commandant for aviation Brig. Gen. Richard Joyce.

“There is no taking our eye off of V-22 and the years of service life that it has in front of us,” Joyce said.

The Air Force, which has the second most Ospreys in the fleet, with about 50 assigned to its special operations mission, however, suggested on Wednesday it may start to consider other options.

The early concepts for the Osprey date back to the 1980s, when the Iran hostage crisis exposed a need to have an airframe that could move fast and hover or land like a helicopter, Bauernfeind said.

And it’s met that need quite well, but it is still an older platform, he said. “I do think that it’s time for us to start talking about what is that next generation of capability that can replace what the V-22 does.”

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Intuitive Machines (LUNR) - >>> Lunar Lander Feared to Have Tipped While Reaching the Moon


Bloomberg

by Loren Grush and Richard Clough

Feb 23, 2024


https://finance.yahoo.com/news/lunar-lander-feared-tipped-while-223225056.html


(Bloomberg) -- The American-made lander that touched down on the moon likely landed on its side, officials said, raising questions about the historic mission.

Intuitive Machines Inc., the Houston-based maker of the spacecraft, said in a press briefing late Friday it’s still downloading data from the vehicle. The company also said the lander still has “quite a bit of operational capability” and is able to charge.

The complication could be a setback for Intuitive Machines and partner NASA, which initially declared the vehicle was upright. The landing was lauded as the first private-sector lander to reach the moon intact, breaking a string of failures by other companies.

The mission had already faced a hurdle prior to touching down, when the company learned that lasers designed to navigate the moon’s terrain weren’t working properly. Intuitive Machines switched to a NASA lidar instrument and sent the lander on an extra lap around the moon to upload a software patch to boost the lidar’s capability.

Intuitive Machines said it incorrectly believed the lander was upright on Thursday due to faulty data. The vehicle possibly ended up on its side because it reached the lunar surface moving too quickly horizontally. As a result, it could have caught its leg on something and broke it.

The revelation sent the company’s shares plunging as much as 39% after regular trading in New York.

The vehicle, a Nova-C lander nicknamed Odysseus, was carrying carrying six payloads for NASA and five from commercial customers, including sculptures from artist Jeff Koons. One payload, with the sculptures, is facing the moon’s surface. However, the “active” payloads are exposed to space, which was “fortunate,” according to the company.

NASA may still struggle to get all the measurements it needs for the payloads due to the vehicle’s orientation, the space agency said. A solar panel could have been damaged while some antennae on Odysseus are pointed toward the moon’s surface, limiting their ability to send some data back to Earth.

“That really is a limiter of our ability to communicate and get the right data down so that we get everything we need for the mission,” said Intuitive Machines Chief Executive Officer Stephen Altemus.

The Odysseus team expects to get more information about the health of the lander in the coming hours and days.

The development underscores the difficulty of landing a robotic craft on the uneven lunar surface. An Israeli nonprofit, SpaceIL, tried in 2019, but its craft came in too fast and crashed on the surface. Last year, Tokyo-based Ispace Inc. lost contact with its lander, which likely crashed. And in January, Pittsburgh-based Astrobotic’s lander suffered engine failure just after reaching space.

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>>> Intuitive Machines, Inc. (LUNR) designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers µNova, a lunar rocket-fueled drone, lunar surface rover services, fixed lunar surface services, rideshare delivery services, lunar access services, lunar orbit delivery services, and lunar data network services, as well as content sales and marketing. It also offers aerospace engineering services to NASA and the aerospace industry. Intuitive Machines, Inc. was founded in 2013 and is based in Houston, Texas.

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>>> Iran launches 3 satellites into space that are part of a Western-criticized program as tensions rise


By JON GAMBRELL

Associated Press

1-28-24


https://www.msn.com/en-us/news/world/iran-launches-3-satellites-into-space-that-are-part-of-a-western-criticized-program-as-tensions-rise/ar-BB1hn1vw?OCID=ansmsnnews11


JERUSALEM (AP) — Iran said Sunday it successfully launched three satellites into space with a rocket that had multiple failures in the past, the latest for a program that the West says improves Tehran's ballistic missiles.

The launch comes as heightened tensions grip the wider Middle East over Israel’s continued war on Hamas in the Gaza Strip, sparking fears of a regional conflict.

While Iran has not intervened militarily in the conflict, it has faced increased pressure within its theocracy for action after a deadly Islamic State suicide bombing earlier this month and as proxy groups like Yemen's Houthi rebels conduct attacks linked to the war. Meanwhile, Western nations remain worried about Iran's rapidly expanding nuclear program.

Footage released by Iranian state television showed a nighttime launch for the Simorgh rocket. An Associated Press analysis of the footage showed that it took place at the Imam Khomeini Spaceport in Iran’s rural Semnan province.

“The roar of the Simorgh (rocket) resonated in our country’s sky and infinite space," said Abbas Rasooli, a state TV reporter, in the footage.

State TV named the launched satellites Mahda, Kayhan-2 and Hatef-1. It described the Mahda as a research satellite, while the Kayhan and the Hatef were nanosatellites focused on global positioning and communication respectively. Iran's Information and Communications Technology Minister Isa Zarepour said the Mahda had already sent signals back to Earth.

There have been five failed launches in a row for the Simorgh program, a satellite-carrying rocket. The Simorgh, or “Phoenix,” rocket failures have been part of a series of setbacks in recent years for Iran's civilian space program, including fatal fires and a launchpad rocket explosion that drew the attention of former U.S. President Donald Trump.

The footage showed the rocket launched Sunday bore the slogan “We Can" in Farsi, likely referring to the previous failures.

The Simorgh is a two-stage, liquid-fueled rocket the Iranians described as being designed to place satellites into a low Earth orbit.

However, the U.S. intelligence community’s 2023 worldwide threat assessment said the development of satellite launch vehicles “shortens the timeline” for Iran to develop an intercontinental ballistic missile because it uses similar technology. That report specifically cites the Simorgh as a possible dual-use rocket.

The United States has previously said Iran’s satellite launches defy a U.N. Security Council resolution and called on Tehran to undertake no activity involving ballistic missiles capable of delivering nuclear weapons. U.N. sanctions related to Iran’s ballistic missile program expired last October.

Under Iran’s relatively moderate former President Hassan Rouhani, the Islamic Republic slowed its space program for fear of raising tensions with the West. However, in the time since, the 2015 nuclear deal Rouhani shepherded with world powers has collapsed and tensions have been boiling for years with the U.S.

Hard-line President Ebrahim Raisi, a protégé of Supreme Leader Ayatollah Ali Khamenei who came to power in 2021, has pushed the program forward. Meanwhile, Iran enriches uranium closer than ever to weapons-grade levels and enough material for several atomic bombs, though U.S. intelligence agencies and others assess Tehran has not begun actively seeking a nuclear weapon.

On Friday, France, Germany and the United Kingdom condemned an Iranian satellite launch on Jan. 20, similarly calling it capable of helping Iran develop long-range ballistic missiles.

“We have longstanding concerns over Iran’s activity related to ballistic missile technologies that are capable of delivering nuclear weapons,” the countries said. “These concerns are reinforced by Iran’s continued nuclear escalation beyond all credible civilian justification.”

Tehran maintains the largest arsenal of ballistic missiles in the Mideast, in part due to decades of sanctions following its 1979 Islamic Revolution and the U.S. Embassy hostage crisis blocking it from advanced fighter jets and other weapon systems.

The U.S. military and the State Department did not immediately respond to requests for comment Sunday. However, the U.S. military has quietly acknowledged the Jan. 20 launch conducted by the country's paramilitary Revolutionary Guard was successful.

Meanwhile Sunday, the United Kingdom's Defense Ministry acknowledged one of its warships shot down a drone launched by the Houthi rebels from Yemen. The HMS Diamond shot down the drone with its Sea Viper missile system in the Red Sea, causing no damage or injuries, it said.

“These intolerable and illegal attacks are completely unacceptable and it is our duty to protect the freedom of navigation in the Red Sea,” the Defense Ministry said in a statement.

The Houthis did not acknowledge the attack. The rebels have said U.S. and British ships are now targets in their campaign of attacks that they say is aimed at pressuring Israel to stop the war on Hamas in the Gaza Strip. However, their attacks increasingly have tenuous or no links to the war and have disrupted international trade.

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>>> Shutting down the International Space Station: NASA's bold plans to land outpost in ocean


by Eric Lagatta

USA TODAY

January 16, 2024


https://www.yahoo.com/news/shutting-down-international-space-station-175525258.html


The International Space Station has been continuously occupied by spacefarers from countries around the world for the last two decades, but it's time among the cosmos won't last forever.

Even now, NASA is laying the groundwork for plans to safely deorbit and land the low-Earth orbit space station, the largest of its kind ever built.

Private companies have until Feb. 12 to submit design proposals for "a new or modified spacecraft using a large amount of propellant" that in the years ahead, will be tasked with docking with the space station and safely crashing it into an ocean. NASA plans to award the contract in June for the vehicle, which will be deployed upon the space station's impending retirement in 2030.

What is the International Space Station?

Designed and operated thanks to a global partnership of space agencies, the International Space Station has been home to crews of astronauts, cosmonauts and plenty of others since November 2000, NASA says.

More than 260 spacefarers from 20 countries have visited to the International Space Station, including 163 from the United States alone, according to the U.S. space agency.

Crew members who live and conduct scientific experiment aboard the space station orbit Earth 16 times a day. The orbital outpost is larger than a six-bedroom house with six sleeping quarters, two bathrooms, a gym, and a 360-degree view bay window, according to NASA.

Since 1998, more than 260 spacewalks have been conducted at the International Space Station, including a rare all-female spacewalk in November.

In September, a U.S. military astronaut named Frank Rubio was stationed aboard the space outpost when he made history as the American with longest consecutive spaceflight. Rubio spent a U.S. record of 371 days in space after the capsule meant to ferry him back to Earth, a Russian Soyuz, sprang a coolant leak in 2022, which doubled his stay.

The current Expedition 70 crew began their stint in late-September and are scheduled to land in spring. While aboard the station, the seven astronauts and cosmonauts have been conducting a variety scientific experiments and studying an array of microgravity phenomena.

What is the timeline for ending the International Space Station?

Decommissioning the aging cosmic outpost is the shared responsibility of the five space agencies that have operated it since 1998: the United States, Russia, Europe, Japan, and Canada.

All of those nations have committed to supporting the International Space Station operations through 2030 with the exception of Russia, which has agreed to keep going only until 2028, according to NASA.

How will NASA land the space station?

NASA examined several options for decommissioning the International Space Station, including disassembling it while in orbit, boosting it to a higher orbit and allowing it to decay naturally before randomly re-entering Earth's atmosphere.

Many of those options presented "significant logistical and financial challenges" for a space station as large as an American football field, NASA said.

Its modules and truss structure were not designed to be easily disassembled in space, while allowing for an unplanned atmospheric re-entry posed too much of a threat to populated areas. Further, objects that are retired to the safer high "graveyard" orbits are typically smaller satellites, not massive outposts, NASA said.

Such considerations were why the space agency decided that a controlled, targeted re-entry ending in a crash landing into a remote ocean was the safest route.

Whichever private aerospace company is selected by NASA will build a deorbiting craft capable of performing a "propulsive maneuver" to line up the re-entry path into the desired uninhabited waters.

Many of the space station's modules and hardware are expected to burn up, melt away or vaporize upon re-entry. The denser and heat-resistant components that may survive the plunge will splash down into the ocean, where they are expected to harmlessly sink to the ocean floor, according to NASA.

What comes after the ISS?

In the months and years ahead, the United States will shift its focus to commercial operations and contracted missions.

That includes funding and enabling private industry to develop commercially-owned-and-operated space stations, NASA says.

"It is NASA’s goal to be one of many customers in a robust commercial marketplace in low Earth orbit where in-orbit destinations as well as cargo and crew transportation, are available as services to the agency," NASA said in an explanation of its transition plan.

Partnering more often with private industry will hopefully free up NASA to focus on building spacecraft and rockets for deep space missions, including human missions to the moon and Mars.

Artemis moon mission delayed another year

As part of its ongoing Artemis program, the agency had hopes of sending a group of spacefarers on a 10-day trip circumnavigating the moon as early as November. However, the target date for Atemis II was pushed back last week to no earlier than 2025 "to allow teams to work through challenges associated with first-time developments, operations, and integration," NASA said in a statement.

The mission would pave the way for Artemis III, when another group of astronauts will venture to land on the lunar surface itself. That mission, which has experienced setbacks, was also delayed until no earlier than 2026.

The announcement came on the heels of the news that the first American attempt to land a commercial spacecraft on the lunar surface would likely be unsuccessful. NASA spent tens of millions of dollars for a spot for its scientific cargo on Pittsburgh-based Astrobotic's Peregrine spacecraft, which faltered on its journey to the moon when it encountered an issue with its propulsion system.

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Fuselage Plug -- >>> Nearly all modern transport aircraft are designed with a plug-system fuselage, allowing longer and shorter variants to be built by adding or removing plugs.

In addition, the plug system simplifies construction, as large sections of the aircraft can be assembled from modular parts. <<<


https://aviation.stackexchange.com/questions/56001/what-was-the-first-aircraft-designed-with-a-plug-system-fuselage-and-why



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>>> FAA orders temporary grounding of 737 MAX 9 aircraft after fuselage plug on Alaska Airlines appears to blow off in flight


CNN

by By Sara Smart, Sharif Paget, Pete Muntean and Raja Razek


https://www.msn.com/en-us/travel/other/alaska-airlines-flight-makes-emergency-landing-in-portland-after-window-appears-to-have-blown-out-after-takeoff/ar-AA1mxl2q


The Federal Aviation Administration on Saturday ordered the temporary grounding of Boeing 737 Max 9 aircraft, the model involved in an Alaska Airlines emergency landing in Oregon on Friday after a section of the plane apparently blew out in midflight.

The FAA said the planes must be parked until emergency inspections are performed, which will “take around four to eight hours per aircraft.”

“The FAA is requiring immediate inspections of certain Boeing 737 MAX 9 planes before they can return to flight,” FAA Administrator Mike Whitaker said Saturday in a statement. “Safety will continue to drive our decision-making as we assist the (National Transportation Safety Board’s) investigation into Alaska Airlines Flight 1282.”

The order impacts 171 Boeing 737 Max 9 jets, the agency approximates.

Alaska Airlines flight 1282, which was headed from Portland to Ontario, California, returned safely to Portland International Airport around 5 p.m. PT after “the crew reported a pressurization issue,” the FAA said.

A panel of the fuselage, including the panel’s window, popped off shortly after takeoff, passenger Kyle Rinker told CNN.

“It was really abrupt. Just got to altitude, and the window/wall just popped off and didn’t notice it until the oxygen masks came off,” Rinker said.

Firefighters were called to assess minor injuries after the landing, and no serious injuries were reported, the Port of Portland Fire Department said.

A passenger’s video posted to social media shows a side section of the fuselage, where a window would have been, missing – exposing passengers to the outside air. The video, which appears to have been taken from several rows behind the incident, shows oxygen masks deployed throughout the airplane, and least two people sitting near and just behind the missing section.

Boeing said the company supported the FAA’s grounding decision.

“Safety is our top priority and we deeply regret the impact this event has had on our customers and their passengers,” Boeing said in a statement. “We agree with and fully support the FAA’s decision to require immediate inspections of 737-9 airplanes with the same configuration as the affected airplane.”

In a statement late Friday, Alaska Airlines said it was working with Boeing to understand what took place on Flight 1282. The aircraft is a 737 Max 9 that received its certificate of airworthiness on October 25, 2023, according to the FAA.

The airline’s grounded fleet of 65 Boeing 737-9 aircraft is expected to undergo full maintenance and safety inspections over the next several days before being returned to service, the airline said.

United also said it has also suspended service on select Boeing 737 Max 9 aircraft to conduct the FAA-required inspection. “We are working directly with impacted customers to find them alternative travel options,” United said in a statement. “Removing certain MAX 9 aircraft from service is expected to cause about 60 cancellations today.”

“My heart goes out to those who were on this flight – I am so sorry for what you experienced,” Alaska Airlines CEO Ben Minicucci said in a statement.

Though the airline has acknowledged an incident on Friday’s Flight 1282, it has not detailed what the incident entailed. The plane “landed safely back at Portland International Airport with 171 guests and six crew members,” the airline said.

According to FlightAware, the flight was airborne for about 20 minutes. The plane departed from Portland International Airport around 5:07 p.m. local time and landed at 5:27 p.m.

‘A really loud bang… and a whoosh noise’

Evan Smith, a passenger on the flight, told CNN affiliate KPTV that he was sitting at least six rows in front of the section where the incident took place. “There was a really loud bang toward the rear of the plane and a whoosh noise and all of the masks dropped,” Smith said.

Emma Vu, another passenger, was asleep and woke up to a sensation of falling and seeing emergency masks drop down, she told CNN in a phone call. She apparently woke up after the panel section popped off; it wasn’t clear how close to the missing panel she was.

Vu said she texted her parents their code word for emergencies to let them know about the incident. “I’ve never had to use it before, but I knew that this was that moment,” Vu said.

People sitting on either side of her comforted her, she said. “The flight attendant came over too, and told me it was going to be OK,” Vu said. “The fact that everyone was kind of freaking out and she took that time to kind of make me feel like I was the only passenger – honestly that was really sweet.”

Vu plans to take a different flight to her intended destination on Saturday morning, she said.

The FAA and National Transportation Safety Board will investigate the incident, both agencies said.

In a statement to CNN, Boeing said it was aware of an incident involving Alaska Airlines Flight 1282 and was working to gather additional information.

Previous issues with Boeing’s 737 Max jets

CNN reported last month that Boeing has asked airlines to inspect all of their 737 Max jets for a potential loose bolt in the rudder system after an airline discovered a potential problem with a key part on two aircraft.

CNN transportation analyst Mary Schiavo said Saturday that issue probably had nothing to do with Friday’s incident. But, overall, the issues raise serious questions about Boeing quality control in manufacturing that the FAA must investigate, Schiavo said.

Boeing’s engineering and quality problems have posed major challenges for the company. The crashes of two of 737-8 Max jets that killed all 346 people on board the flights led to a crippling 20-month grounding of the plane. It also was one of the most expensive corporate tragedies in history, costing Boeing more than $20 billion.

The Max returned to the air carrying passengers in most markets around the globe beginning in late December 2020. But it has encountered other problems, including in April when Boeing said it has discovered a manufacturing issue with some 737 Max aircraft after a supplier used a “non-standard manufacturing process” during the installation of two fittings in the rear fuselage – although Boeing insisted the problem did not constitute a safety risk.

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Boeing MQ-25 Stingray -

Note - Seems like a fairly hard landing (1:43) -

>>> The world’s first certified passenger-carrying air taxi takes flight

Is this the future of urban transportation?


Fox News

By Kurt Knutsson

October 28, 2023


https://www.foxnews.com/tech/worlds-first-certified-passenger-carrying-air-taxi-takes-flight


Imagine flying over the city in a pilotless, electric-powered aircraft that can take you from point A to point B in minutes without a pilot onboard. Sounds like science fiction, right? Well, not anymore.

China-based Ehang has become the world’s first company to receive airworthiness certification for its fully autonomous, passenger-carrying air taxis.

What are electric air taxis?

Ehang’s EH216-S air taxis are electric vertical take-off and landing (eVTOL) aircraft that can carry up to two passengers or 600 pounds of cargo. They are powered by 16 electric rotors and can fly at speeds of up to 80 mph and distances of up to 18 miles.

How do electric air taxis operate without pilots?

The air taxis are controlled by a centralized command and control center that monitors the flight status, routes and weather conditions.

Passengers can simply select their destination on a touchscreen inside the cabin and enjoy the ride without worrying about piloting the aircraft.

The air taxis do not require traditional infrastructure such as airports or runways. They can take off and land vertically from any flat surface, such as a rooftop, parking lot, or park.





The air taxis use electric power to reduce environmental harm caused by emissions. They can be fully charged in two hours and have low noise levels.

The EH216-S vehicles have multiple redundancies in their systems, such as backup batteries, rotors, and communication links.

They also have emergency landing systems and parachutes in case of any malfunction.

How did these China-based electric air taxis get the approval to fly?

Since 2014, over 40,000 test flights have been conducted in various locations around the world. In January 2021, Ehang applied for a type certificate from the Civil Aviation Administration of China (CAAC), which is the official recognition of the airworthiness of an aircraft.

The CAAC evaluated Ehang’s air taxis for over 500 parameters, such as structural strength, software simulation, flight performance and electromagnetic compatibility. The process took more than 1,000 days and involved extensive laboratory, ground and flight tests.

On October 15, 2023, Ehang announced that it had received certification from the CAAC, making it the first company in the world to obtain such a certification for passenger-carrying eVTOL aircraft. This means that Ehang can now start commercial operations of its air taxis in China. As Ehang’s founder-chair and CEO Huazhi Hu said, "Embracing the certification as our springboard, we will launch commercial operations of the EH216-S air taxis, prioritizing safety above all."

What are the potential applications of electric air taxis?

Ehang's air taxis have a wide range of potential applications for urban air mobility (UAM), which uses aerial vehicles to provide transportation services in urban areas.

They can help you avoid traffic jams and save time on your commute. They can also take you to places that are hard to reach by car or public transportation. Whether you need to go to a business meeting, a tourist attraction or a hospital, Ehang's air taxis can get you there quickly and conveniently. Ehang's air taxis can also offer you a new perspective of the city with views of the skyline, landmarks and nature, all from above.

Beyond just transporting people, these aircraft can be used for delivering goods, such as packages, medical supplies or food. They can also be used for emergency situations, such as natural disasters or accidents. In those situations where time is of the essence, these vehicles could transport much-needed medical personnel or equipment to the scene quickly and safely.

What are the challenges for pilotless air taxis?

Ehang’s air taxis are a groundbreaking innovation that could revolutionize the future of transportation. However, they also face some challenges in terms of regulation, technology, market demand and social acceptance.

Ehang’s air taxis need to comply with the laws and regulations of different countries and regions where they might operate. They also need to coordinate with other aircraft that use the same airspace. Ehang has been working closely with regulators to establish standards and policies for UAM.

One big hurdle is working to gain social acceptance and trust from the public. The manufacturer needs to educate and inform us about the benefits and risks of UAM. It also needs to address the potential issues and concerns of noise, privacy and environmental impact. For its part, Ehang has been conducting public demonstrations and campaigns to raise awareness and confidence in UAM.

Kurt's key takeaways

Ehang’s air taxis are a pioneering achievement that could transform how we travel in cities across this country. By receiving the first industry approval for fully autonomous, passenger-carrying air taxis, Ehang has opened up new possibilities and opportunities for UAM. But with all new technology comes challenges, and those are what Ehang needs to tackle to be successful moving forward.

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>>> Lockheed Martin Corporation (NYSE:LMT) -- Goldman Sachs’ Stake Value: $566,208,511


https://www.insidermonkey.com/blog/goldman-sachs-defense-stocks-top-5-stock-picks-1190422/5/


Number of Hedge Fund Holders: 52

Lockheed Martin Corporation (NYSE:LMT) is a company specializing in defense and aerospace, and is organized into four segments – Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. It is the largest Goldman Sachs defense stock. Securities filings for Q2 2023 reveal that Goldman Sachs owned 1.2 million shares of Lockheed Martin Corporation (NYSE:LMT) worth $566.2 million.

On July 18, Lockheed Martin Corporation (NYSE:LMT) reported a Q2 non-GAAP EPS of $6.73 and a revenue of $16.7 billion, outperforming Wall Street estimates by $0.28 and $810 million, respectively.

According to Insider Monkey’s second quarter database, 52 hedge funds were long Lockheed Martin Corporation (NYSE:LMT), compared to 58 funds in the earlier quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the largest stakeholder of the company, with 791,700 shares worth $364.4 million.

Here is what Vltava Fund has to say about Lockheed Martin Corporation (NYSE:LMT) in its Q3 2022 investor letter:

“LMT is one of the world’s largest aerospace and defense companies. The war in Ukraine has reminded investors and the wider public just how important these companies are. The aerospace and defense industry in the USA is an established oligopoly. This means that a few large firms play a dominant role. While collectively they comprise an oligopoly, individually they often have monopoly positions in particular narrower segments. Their main counterparty is the US government, a key customer in what is known as a monopsonist position. This is a rather unusual situation, but one that is very advantageous for companies such as LMT.

LMT has a strong and long-term sustainable competitive advantage ensuing from the fact that its products are developed and manufactured at an extremely high level of technology and complexity, its development and contract cycles are measured in decades, and the costs for the government to switch to alternative suppliers are high. Moreover, part of the production is classified as secret, which further takes the wind out of the sails of potential competitors. This results in a very high return on capital and admittedly a slowly but steadily growing business.

In most NATO countries, which are LMT’s customers, defense outlays are based upon the size of GDP. This is currently growing very fast in nominal terms due to inflation in most countries. A number of countries have also announced significant increases in defense budgets, whether it be Germany, which aims to get to the NATO-agreed 2% of GDP, or Poland, which wants to spend more than twice as much on defense…”

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>>> General Electric Company (NYSE:GE) -- Goldman Sachs’ Stake Value: $443,959,690


https://www.insidermonkey.com/blog/goldman-sachs-defense-stocks-top-5-stock-picks-1190422/2/


Number of Hedge Fund Holders: 71

General Electric Company (NYSE:GE) operates as a high-tech industrial company worldwide. It offers gas and steam turbines, power generation solutions, and data-driven software for different sectors. Additionally, General Electric Company (NYSE:GE) designs and produces commercial and military aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It is one of the best Goldman Sachs defense stocks. In Q2 2023, Goldman Sachs held a $444 million stake in General Electric Company (NYSE:GE).

On July 25, General Electric Company (NYSE:GE) reported a Q2 non-GAAP EPS of $0.68 and a revenue of $16.7 billion, outperforming Wall Street consensus by $0.22 and $1.55 billion, respectively.

According to Insider Monkey’s second quarter database, 71 hedge funds were bullish on General Electric Company (NYSE:GE), up from 59 funds in the prior quarter. Chris Hohn’s TCI Fund Management is the leading stakeholder of the company, with 41.6 million shares worth $4.5 billion.

Vulcan Value Partners made the following comment about General Electric Company (NYSE:GE) in its Q1 2023 investor letter:

“General Electric Company (NYSE:GE) was a material contributor during the quarter. With the successful spin-off of GE HealthCare in early January, the company operates in two major markets: GE Aerospace and GE Vernova. GE Aerospace powers three out of every four commercial flights. GE Vernova helps generate 30% of the world’s electricity and has a meaningful role to play in the energy transition. The company’s service activities, which are higher margin and more resilient, represent approximately 60% of revenue and 85% of its backlog. The company reported strong fourth quarter 2022 results and management’s 2023 outlook is positive.”

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>>> General Dynamics Corporation (GD) -- Goldman Sachs’ Stake Value: $290,874,869


https://www.insidermonkey.com/blog/goldman-sachs-defense-stocks-top-5-stock-picks-1190422/


Number of Hedge Fund Holders: 46

General Dynamics Corporation (NYSE:GD) functions as a global aerospace and defense firm, conducting its operations across four main segments – Aerospace, Marine Systems, Combat Systems, and Technologies. It is one of the top Goldman Sachs defense stocks, with the firm holding a $290.8 million stake in the company.

On August 1, General Dynamics Corporation (NYSE:GD) declared a $1.32 per share quarterly dividend, in line with previous. The dividend is payable on November 10, to shareholders of record on October 6.

According to Insider Monkey’s second quarter database, 46 hedge funds were bullish on General Dynamics Corporation (NYSE:GD), compared to 43 funds in the last quarter. James A. Star’s Longview Asset Management is the leading position holder in the company, with 28.2 million shares worth just over $6 billion.

Here is what Oakmark Global Fund has to say about General Dynamics Corporation (NYSE:GD) in its Q1 2021 investor letter:

“The second new U.S. equity purchase was General Dynamics, a leading U.S. defense contractor and owner of the world’s premier business jet franchise (Gulfstream). We were able to purchase this high-quality and durable business at a meaningful discount to our estimate of its intrinsic value after a series of near-term concerns hurt its share price. Taking a longer term view, the company’s business jet franchise should benefit from a multi-year investment program in new, differentiated products. Also, its free cash flow conversion is set to improve materially and the company is poised to benefit from a highly visible ramp up in revenue related to next generation nuclear-powered submarines. As these positives come into clearer view, we expect sentiment to improve, along with the company’s share price.”

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>>> Northrop Grumman Corporation (NOC) - Goldman Sachs’ Stake Value: $273,998,676

https://finance.yahoo.com/news/goldman-sachs-defense-stocks-top-035112162.html

Number of Hedge Fund Holders: 40

Northrop Grumman Corporation (NOC) functions as a global aerospace and defense company. Its operations are divided into Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems segments. At the conclusion of the second quarter of 2023, Goldman Sachs held 601,138 shares of Northrop Grumman Corporation (NOC) worth approximately $274 million.

On August 16, Northrop Grumman Corporation (NOC) declared a quarterly dividend of $1.87 per share, in line with previous. The dividend is payable on September 13, to shareholders of record on August 28.

According to Insider Monkey’s second quarter database, 40 hedge funds were bullish on Northrop Grumman Corporation (NYSE:NOC), compared to 45 funds in the prior quarter. Donald Yacktman’s Yacktman Asset Management is a prominent stakeholder of the company, with 409,839 shares worth $186.80 million.

Like Lockheed Martin Corporation (LMT), RTX Corporation (RTX), and The Boeing Company (BA), Northrop Grumman Corporation (NOC) is one of the top Goldman Sachs defense stocks.

Harding Loevner Global Equity Strategy made the following comment about Northrop Grumman Corporation (NOC) in its Q1 2023 investor letter:

“Our other purchase was Northrop Grumman Corporation (NOC), a US defense contractor whose stock price experienced a pullback. We like that Northrop has a larger presence than its rivals in the most favorable subcategories of the defense industry-namely, nuclear weapons, space systems, and what’s known as C4ISR (which stands for Command, Control, Communications, Computers. Intelligence, Surveillance, and Reconnaissance). C4ISR refers to digital systems that translate data picked up from different sensors-such as an incoming hypersonic missile or advancing troops-into a common format, and then escalate key information to the right people. These differentiated technologies are especially relevant in a time of increased geopolitical tensions. Northrop also benefits from large barriers to entry in this stable industry, which should enable continued strong earnings and cash flow.”

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>>> RTX Corporation (RTX) -- Considering that RTX Corporation (NYSE:RTX) is near 52-week lows, it might be an opportunity to buy one of the best defense stocks. After announcing its second-quarter results, the stock declined by over 10%. The negative reaction was triggered by an issue with its Pratt & Whitney engines.


https://finance.yahoo.com/news/3-best-defense-stocks-buy-210423930.html


Reuters reported that RTX had discovered a defect in 1,200 engines. Microscopic contaminants in the powdered metal in high-pressure turbine discs could cause micro-cracks. As a result, the affected engines must be grounded for inspection over the next year. This was a setback for the company’s ambition to conquer the jet engine market.

But looking at the rest of the second quarter report, the results were impressive. Sales were up 12% YOY and 13% on an organic basis. The Collins Aerospace, Pratt & Whitney and Raytheon Missiles & Defense segments reported 17%, 15% and 12% YOY growth rates, respectively. Meanwhile, the total backlog was a healthy $185 billion — $112 billion commercial and $73 billion defense.

Net income from continuing operations was 1.3 billion, a 2% YOY increase. Additionally, adjusted EPS grew 11% YOY to $1.29. The company also repurchased $596 million of RTX shares in the quarter.

Management highlighted the strong momentum and raised their outlook. “Based on the strong performance year-to-date and strong end-markets, we are raising our full year sales outlook and tightening our adjusted EPS* outlook,” said CEO Greg Hayes.

For FY2023, management expects adjusted EPS of $4.95 – $5.05. Considering a midpoint EPS of 5, the stock trades at 16 times forward price-to-earnings. Buy the world’s largest aerospace and defense company at these bargain prices.

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>>> Lockheed Martin’s (LMT), a Maryland-based defense giant, is a critical defense supplier for the U.S. and its allies. The company develops and manufactures advanced military aircraft. In addition, it provides air-to-ground precision strike weapon systems, tactical missiles and air and missile defense systems.


https://finance.yahoo.com/news/3-best-defense-stocks-buy-210423930.html


Lockheed Martin’s F-35 program will be a key growth driver. In 2022, the F-35 program accounted for 27% of total sales and 66% of the Aeronautics segment’s net sales. Given the rising U.S.-China tensions, the U.S. and its allies are banking on F35 fighter jets to bolster their defenses.

There are reasons for optimism after the debt ceiling deal met President Joe Biden’s $886 billion request for fiscal year 2024. As a result, the F-35 will receive funding to produce 83 F-35 aircraft. Besides, there is increasing interest from allies. For instance, Israel recently approved the purchase of 25 F-35 jets.

As orders increase, revenue growth is accelerating. In the second quarter of FY2023, the aeronautics segment grew sales 17% year-over-year. The increase was mainly due to a rise in production contracts.

Looking at the Missiles and Fire Control segment, sales were flat. While the year-over-year growth was disappointing, the backlog trend was positive. The segment recorded a backlog increase of $5.3 billion to close the quarter at $34 billion.

With a record backlog and growing revenues, the company is in a strong position to return capital to shareholders. It has a strong record of shareholder returns, having repurchased 21% of its outstanding shares in the last 10 years. Additionally, it has increased its dividend for 20 consecutive years.

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>>> Joby Delivers First eVTOL Aircraft to Edwards Air Force Base Ahead of Schedule


Business Wire

September 25, 2023


https://finance.yahoo.com/news/joby-delivers-first-evtol-aircraft-120000560.html


Joby Aircraft Becomes First Electric Air Taxi Delivered to the U.S. Air Force

Believed to be the First Electric Air Taxi Delivered in the U.S.

Aircraft will be Used to Demonstrate Logistics Missions on Base, Flown by U.S. Air Force Pilots

Delivery is Part of Joby’s $131 Million Contract with the DOD


SANTA CRUZ, Calif. & EDWARDS AIR FORCE BASE, Calif., September 25, 2023--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric vertical take-off and landing (eVTOL) aircraft for commercial passenger service, today announced it has delivered its first aircraft to Edwards Air Force Base approximately six months ahead of the expected 2024 delivery date. On-base operations with Joby aircraft will be used to demonstrate a range of logistics missions, including cargo and passenger transportation, and will be operated by both Joby and U.S. Air Force personnel. In partnership with the U.S. Air Force, NASA will also use the aircraft for research focused on how these aircraft could fit into the national airspace, benefiting the entire air taxi industry.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230925596439/en/


Joby’s aircraft, which has already begun flying at Edwards AFB, is the first electric air taxi to be stationed on a U.S. military base and is believed to be the first delivery of an electric air taxi in the U.S., as part of Joby’s $131 million AFWERX Agility Prime contract with the U.S. Air Force. Joby’s current and previously completed work with the Department of Defense represents a total potential contract value of $163 million, the largest in the industry.

The Agility Prime contract includes the provisioning of up to nine aircraft to the U.S. Air Force and other federal agencies, reinforcing the U.S. government’s continued leadership in developing and adopting eVTOL technology, and ushering in a new era of electric aviation. A second aircraft is planned to be delivered to Edwards in early 2024.

The aircraft, which was the first built on Joby’s Pilot Production Line in Marina, CA, will be stationed at Edwards Air Force Base for at least the next year, with charging and ground support equipment provided on-base by Joby in a facility purpose-built by the Air Force for joint flight test operations. The U.S. Air Force and Joby will conduct joint flight testing and operations to demonstrate the aircraft’s capabilities in realistic mission settings. On-base operations will also include the training of Air Force pilots and aircraft maintenance crews, which will provide the DOD with valuable insight into the performance of eVTOL aircraft and will give Joby on-the-ground operational and training experience as the company prepares for the launch of commercial passenger service in 2025.

"We’re proud to join the ranks of revolutionary aircraft that first demonstrated their capabilities at Edwards Air Force Base, including the first American jet fighter, the first supersonic aircraft, and many others that have pushed the boundaries of aviation technology," said JoeBen Bevirt, Founder and CEO of Joby.

"The longstanding support of the DOD and NASA has been critical to the rapid development of electric aviation and eVTOL aircraft, and demonstrates how successful public-private partnerships can bring new technology to life at speed. Their work will have profound implications for continued American leadership in both commercial and defense aerospace technology," he added.

Joby’s partnership with the DOD dates back to its 2016 engagement with the Defense Innovation Unit (DIU), which granted the company early funding as well as access to test ranges and expertise that have aided its aircraft development program.

"Agility Prime’s stated objective in 2020 was to work towards an operational capability for transformative vertical lift in the DoD by 2023. The arrival of Joby’s aircraft at Edwards AFB is an important step towards achieving this objective," said Col Elliott Leigh, AFWERX director and Chief Commercialization Officer for the Department of the Air Force.

"The delivery of this first eVTOL aircraft is the start of a new chapter in Edwards’ rich aerospace history," notes Maj Phillip Woodhull, director, Emerging Technologies Integrated Test Force. "This partners private industry with the 412th Test Wing’s world-renowned test management execution. We are excited to agilely test, experiment with, and evaluate this new technology for potential future national defense applications."

In partnership with the U.S. Air Force’s AFWERX program, NASA will also be supporting this testing at Edwards Air Force Base with NASA’s pilots, researchers, and equipment as part of their commitment to advancing the Advanced Air Mobility industry as a whole, for the benefit of all. NASA’s Armstrong Flight Research Center is located on Edwards Air Force Base, and has a long history of supporting important technological milestones in aviation and space – supersonic and hypersonic flight, digital fly-by-wire control systems, and the space shuttles.

"NASA’s participation in the Joby and AFWERX project will provide our researchers with hands-on experience with a representative eVTOL vehicle, concentrated on how these types of aircraft could fit into the national airspace for everyday use, that will inform NASA’s effort in supporting the entire eVTOL industry," said NASA research pilot Wayne Ringelberg. "The research will include a focus on handling qualities evaluation tools, autonomy, and airspace integration, which is all needed research to push the industry forward."

Over the past year, the U.S. Air Force and Marines have made multiple visits to Joby’s manufacturing and flight test facilities in Marina, CA. Four U.S. Air Force pilots completed full remotely-piloted transition flights of the Joby aircraft in April, and two groups of Marines visited in May to conduct mission analysis regarding potential logistics and medical applications of the aircraft.

With a range of up to 100 miles plus energy reserves and a top speed of 200 mph, the Joby aircraft is capable of transporting a pilot and four passengers quickly and quietly with zero operating emissions.

The delivery will be celebrated at an event held this morning at 10:00am PT at Edwards Air Force Base. The event can be watched live via this link:

>>> Joby Selects Dayton, Ohio, Birthplace of Aviation, For First Scaled Manufacturing Facility


Business Wire

September 18, 2023


https://finance.yahoo.com/news/joby-selects-dayton-ohio-birthplace-110000211.html


In this article:

Joby plans to build facility capable of delivering up to 500 aircraft per year

140-acre site at Dayton International Airport has potential to support significant further growth, with space to build up to two million square feet of manufacturing facilities

Joby plans to invest up to $500 million, creating up to 2,000 jobs

Up to $325 million in state and local incentives available to support scaling

U.S. Department of Energy has invited Joby to submit a Part II application for a Title XVII loan to support the development of the facility, as a clean energy project

Joby plans to use existing nearby buildings to begin near term operations


SANTA CRUZ, Calif. & DAYTON, Ohio, September 18, 2023--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric vertical take-off and landing (eVTOL) aircraft for commercial passenger service, today announced it plans to locate its first scaled aircraft production facility in Dayton, Ohio, the birthplace of aviation.

The Wright Brothers, who invented and flew the first powered aircraft, lived and worked in Dayton and opened the first airplane factory in the United States there in 1910. The city is also home to Wright-Patterson Air Force Base, and the headquarters of the U.S. Air Force Research Laboratories which has played a key role in supporting Joby’s development.

Joby plans to build a facility capable of delivering up to 500 aircraft per year at the Dayton International Airport, supporting up to 2,000 jobs. The 140-acre site it has selected has the potential to support significant further growth over time, providing enough land to build up to two million square feet of manufacturing space. Construction of the scaled Ohio facility is expected to start in 2024 and it is expected to come online in 2025. Joby plans to use existing nearby buildings to begin near-term operations.

The State of Ohio, JobsOhio and local political subdivisions have offered incentives and benefits of up to $325 million to support the development of the facility, while Joby plans to invest up to $500 million as it scales operations at the site. Joby is also announcing today that it has been invited by the U.S. Department of Energy to submit a Part II Application for financing under the Title XVII Loan Guarantee Program, which provides access to low-interest loans for clean energy projects and would support the scaling of the facility.

Joby’s long-term investor, Toyota, who worked with Joby on the design and successful launch of the company’s Pilot Production Line in Marina, California, plans to continue to advise Joby as it prepares for scaled production of its commercial passenger air taxi in Ohio.

"We’re building the future of aviation right where it all started, in Dayton, Ohio," said JoeBen Bevirt, Founder and CEO of Joby. "The Wright Brothers harnessed revolutionary technology of their time to open up the skies, and we intend to do the same — this time, bringing quiet and emissions-free flight that we hope will have an equally profound impact on our world.

"The U.S. continues to lead the way on introducing this technology, with unprecedented levels of support across all areas and levels of government. We’re incredibly grateful to Governor Mike DeWine, Lt. Governor Jon Husted, Senator Sherrod Brown, Senator JD Vance, Representative Mike Turner, and the team at JobsOhio for their support, as well as the representatives of the many other states we worked with during this process.

"Our partnership with Ohio is a great example of how successful public-private partnership amongst industry, local, state and federal government can bring important new technology to life."

Joby plans to start hiring in the coming months, with early roles expected to focus on the build out of the scaled facility and the machining of parts that will initially be incorporated into Joby’s California low-volume production line. Those interested in applying for roles at Joby’s Ohio facility can register their interest at www.jobyinohio.com.

Joby’s production aircraft is designed to transport a pilot and four passengers at speeds of up to 200 mph, with a maximum range of 100 miles and a revolutionary quiet noise profile that is barely audible against the backdrop of cities. The company plans to operate these aircraft as part of aerial ridesharing networks in cities and communities around the world, starting in 2025, building on partnerships it has developed with Delta and Uber.

An event to celebrate the announcement will be held later today at Hawthorn Hill, the home of Orville Wright. The event is expected to conclude with a ceremonial flypast of a replica Model "B" Flyer, the world’s first production airplane.

Joby’s selection of Ohio as the site for its first scaled aircraft production facility followed an extensive competitive site selection process and is contingent upon standard due diligence, state and local approvals of incentives, permitting and other legal and regulatory matters as customarily accompany such investment projects.

Joby’s headquarters, research and development, and pilot production facility will remain in California. With approximately 150 open positions across the Company’s three Northern California sites, Joby continues to grow its presence in the state.

Media assets, including renders of the proposed facility and footage of Joby’s aircraft in flight, are available here.

The celebratory event can be watched live at 10:00am ET today via www.jobsohio.com/live.

Joby is grateful for the support expressed by many in the Dayton area and across the state of Ohio. Comments regarding Joby’s decision to locate its manufacturing facility in Ohio are included below:

Governor Mike DeWine:

"Ohio’s legacy in aviation begins with the Wright Brothers and continues with Joby Aviation as they launch a new era in aviation manufacturing and aerial mobility in Dayton. The aircraft that will roll off Joby Ohio’s production lines will redefine urban transportation and contribute to a fundamental change in the way people and goods travel. We welcome Joby and celebrate the new chapter of air mobility history that will be made in Ohio, the Heart of Aviation."

Lt. Governor Jon Husted:

"Today’s announcement didn’t come about by chance, it was earned through 20 years of strategic planning in the Dayton region, leading us to be in the best possible position for a company like Joby to expand their operations from California to Ohio. Dayton has solidified itself as the center of aviation innovation, from the Wright Brothers to Wright-Patterson AFB, but for over 100 years, that innovation has not been successfully translated into the manufacturing of aircraft and the thousands of jobs that come with it. Today, that elusive aspiration becomes reality."

Senator Sherrod Brown:

"From the Wright brothers to John Glenn to Ohio aerospace workers across the state today – the story of modern aviation is being written in Ohio. Joby Aviation understands Ohio’s proud history of leadership in aerospace innovation and that is why I fought to ensure that they invested here. Our state continues to lead the country in aerospace innovation. The technologies of the future, like the flying cars from Joby Aviation, will be invented in Ohio and manufactured in Ohio."

Senator JD Vance:

"Ohio is the undisputed home of aviation. I’m excited that new, innovative flight technologies have found a home in the Dayton area, just miles away from where the Wright brothers started it all. We want to see Ohio become the research, development, and manufacturing hub for the future of military and civilian aerospace technologies. Joby Aviation’s new investment is a welcome step toward advancing that goal. I look forward to working with them and wish them the best of luck."

Representative Mike Turner:

"Joby Aviation is a leader in aviation innovation and a pioneer in the air taxi market. Today’s announcement that Joby has chosen the Miami Valley for the site of its new manufacturing facility further signals to other companies in the aviation and innovation space that the spirit of the Wright Brothers in this region is alive and thriving. I look forward to further working with Joby to grow the future of advanced air mobility here in Dayton, the birthplace of aviation."

Dayton Development Coalition President and CEO Jeff Hoagland:

"When Lt. Governor Husted spoke at the DDC’s Annual Meeting in February 2022 and challenged us to land an eVTOL manufacturing facility in the Dayton Region, we were ready. Twenty years ago, we developed a strategy aimed at supporting an emerging industry that not only aligned with the missions at Wright-Patt, but represented the opportunity for private industry investment, as well. Our region’s eVTOL tagline has urged companies to leverage the region’s network of resources and, ‘Come here to test, stay here to build.’ Joby is doing exactly that."

JobsOhio President and CEO, J. P. Nauseef:

"When fully executed, the agreement and the forward vision Joby has shared today will mark the largest aviation job creation deal in Ohio history. Today, we continue Ohio’s historic legacy as the past – the present – and the future of aviation innovation and further affirm we are in the midst of an economic renaissance of the American Midwest – with Ohio leading the way."

Brig. Gen. Scott Cain, Department of the Air Force Technology Executive Officer and Air Force Research Laboratory (AFRL) Commander:

"Through AFWERX’s Agility Prime program we have worked with several companies to accelerate the development and adoption of advanced aerial mobility technologies, such as electric vertical take-off and landing (eVTOL) aircraft, and we’re thrilled to see the results of that investment strengthening the Defense Industrial Base."

Gail Grimmett, Senior Vice President – Sustainability Performance & Strategic Partnerships – Delta Air Lines:

"This is a milestone to celebrate. Joby is one step closer to making eVTOL for commercial use a reality, and at the birthplace of aviation no less. We are excited about our partnership with Joby and how the new manufacturing site will play a critical role in helping Delta deliver a continued elevated and sustainable experience for our customers."

Brandi Davis-Handy, Chief Customer Officer – AES US Utilities:

"AES Ohio has a long history of supporting the needs of our residential and commercial customers. Joby Aviation’s announcement further positions the Dayton Region to play a significant role in the energy transition and the electrification of the aviation industry."

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world.

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>>> Joby Subsidiary H2FLY Completes World’s First Piloted Flight of Liquid Hydrogen Powered Electric Aircraft


Business Wire

September 7, 2023


https://finance.yahoo.com/news/joby-subsidiary-h2fly-completes-world-130000005.html


SANTA CRUZ, Calif. & MARIBOR, Slovenia, September 07, 2023--(BUSINESS WIRE)--H2FLY, a wholly-owned subsidiary of Joby Aviation, today announced the successful completion of the world’s first piloted flight of a liquid hydrogen-powered electric aircraft.

H2FLY, acquired by Joby in 2021, continues to lead the industry on the development and testing of hydrogen aviation propulsion systems. The company completed a series of piloted flights with its HY4 demonstrator aircraft, including one that lasted more than three hours, fitted with a hydrogen-electric fuel cell propulsion system and liquid hydrogen that powered it for the entire flight.

The flights demonstrate the viability of using cryogenically-stored liquid hydrogen instead of gaseous hydrogen, which enables significantly lower tank weights and volume, leading to longer range. The successful installation and demonstration of flight with liquid hydrogen is believed to increase the range of H2FLY’s HY4 demonstrator aircraft from 466 mi (750 km) to 932 mi (1500 km), marking a critical step towards the long-term decarbonization of mid- to long-range aviation.

"H2FLY are pioneers in their field, and we’re proud of them achieving this watershed moment in the use of liquid hydrogen to power aircraft," said JoeBen Bevirt, Founder and CEO of Joby Aviation. "In the years to come, battery-electric and hydrogen-electric propulsion systems will enable us to build aircraft that are quieter and make mid- to long-range air travel possible with zero emissions. It’s critical we take action now and invest aggressively in these technologies for the health of our planet and future generations to come."

The successful flights are the culmination of Project HEAVEN, a European-government-supported consortium assembled to demonstrate the feasibility of using liquid hydrogen in aircraft. The consortium is led by H2FLY and includes the partners Air Liquide, Pipistrel Vertical Solutions, the German Aerospace Center (DLR), EKPO Fuel Cell Technologies, and Fundación Ayesa.

Following this test flight milestone, H2FLY will increasingly focus on its path to commercialization. In June, H2FLY announced the development of its new fuel cell systems, which will be capable of providing their full power range at altitudes high enough to enable commercial hydrogen-electric aircraft, demonstrating real-world commercial aircraft applications.

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world.

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>>> Pratt Engine Flaw to Idle Hundreds of A320 Planes for Years


Bloomberg

by Ryan Beene and Siddharth Philip

September 11, 2023


https://finance.yahoo.com/news/pratt-engine-flaw-idle-hundreds-134426871.html


(Bloomberg) — RTX Corp. dramatically expanded the scope of required engine checks at its Pratt & Whitney unit, a move that will affect nearly its entire fleet of turbines powering Airbus SE’s latest A320 and ground hundreds of the single-aisle jets for months.

About 3,000 Pratt & Whitney geared turbofan engines must be removed over the next three years to check for potentially flawed components made from contaminated metal powder, RTX said Monday. That represents most of the roughly 3,200 GTF engines currently in service on the jets.

With airlines already facing lengthy waits for engine repairs, the added work will result in about 350 aircraft parked per year through 2026 on average, RTX executives told analysts. They said they expect the figure to peak at about 650 planes in the first half of 2024.

“This is obviously a difficult and disappointing situation,” Chief Executive Officer Greg Hayes said. “We’re laser focused on addressing this in the most expeditious and financially sound way forward.”

The broad extent of the checks highlights how the engine’s latest problem has deeply impacted the global fleet. The Pratt geared turbofan engine is one of two power plants offered on the top-selling Airbus A320neo family of aircraft. The RTX unit has about a 40% share of the A320neo market, behind competitor CFM International.

And it’s yet another blow to airlines as they work to rebuild their operations since the pandemic. The engine troubles complicate efforts to increase capacity to meet steady post-Covid lockdown demand for travel.

RTX fell as much as 8.1% Monday as of 2:15 p.m. in New York, the most since the company disclosed the contamination flaw in late July. The shares have declined more than 20% this year.

Financial Hit

On Monday, RTX also cut its full-year sales outlook and said it will take a roughly $3 billion pretax charge in the third quarter as it addresses the flawed parts. Part of RTX’s plan to resolve the issue is offering compensation to airlines for operational disruptions.

The Arlington, Virginia-based company now expects reported fiscal year sales in a range of $67.5 billion to $68.5 billion it said in a statement. An earlier forecast called for adjusted sales of $73 billion to $74 billion, compared with an average analyst estimate for $73.6 billion.

RTX said pretax operating profit will be reduced by as much as $3.5 billion over the next several years over the issue.

Several airlines have already said the inspection requirements will weigh on their plans. Ultra—low cost carrier Wizz Air Holdings Plc on Monday said the inspections will reduce its capacity up to 10% in 2024.

However, Airbus said it doesn’t expect the updated plan from RTX to affect the planemaker’s delivery targets this year, or its plan to ramp up production of A320-series jets over the course of 2024.

Expanded Scope

RTX said in July that 1,200 GTF engines must be removed and inspected over the next 12 months. That initial assessment came after the company discovered contamination in the powdered metal used to manufacture high-pressure turbine disks could shorten their lifespan.

The new plan is to inspect 3,000 engines through 2026 and bring the equipment in for repetitive examinations every 2,800 to 3,800 flights, the company said. That’s a much shorter interval than the typical industry standard.

During the shop visits, Pratt plans to replace as many high-pressure turbine disks as possible with new parts that have a full service life, in order to avoid future inspections, RTX Chief Operating Officer Chris Calio told analysts.

In July, the company suggested fewer than 1% of engines it had inspected needed new disks. Now, engines will also be fitted with new compressor disks, another step that wasn’t part of the plan outlined in July.

‘Wary’ Investors

Vertical Research analyst Rob Stallard said the $3.5 billion financial hit was larger than feared, after the company earlier estimated that the first 200 engines needing inspections would reduce free cash flow by $500 million this year.

“We think investors are likely to remain a little wary of the RTX stock, as the industry’s track record of dealing with execution issues has not been great in recent years,” he said in a research note.

MTU Aero Engines, which is a partner on the GTF engine, said in a separate statement that it expects a €1 billion impact on its earnings before interest and taxes in the current financial year. It also expects an impact on its liquidity in the financial years from 2024 to 2026.

RTX has said the first 200 turbines will need accelerated removals by mid-September.

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Archer Aviation seems to be well positioned. I'm curious whether some of these 'partially winged' VTOLs can remain aloft if their onboard 'fly by wire' computer system fails? My dad was an aeronautical engineer, and a key problem with traditional helicopters is that lacking wings, if the engine fails they immediately fall from the sky, instead of safely gliding back down to land. Some older pilots and engineers refused to even get in a helicopter for that reason. Traditional helicopters also have a ton of vibration, so structural failure is a major concern, especially rotor failure.

But these new electric VTOLs solve many of these problems. If a single electric engine fails, it's no big deal since the other 6, 8, 10 are still working. Also, the vibration problem is negligible, and the loss of a single rotor is also not a big deal. So not having a 'wing' is less of an issue since the odds of losing all power is much less.

However, there are rare scenarios where electric motors can all stop working together, and/or the flight control systems suddenly fail to function. I assume these new high tech aircraft are 'fly by wire', which means that they rely totally on their onboard computer systems. If the computer quits, down you come, and with no 'wings' for gliding, it's all over. Back in the 1980s, numerous F-16s (which were one of the first 'fly by wire' jet fighters) crashed in Europe due to their fly by wire systems being disabled after they flew near certain types of ground tower radiation. The F-16 was designed to be very unstable, which allows higher maneuverability, but they can't remain in flight without the fly by wire computer. I suspect most of these VTOLs will have similar vulnerabilities.

Archer Aviation, Joby Aviation -

EVTOL Taxi service companies - ACHR, JOBY -


>>> Archer Aviation Inc. (ACHR), an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc. Archer Aviation Inc. was incorporated in 2018 and is headquartered in San Jose, California. <<<


>>> Joby Aviation, Inc. (JOBY), a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides. Joby Aviation, Inc. was founded in 2009 and is headquartered in Santa Cruz, California.

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https://finance.yahoo.com/quote/ACHR/profile?p=ACHR


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>>> These 5 eVTOLs Let You Take to the Skies Without a Pilot’s License

Certified in the FAA Ultralight category, the first wave of personal eVTOLs are so intuitive and automated that owners won't need a pilot's license. Several will be available later this year.


Robb Report

June 8, 2023

By JACLYN TROP


https://robbreport.com/motors/aviation/no-pilots-license-fly-these-evtols-jetson-1234852482/


These one-person eVTOLs do not require a pilot's license to fly because of their software-controlled, intuitive design.





Unlike the commercial, five-person eVTOL air taxis scheduled to launch in a few years, these single-seat recreational aircraft are certified under the Federal Aviation Administration’s Ultralight category, which does not require operators to undergo special training.

Slated to go on sale later this year, the first of these models—the RYSE Recon and Jetson One—boast several safeguards in case of emergency. They have been engineered for amateurs to fly safely, with software-driven controls and redundant propulsion systems.

These one-person eVTOLs do not require a pilot's license to fly because of their software-controlled, intuitive design.

The Jetson One has fly-by-wire controls that make flight so intuitive, says the company, a non-pilot can learn to fly it in under an hour.





The manufactures claim the eVTOL will be as intuitive to operate as an all-terrain vehicle (ATV) and easier to fly than a trainer fixed-wing airplane. With the exception of the Doroni H1, you don’t even need a driver’s license. But all the manufacturers are requiring some form of training before they hand over the keys.

“The idea behind the FAA’s Ultralight regulations is that you don’t have to be a pilot,” Mick Kowitz, president and CEO of Cincinnati-based RYSE Aero Technologies, tells Robb Report.

These one-person eVTOLs do not require a pilot's license to fly because of their software-controlled, intuitive design.

Ryse’s Recon will be Jetson’s main competitor in the one-person eVTOL segment.





Kowitz said his company’s $150,000 RYSE Recon, which can fly for about 25 minutes at a top speed of 63 mph, will be popular with agricultural workers—such as vintners and ranchers familiar with heavy equipment—but also with outdoor hobbyists who want to take flight.

The Recon flies to 400 feet above ground and can take off and land in water. Designed for short hops, the eVTOL can travel “10 miles out and 10 miles back,” perhaps on a farm or into the woods for a camping trip.

Its design uses six independent propulsion systems for “six layers of redundancy.” Each of its six battery packs is removable and rechargeable so that the eVTOL can function even if one fails.

These one-person eVTOLs do not require a pilot's license to fly because of their software-controlled, intuitive design.

The Recon has six independent propellers and electric motors to increase safety through redundancy.





RYSE Aero requires buyers to watch about an hour of training videos available through its website. The segments teach users to operate the eVTOL in taxi and loiter modes, progressively picking up speed and altitude before reaching full cruise mode. It uses a left and right stick controller—similar to a backhoe—to move forward, backward, or laterally.

“It’s pretty simple to operate,” Kowitz said. “It’s not rocket science.”

Like the Recon, the $92,000 Jetson ONE eVTOL from Stockholm-based Jetson Aero is powered by a redundant battery propulsion system designed to keep the aircraft in flight if one part malfunctions. Its eight electric motors—one per propeller—are engineered for a top speed of 63 mph and roughly 20 minutes of flight time.

These one-person eVTOLs do not require a pilot's license to fly because of their software-controlled, intuitive design.

The Jetson One caught the public’s imagination so quickly that the first two years of production are sold out.





Jetson claims that its flight computer provides an “intuitive system that makes everyone a pilot in less than five minutes.” The operator will use a left-hand controller to govern the ONE’s altitude while the right controls direction. The eVTOL features an autoland function and several safety features, including a race car–inspired safety cell, to protect the pilot in case of an emergency.

Other manufacturers are developing eVTOL concepts that could enter production eventually. The JetRacer VTOL concept from French company Zapata will use a modular carbon-fiber chassis with 10 jet engines for a top speed of 155 mph. Zapata says the craft can fly up to 10,000 feet above ground, though most pilots will probably not take it higher than 300 feet.

The concept is not intended for production, but Zapata is working on a VTOL called the AirScooter it plans to publicly debut later this month, with a commercial launch in 2024. The company says the AirScooter requires about half an hour of online instruction to operate but it plans to open training facilities across the U.S. using flight simulators and virtual-reality technology.

These one-person eVTOLs do not require a pilot's license to fly because of their software-controlled, intuitive design.

The Doroni H1 is a two-seat eVTOL that is seeking certification under the FAA’s Light Sport Aircraft category.





McClic is the latest company to enter the growing consumer electric aircraft market, according to New Atlas. The Monaco-based operation has just launched the MC One, a coaxial octocopter that will cost you about as much as a brand-new Porsche 911 Carrera GTS.

But not all personal eVTOL will qualify under the FAA’s Ultralight category. Miami-based Doroni’s two-seater H1 eVTOL features two sets of wings, a 500-pound payload, and wheels so that users can drive it into a garage and charge it overnight. The eVTOL is expected to have a range of 60 miles, with a top speed of 140 mph, and begin deliveries in late 2025.

Doroni is seeking to certify its $250,000 eVTOL with the FAA as a Light Sport Aircraft because it is larger, seats more people, and flies longer distances than an Ultralight. The designation requires users to pass a written exam and complete 20 hours of flight training. The company said it plans to provide instruction at its Florida facility and other flight training schools across the world, with pricing to be determined.

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>>> The First ‘Flying Car’ Was Just Approved by the FAA


Robb Report

by Rachel Cormack

June 29, 2023


https://www.yahoo.com/lifestyle/bonkers-flying-car-just-got-163000542.html

Alef’s bonkers flying car has been officially cleared for takeoff.

The retro-futuristic hybrid, which can be driven on the road like a regular car or flown like a VTOL aircraft, was awarded a Special Airworthiness Certification from the U.S. Federal Aviation Administration (FAA) that enables it to hit the skies under experimental status. The California company says it is the first time a vehicle of this nature has received government certification.

“We’re excited to receive this certification from the FAA,” Alef CEO Jim Dukhovny said in a statement. “It allows us to move closer to bringing people an environmentally friendly and faster commute, saving individuals and companies hours each week.”

Alef Aeronautics Model A

The Model A sports gull-wing doors and covered wheel wells.

Of course, there are a few caveats. First, the FAA told Flying that it issued the certificate for a precursor to the production model (the Armada Model Zero, not the Model A). That means the Model A, which is currently on pre-sale, will also need to be cleared to fly by the FAA. It will also need to meet the safety standards of the National Highway and Traffic Safety Administration (NHTSA).

It’s also worthwhile pointing out that approval only allows the aircraft to be used for experimental purposes, such as exhibition, research, and development. It’s not like the average Joe can jump in the car for a test drive; it will be at least a couple of years before that happens. The company will have to wait for the FAA to certify eVTOLs for commercial use before it can sell, fly, or drive the Model A.


Alef Aeronautics Model A

The Model A’s cockpit tilts 90 degrees and the perforated chassis becomes the wings.

The FAA has also awarded approvals to at least two similar models, including Terrafugia’s Transition and Samson Sky’s Switchblade. Neither design is fully electric like the Model A, though. The two fixed-wing crafts can only come and go from airports, too, whereas the Model A can execute vertical takeoff and landings in a variety of locations. On top of that, the fully electric aircraft will have a range of approximately 200 miles on the road and 110 miles in the air. It will have a top speed of about 35 mph and will be able to seat two passengers.

Alef says it has received “strong pre-orders” from individuals and companies for the $300,000 Model A. The company expects the first deliveries will happen in the fourth quarter of 2025.

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Archer Aviation (ACHR) - >>> ‘The Air Taxi Sector Could Be Worth $58 Billion by 2033': Canaccord Suggests One Stock to Invest in It With 140% Upside Potential


TipRanks

June 21, 2023


https://finance.yahoo.com/news/air-taxi-sector-could-worth-001904133.html


The idea of the green economy – that is, low or zero carbon emissions – has taken hold, with a strong social and political impetus behind it. This has become the driving force behind the expansion of renewable power sources in utility-scale electricity generation and the increasing production and use of electrically powered vehicles. At its core, this push is predicated on a reduction in the use of fossil fuels. However, there is one sector in which the transition away from fossil fuel power has proven difficult.

Air travel remains primarily oil-dependent. Until recently, the technology simply did not exist to build viable battery-powered aircraft with sufficient size, lift, speed, and passenger/cargo capacity to truly meet an economic need. That’s beginning to change, particularly in the realm of short-range urban commuter flights. It’s a niche segment, but it’s one that is amenable to a switch from fossil fuel to battery power.

Analyst Austin Moeller, from Canaccord Genuity, has taken an in-depth look at the eVTOL (electric vertical takeoff and landing) aircraft class, and writes, “eVTOL aircraft, which can take off from a traditional heliport (or vertiport) and ferry passengers over busy traffic below using purely battery power, have the potential to substantially reduce carbon emissions in major urban areas and break up traffic congestion by taking to the air.”

“Based on our estimates,” Moeller added, “~15% of rides hailed to and from airports and 5% of longer-distance regional trips could be replaced by eVTOL aircraft, potentially reaching 45M monthly active riders within the next decade. At a target ticket price of ~$107 for an airport-ranged flight, we estimate that the TAM for eVTOL travel in urban metros could be worth nearly $58B by 2033.”

Moeller doesn’t just praise the sector generally, but he also provides a specific recommendation of an eVTOL stock that investors should consider. Despite the speculative nature of this company, Moeller predicts a remarkable upside potential of ~140%. This optimistic outlook is shared by other analysts as well, as the stock is rated as a Strong Buy according to TipRanks’ database.

Archer Aviation (ACHR)

Archer is developing the Midnight aircraft, a short-range urban commuter aircraft designed for distances of up to 100 miles. The Midnight, when it is scaled up to full size, will be capable of short flights, up to 20 miles, back-to-back, with just 12 minutes charging time between. The aircraft’s design incorporates six independent battery packs, each linked to a pair of electric motors, and capacity to carry a pilot, 4 passengers, and luggage. With speeds up to 150 miles per hour, and an optimized rage of 20 to 50 miles, the aircraft is intended to act as an urban connector and air taxi, economically linking major airports within a larger urban area.

Archer is already working with a major airline partner, United, to make eVTOL air taxi routes a reality. The two companies announced in March of this year the first commercial electric air taxi route, to start in in Chicago. The link will connect Chicago’s O’Hare airport, one of North America’s largest, with Vertiport Chicago, the largest North American vertical takeoff and landing aircraft facility. Vertiport is located in the famous Loop; the Archer/United agreement will connect the Loop directly to O’Hare.

This unique aviation firm is also partnering with Stellantis, the auto manufacturer, to kickstart production of the Midnight. Stellantis will provide the manufacturing tech and expertise, along with experienced factory personnel and available capital, to get the Midnight past the prototype stage and into mass production. Archer’s goal is to have 6,000 aircraft deployed by 2030. Archer and Stellantis together will be attending the 2023 Paris Airshow, which starts on June 19. The companies will jointly feature the Midnight eVTOL at the Air Mobility event.

While Archer is purely pre-revenue for now, the company is aiming to begin commercialization of the Midnight in 2025. In its 1Q23 report, Archer noted that the first Midnight aircraft has passed final assembly, and is ready for test flights this summer, and that the FAA certification program is progressing. Archer has plenty of liquidity to maintain operations, with cash reserves of $450 million as of March 31, as well as strategic funding, available from Stellantis, of $150 million.

For Canaccord’s Austin Moeller, all of this adds up to an impressive beginning. The analyst writes, “We expect Archer’s strong established relationships with a major airline (United) and a major global automotive manufacturer (Stellantis) to give the company an intellectual, technical and financial edge over its other peers in the eVTOL industry as it works to scale up production and delivery of the Midnight aircraft. Given the robust demand from the airlines to reduce carbon emissions and a vested interest from major metro areas in reducing smog and traffic congestion, we believe that Archer’s Midnight aircraft could be a significant contributor to sustainable air travel and short-mid range travel from urban city centers to airport hubs and surrounding suburbs.”

Looking forward, Moeller rates ACHR shares as a Buy, and he sets a $9 price target to suggest a powerful one-year upside of ~140%. (To watch Moeller’s track record, click here)

Like Canaccord, the rest of the Street is bullish on ACHR. Based on the 4 Buy recommendations assigned in the last three months and 129% upside potential, it’s clear this ‘Strong Buy’ eVTOL stock has a lot to brag about. (See ACHR stock forecast)

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>>> GE to jointly produce fighter jet engines in India


Reuters

June 22, 2023


https://www.msn.com/en-us/money/companies/ge-to-jointly-produce-fighter-jet-engines-in-india/ar-AA1cSRTu?OCID=ansmsnnews11


(Reuters) - General Electric's aerospace unit said on Thursday it has signed an agreement with India's state-owned Hindustan Aeronautics Ltd to make fighter jet engines for the Indian Air Force. The development comes at a time when Indian Prime Minister Narendra Modi is on an official state visit to the United States.

The agreement includes the potential joint production of GE Aerospace's F414 engines in India and the engines will be used to power Tejas fighter jets, GE said.

Washington is working to deepen ties with the world's largest democracy and sees deeper military-to-military and technology ties with India as a key counterweight to China's dominance in the region.

Hindustan Aeronautics previously said it planned to use the engine for a second generation of light combat aircraft and it was in talks over domestic production of the engines.

Reuters reported in May the Biden administration was poised to sign off on a deal that would allow GE to produce jet engines powering Indian military aircraft.

GE first began working with Hindustan Aeronautics and the Aeronautical Development Agency in 1986 to support the development of India's light combat aircraft with F404 engines.

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>>> SpaceX launches 47 Starlink satellites, lands rocket at sea


Space.com

Mike Wall

June 21, 2023


https://www.yahoo.com/news/watch-spacex-launch-47-starlink-184045762.html


A Falcon 9 rocket carrying 47 Starlink spacecraft lifted off from California's Vandenberg Space Force Base on Thursday at 3:19 a.m. EDT (0719 GMT; 12:19 a.m. local time)

The Falcon 9's first stage returned to Earth as planned about eight minutes and 45 seconds after launch. It performed a pinpoint touchdown on the SpaceX droneship Of Course I Still Love You, which was stationed in the Pacific Ocean.

The Falcon 9's upper stage, meanwhile, continued carrying the 47 Starlink satellites aloft, with the goal of deploying them in low Earth orbit about 19 minutes after liftoff.

SpaceX has now launched more than 4,600 Starlink satellites, the vast majority of which are currently operational, according to astrophysicist and satellite tracker Jonathan McDowell.

And the broadband megaconstellation will continue to grow far into the future. SpaceX has permission to deploy 12,000 Starlink satellites, and the company has applied for approval to launch another 30,000 spacecraft on top of that.

Thursday's Starlink mission was the first part of an early-morning spaceflight doubleheader, if all goes according to plan: A United Launch Alliance (ULA) Delta IV Heavy rocket is scheduled to launch a classified satellite for the U.S. National Reconnaissance Office from Florida's Cape Canaveral Space Force Station at 5:18 a.m. EDT (0918 GMT).

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>>> SpinLaunch is a spaceflight technology development company working on mass accelerator technology to move payloads to space.[3] As of September 2022, the company has raised US$150 million in funding, with investors including Kleiner Perkins, Google Ventures, Airbus Ventures, ATW Partners, Catapult Ventures, Lauder Partners, John Doerr, and the Byers Family.[4][5]


https://en.wikipedia.org/wiki/SpinLaunch


History

SpinLaunch was founded in 2014 by Jonathan Yaney in Sunnyvale, California. The company's headquarters are in Long Beach.[6] In 2020 it opened a launch site. SpinLaunch continued development of its 140,000 square-foot (13,000 m2) corporate headquarters in Long Beach, and of its flight test facility at Spaceport America in New Mexico.[7]

In late 2021, SpinLaunch was named one of the "World's Best Employers in the Space Industry" by Everything Space, a recruitment platform specializing in the space industry.[8]

In March 2022, SpinLaunch was listed as one of the Top 100 Most Influential Companies of 2022 by Time Magazine. In April, SpinLaunch received a launch contract from NASA to test a payload.[9][10]

Technology

SpinLaunch is developing a kinetic energy space launch system that reduces dependency on traditional chemical rockets, with the goal of significantly lowering the cost of access to space while increasing the frequency of launch. The technology uses a vacuum-sealed centrifuge to spin a rocket and then hurl it to space at up to 4,660 mph (7,500 km/h; 2.08 km/s). The rocket then ignites its engines at an altitude of roughly 200,000 ft (60 km) to reach orbital speed of 17,150 mph (27,600 km/h; 7.666 km/s) with a payload of up to 200kg. Peak acceleration would be approximately 10,000 g.[11] If successful, the acceleration concept is projected to lower the cost of launches and to use much less power, with the price of a single space launch reduced by a factor of 20 to under US$500,000.[12][13]

The SpinLaunch system's historical predecessors include centrifugal guns.

Flight testing

At Spaceport America in New Mexico on 22 October 2021, SpinLaunch conducted the first vertical test of their accelerator at 20% of its full power capacity, hurling a 10-foot-long (3.0 m) passive projectile to an altitude of "tens of thousands of feet." This test accelerator is 108 ft (33 m) in diameter, which makes it a one-third scale of the operational system that is being designed.[14][15][16] The company's first 10 test flights reached as much as 30,000 feet (9,100 m) in altitude.

A September 2022 test flight carried payloads for NASA, Airbus US, Cornell Engineering’s Space Systems Design Studio (SSDS) and Outpost. [17]

Criticism

A number of reasons why this technology may not work have been put forward, including problems with massive spinning objects, potential for catastrophic damage to the payload, incompatibility with traditional liquid rocket fuels, increased atmospheric drag (and heat?) ]relative to existing technologies, and other potential problems with the idea.[18]

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>>> 12 Best Defense Stocks To Buy Now


Insider Monkey

by Omer Farooq

March 22, 2023


https://finance.yahoo.com/news/12-best-defense-stocks-buy-121829919.html


In this article, we will discuss the 12 best defense stocks to buy now. If you want to explore similar stocks, you can also take a look at 5 Best Defense Stocks To Buy Now.

A Chinese spy balloon along with 3 other unidentified high-altitude objects have been shot down by the U.S. so far. On March 14, a U.S. drone was shot down by a Russian fighter jet over the black sea. The Russian Su-27 damaged the propellor of the American MQ-9 Reaper drone, after flying in close proximity over it, and forced it down. Meanwhile, the Ukraine war is still ongoing and there is still no end in sight, rather there is a risk of the war escalating.

Defense Analyst: "There's A Pretty Good Long-Term Setup"

On February 13 Cowen's defense and aerospace analyst, Roman Schweizer appeared in an interview on CNBC and to discuss the geopolitical situation and his view on the defense sector and defense stocks. "This is a very peculiar period in time", said Schweizer as he talked about the recent airborne objects shot down in North America. Schweizer thinks that unidentified objects flying at such high altitude can pose risk to commercial air travel. Here are some comments from Roman Schweizer about the U.S. defense budget, potential budget cuts, and defense stocks:

"I'd say that the group (defense stocks) has underperformed, since the GOP (Republicans) kinda came out with wanting those what would be potentially 10% spending cuts. Really, when you look at the backlog in spending, 2 years ago the budget was up 7%, last year up 10%. We estimate there's about $37 billion in funds for Ukraine that haven't been put on contract for some of the large defense primes. So the pump is primed and as soon as we get into some of the budgetary details, if any of that overhang lifts, it certainly is gonna bode well for the companies."

Roman Schweizer is positive on the defense sector and sees it driving outperformance. Schweizer thinks the consensus is that the Ukraine war is a "multi-year conflict" and defense spending is going up in not just the U.S., but also in Japan and Europe. Schweizer also noted that the supply-chain issues and labor shortages due to COVID-19 are also fading away and the defense sector is "starting to operate better". Finally, Roman Schweizer said that he thinks "there's a pretty good long-term setup" for defense stocks.

As the Ukraine war enters its second year, geopolitical risk is rising and defense spending is going up with it. On March 13, the U.S. Department of Defense released the proposed defense budget for fiscal 2024. The Biden-Harris Administration has submitted a request to Congress to increase the defense budget for fiscal 2024 to $842 billion, up $26 billion from fiscal 2023.

Amid rising geopolitical tensions, the outlook for the defense sector is starting to look attractive. As of March 21, the iShares U.S. Aerospace & Defense ETF (BATS:ITA) has gained 1.55% year to date, and has gone up by 16.65% over the past 6 months. Some of the best defense stocks to buy now according to analysts and hedge funds include Northrop Grumman Corporation (NYSE:NOC), Lockheed Martin Corporation (NYSE:LMT), and The Boeing Company (NYSE:BA).

Our Methodology

We screened for companies operating in the defense sector and picked the 30 largest companies operating in the space. We then sourced the hedge fund sentiment for these companies from Insider Monkey's proprietary database of over 900 elite money managers. We narrowed down our selection to stocks that were the most widely-held by hedge funds. We have ranked these stocks in ascending order of the number of hedge funds that have stakes in them.

12 Best Defense Stocks To Buy Now


12. Curtiss-Wright Corporation (NYSE:CW)

Number of Hedge Fund Holders: 22

On February 21, Curtiss-Wright Corporation (NYSE:CW) posted strong earnings for the fourth quarter of fiscal 2022. The company generated a revenue of $757.67 million, up 13.63% year over year and ahead of market estimates by $5.44 million. The company reported an EPS of $2.92 and outperformed EPS expectations by $0.01.

This February, Truist analyst Michael Ciarmoli raised his price target on Curtiss-Wright Corporation (NYSE:CW) to $190 from $183 and maintained a Buy rating on the shares.

Curtiss-Wright Corporation (NYSE:CW) was held by 22 hedge funds at the end of Q4 2022. These funds held positions worth $233.5 million in the company, up from $174.4 million in the previous quarter when 18 hedge funds held stakes in the company. The hedge fund sentiment for the stock is positive.

As of December 31, Select Equity Group is the top shareholder in Curtiss-Wright Corporation (NYSE:CW) and has disclosed a stake worth $99.2 million.

In addition to Curtiss-Wright Corporation (NYSE:CW), other top defense stocks that are popular among elite hedge funds include Northrop Grumman Corporation (NYSE:NOC), Lockheed Martin Corporation (NYSE:LMT), and The Boeing Company (NYSE:BA).


11. Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Number of Hedge Fund Holders: 34

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) is a leading global manufacturer of commercial aerostructures. The company operates through three divisions: Commercial, Defense & Space, and Aftermarket. As of March 21, the stock has gained 27.91% over the past 6 months.

On February 13, Barclays analyst Davis Strauss raised his price target on Spirit AeroSystems Holdings, Inc. (NYSE:SPR) to $50 from $42 and maintained an Overweight rating on the shares. The stock is one of the best defense stocks to buy now according to hedge funds and analysts.

At the end of Q4 2022, 34 hedge funds were long Spirit AeroSystems Holdings, Inc. (NYSE:SPR) and disclosed stakes worth $280.5 million in the company. Of those, Marshall Wace LLP was the leading investor in the company and disclosed a position worth $67 million.


10. Howmet Aerospace Inc. (NYSE:HWM)

Number of Hedge Fund Holders: 35

Howmet Aerospace Inc. (NYSE:HWM) is an American manufacturer of jet engine components, fasteners and titanium structures for aerospace applications. The stock is placed tenth among the best defense stocks to buy now. On February 14, the company released earnings for the fourth quarter of fiscal 2022. Howmet Aerospace Inc. (NYSE:HWM) reported an EPS of $0.38 and generated a revenue of $1.51 billion, up 17.74% year over year and ahead of Wall Street consensus by $44.12 million.

This February, Argus raised its price target on Howmet Aerospace Inc. (NYSE:HWM) to $49 from $43 and reiterated a Buy rating on the shares.

Howmet Aerospace Inc. (NYSE:HWM) was spotted on 35 investors' portfolios at the end of Q4 2022. These funds disclosed collective stakes worth $2.94 billion in the company, up from $2.67 billion in the preceding quarter with 46 positions. As of December 31, Elliott Management is the most prominent shareholder in Howmet Aerospace Inc. (NYSE:HWM) and has disclosed a position worth $1.36 billion.


9. Textron Inc. (NYSE:TXT)

Number of Hedge Fund Holders: 36

On February 2, Textron Inc. (NYSE:TXT) declared a quarterly cash dividend of $0.02 per share. The dividend is payable on April 1 to stockholders of record on March 10. As of March 21, the stock is offering a forward dividend yield of 0.12%.

As of December 6, Morgan Stanley analyst Kristine Liwag has an Overweight rating and a $84 price target on Textron Inc. (NYSE:TXT). The stock has gained 12.49% over the past 6 months, as of March 21, and is trading at a PE multiple of 17x.

At the close of the fourth quarter of 2022, 36 hedge funds were eager on Textron Inc. (NYSE:TXT) and held collective positions worth $819.5 million in the company. This is compared to 28 hedge funds in the previous quarter with stakes worth $626.8 million. The hedge fund sentiment for the stock is positive.

As of December 31, AQR Capital Management is the largest stockholder in Textron Inc. (NYSE:TXT) and has a stake worth $133 million.


8. L3Harris Technologies, Inc. (NASDAQ:LHX)

Number of Hedge Fund Holders: 45

At the end of the fourth quarter of 2022, 45 hedge funds were bullish on L3Harris Technologies, Inc. (NASDAQ:LHX) and disclosed stakes worth $1.28 billion in the company. This is compared to 39 positions in the preceding quarter with stakes worth $680.2 million. The hedge fund sentiment for the stock is positive.

On January 30, Morgan Stanley analyst Kristine Liwag updated her price target on L3Harris Technologies, Inc. (NASDAQ:LHX) to $264 from $278 and maintained an Overweight rating on the shares. The stock is placed eighth on our list of the best defense stocks to buy now according to analysts and hedge funds.

On February 24, L3Harris Technologies, Inc. (NYSE:LHX) raised its quarterly dividend to $1.14 per share, up 1.8% from its prior dividend of $1.12. The dividend is payable on March 24 to investors or record on March 10. As of March 21, the stock is offering a forward dividend yield of 2.31%

As of December 31, Diamond Hill Capital is the leading shareholder in L3Harris Technologies, Inc. (NASDAQ:LHX) and has a position worth $233.8 million.


7. General Dynamics Corporation (NYSE:GD)

Number of Hedge Fund Holders: 46

General Dynamics Corporation (NYSE:GD) is one of the best defense stocks to buy now. On March 9, the company declared a quarterly cash dividend of $1.32 per common share, up 4.8% from its prior dividend of $1.26. The divided is payable on May 12 to stockholders of record on April 13. As of March 21, General Dynamics Corporation (NYSE:GD) is offering a forward dividend yield of 2.42% and is trading at a PE multiple of 18x.

This January, Morgan Stanley analyst Kristine Liwag raised her price target on General Dynamics Corporation (NYSE:GD) to $248 from $243 and maintained an Equal Weight rating on the shares.

General Dynamics Corporation (NYSE:GD) was a part of 46 investors' portfolios at the end of Q4 2022. These funds held collective positions worth $8.22 billion in the company, up from $7.10 billion in the preceding quarter with 35 positions. The hedge fund sentiment for the stock is positive.

As of December 31, Longview Asset Management is the top investor in General Dynamics Corporation (NYSE:GD) and has a stake worth $7 billion.


6. HEICO Corporation (NYSE:HEI)

Number of Hedge Fund Holders: 48

Wall Street is bullish on HEICO Corporation (NYSE:HEI). This March, Truist analyst Michael Ciarmoli raised his price target on HEICO Corporation (NYSE:HEI) to $190 from $169 and maintained a Buy rating on the shares. As of March 21, the stock has returned 12.78% to investors over the past 6 months.

At the end of Q4 2022, HEICO Corporation (NYSE:HEI) was held by 48 hedge funds. These funds disclosed positions worth $975.7 million in the company, up from $714.6 million in the previous quarter when 42 hedge funds held stakes in the company. The hedge fund sentiment for the stock is positive.

As of December 31, Citadel Investment Group is the largest investor in HEICO Corporation (NYSE:HEI) and holds a stake worth $128.5 million.

Other defense stocks that Wall Street analysts are positive on include Northrop Grumman Corporation (NYSE:NOC), Lockheed Martin Corporation (NYSE:LMT), and The Boeing Company (NYSE:BA).


5. Northrop Grumman Corporation (NYSE:NOC)

Number of Hedge Fund Holders: 49

At the end of the fourth quarter of 2022, 49 hedge funds were long Northrop Grumman Corporation (NYSE:NOC) and held stakes worth $1.53 billion in the company. This is compared to 46 positions in the preceding quarter with stakes worth $1.05 billion. As of December 31, GQG Partners is the leading shareholder in the company and has a stake worth $428 million.

On January 31, Wells Fargo analyst Matthew Akers raised his price target on Northrop Grumman Corporation (NYSE:NOC) to $470 from $460 and maintained an Equal Weight rating on the shares. As of March 21, the stock is trading at a PE multiple of 14x and is offering a forward dividend yield of 1.54%. Northrop Grumman Corporation (NYSE:NOC) is placed fifth among the best defense stocks to buy now.

Here is what LRT Capital had to say about Northrop Grumman Corporation (NYSE:NOC) in its October 2022 investor letter:

“Based in Virginia, Northrop Grumman Corporation (NYSE:NOC) is one of the world’s largest defense contractors with annual revenue more than $30 billion. The company operates in a cozy oligopoly, that after decades of consolidation the US defense market is now controlled by five large companies: The Boeing Company (BA), General Dynamics Corporation (GD), Lockheed Martin Corporation (LMT), Northrop Grumman Corporation (NOC), and Raytheon Technologies Corporation (RTX).

Industry barriers to entry are immense, government procurement cycles are extremely long, and the consolidated industry structure reflects this. This industry structure has allowed Northrop to earn stable mid-teens returns on invested capital (ROIC) and grow earnings per share at a rate of over 13% per year in the past decade, despite a topline that has grown only in-line with inflation. Even after the recent run-up in the stock price, it trades at approximate 15x, next year’s earnings estimates, far below the S&P 500 index, despite being an above average company. While nominally, there are five major defense contractors, the true industry concentration is even higher because not all companies compete in all possible business segments. General Dynamics’ division submarine division, Electric Boat, is the sole supplier of nuclear power submarines in the United States. Lockheed Martin is the sole supplier of the F-35 and F-22. Northrop was the sole bidder on the contract to develop the next generation of intercontinental ballistic missiles; and so on…”


4. Raytheon Technologies Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 51

Raytheon Technologies Corporation (NYSE:RTX) has gained 17.45% over the past 6 months, as of March 21, and is offering a forward dividend yield of 2.26%. The stock is one of the best defense stocks to buy now according to analysts and hedge funds. This January, Citi analyst Jason Gursky raised his price target on Raytheon Technologies Corporation (NYSE:RTX) to $106 from $104 and maintained a Neutral rating on the shares.

At the close of Q4 2022, Raytheon Technologies Corporation (NYSE:RTX) was spotted on 51 hedge funds’ portfolios. These funds held positions worth $1.81 billion in the company, up from $1.61 million in the preceding quarter when 55 hedge funds held stakes in the company.

As of December 31, Balyasny Asset Management is the leading shareholder in Raytheon Technologies Corporation (NYSE:RTX) and has a stake worth $229.9 million.

Here is what Carillon Tower had to say about Raytheon Technologies Corporation (NYSE:RTX) in its Q3 2022 investor letter:

“Raytheon Technologies Corporation (NYSE:RTX) announced strong results led by strength in its commercial segment, but weakness in its defense business led to investor consternation. Management guided to a recovery in this segment, citing both transitory supply chain issues and continued strong demand.”


3. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 53

Analysts see promising upside to Lockheed Martin Corporation (NYSE:LMT). This January, DZ Bank analyst Robert Czerwensky upgraded Lockheed Martin Corporation (NYSE:LMT) to Buy from Hold and reiterated his price target of $523 on the stock.

Over the past 6 months Lockheed Martin Corporation (NYSE:LMT) has returned 12.48% to investors, as of March 21, and the stock is offering a forward dividend yield of 2.52%. Lockheed Martin Corporation (NYSE:LMT) is placed third on our list of the best defense stocks to buy now.

Lockheed Martin Corporation (NYSE:LMT) was spotted on 53 hedge funds’ portfolios at the close of Q4 2022. These funds held collective positions worth $2.13 billion in the company, up from $1.69 billion in the preceding quarter with 53 positions. As of December 31, GQG Partners is the most prominent stockholder in Lockheed Martin Corporation (NYSE:LMT) and holds a stake worth $559.9 million.

Here is what Vltava Fund had to say about Lockheed Martin Corporation (NYSE:LMT) in its Q3 2022 investor letter:

“LMT is one of the world’s largest aerospace and defence companies. The war in Ukraine has reminded investors and the wider public just how important these companies are. The aerospace and defence industry in the USA is an established oligopoly. This means that a few large firms play a dominant role. While collectively they comprise an oligopoly, individually they often have monopoly positions in particular narrower segments. Their main counterparty is the US government, a key customer in what is known as a monopsonist position. This is a rather unusual situation, but one that is very advantageous for companies such as LMT.

LMT has a strong and long-term sustainable competitive advantage ensuing from the fact that its products are developed and manufactured at an extremely high level of technology and complexity, its development and contract cycles are measured in decades, and the costs for the government to switch to alternative suppliers are high. Moreover, part of the production is classified as secret, which further takes the wind out of the sails of potential competitors. This results in a very high return on capital and admittedly a slowly but steadily growing business.

In most NATO countries, which are LMT’s customers, defence outlays are based upon the size of GDP. This is currently growing very fast in nominal terms due to inflation in most countries. A number of countries have also announced significant increases in defence budgets, whether it be Germany, which aims to get to the NATO-agreed 2% of GDP, or Poland, which wants to spend more than twice as much on defence…”


2. The Boeing Company (NYSE:BA)

Number of Hedge Fund Holders: 53

53 hedge funds disclosed having stakes in The Boeing Company (NYSE:BA) at the end of Q4 2022. The total value of these stakes amounted to $1.66 billion, up from $691.7 million in the previous quarter with 42 positions. The hedge fund sentiment for The Boeing Company (NYSE:BA) is positive and the stock is one of the best defense stocks to buy now.

As of March 21, shares of The Boeing Company (NYSE:BA) have soared 47.57% over the past 6 months. Wall Street likes the stock. This March, Susquehanna analyst Charles Minervino reiterated a Positive rating and his $245 price target on The Boeing Company (NYSE:BA).

As of December 31, Adage Capital Management is the largest shareholder in The Boeing Company (NYSE:BA) and has a stake worth $250 million.

Here is what Jackson Square Partners had to say about The Boeing Company (NYSE:BA) in its Q3 2022 investor letter:

“For The Boeing Company (NYSE:BA)–in short, we believe the worst of Boeing’s idiosyncratic issues are behind it, the airframe duopoly remains as protected as ever, and at current prices (where we’ve been adding), the stock is trading around ~6x FCF on 2025E. Current airframe production is running materially below expected travel demand over the next 5-10 years, creating a structural supply/demand imbalance that we believe will drive a decade of strong growth in civil aerospace from here. In our 2Q’22 correspondence, we described the attributes of our ideal growth ballast and said we hoped to convert another in the coming months – we believe Boeing checks all those boxes.”


1. TransDigm Group Incorporated (NYSE:TDG)

Number of Hedge Fund Holders: 71

On February 7, TransDigm Group Incorporated (NYSE:TDG) announced strong earnings for the first quarter of fiscal 2023. The company reported an EPS of $4.58 and outperformed EPS estimates by $0.28. The company generated a revenue of $1.40 billion, up 17% year over year and ahead of Wall Street consensus by $19.04 million. As of March 21, TransDigm Group Incorporated (NYSE:TDG) has returned 29.16% to investors over the past 6 months.

On February 28, BofA analyst Ronald Epstein raised his price target on TransDigm Group Incorporated (NYSE:TDG) to $890 from $770 and maintained a Buy rating on the shares. TransDigm Group Incorporated (NYSE:TDG) tops our list of the best defense stocks to buy now according to analysts and hedge funds.

At the close of the fourth quarter of 2022, 71 hedge funds were bullish on TransDigm Group Incorporated (NYSE:TDG) and disclosed stakes worth $5.93 billion in the company. This is compared to 63 hedge funds in the previous quarter with stakes worth $4.95 billion. The hedge fund sentiment for the stock is positive.

As of December 31, Stockbridge Partners is the top stockholder in TransDigm Group Incorporated (NYSE:TDG) and has disclosed a position worth $1 billion.

Here is what Vulcan Value Partners had to say about TransDigm Group Incorporated (NYSE:TDG) in its Q4 2022 investor letter:

“TransDigm Group Incorporated (NYSE:TDG) is an aerospace company making original equipment manufacturer and aftermarket parts for commercial and military aircraft. Approximately 90% of its net sales are from proprietary parts. TransDigm is the sole source provider for parts representing approximately 80% of its revenues. The company grew its EBITDA just over 20% in fiscal 2022 as air travel recovered from the COVID-19 downturn. We believe that the company will have another strong year in fiscal 2023.”

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>>> Maxar moves to close deal with Advent after receiving no competing offers

The acquisition by the private equity firm remains on track to close in mid-2023


Space News

Sandra Erwin

February 15, 2023


https://spacenews.com/maxar-moves-to-close-deal-with-advent-after-receiving-no-competing-offers/


WASHINGTON — The $6.4 billion acquisition of Maxar Technologies by the private equity firm Advent International remains on track to close in mid-2023 following completion of a 60-day “go shop” period when other offers could have been considered.

The agreement with Advent International was announced Dec. 16, 2022. During the 60-day “go shop” period that expired Feb. 14, Maxar and its financial advisor J.P. Morgan Securities held discussions with 36 potential buyers “but did not receive any competing acquisition proposals,” Maxar announced Feb. 15.

The acquisition still has to be officially approved by Maxar stockholders. Maxar said the deal cleared a U.S. antitrust review at the end of January.

Headquartered in Westminster, Colorado, Maxar operates four high-resolution imaging satellites and is the primary supplier of commercial satellite imagery to the U.S. government. The company also manufactures satellites in Palo Alto, California.

The completion of Advent’s acquisition in a timely manner is key to Maxar as it looks to accelerate the deployment of new satellites.

Amid growing demand for satellite imagery, Maxar has been eager to launch its new WorldView Legion high-resolution optical imaging satellites that have been in production for years and delayed by supply chain problems, the pandemic and other issues. The first two are expected to launch this year.

When the deal with Advent was announced, Maxar’s president and CEO Daniel Jablonsky said that going private would help Maxar move faster and get WorldView Legion on orbit.

The company on Feb. 14 announced an agreement to secure access to radar imaging satellites from startup Umbra.

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>>> Boeing lands mega deal with Saudi Arabia


Yahoo Finance

March 14, 2023

by Brian Sozzi


https://www.msn.com/en-us/news/world/boeing-lands-mega-deal-with-saudi-arabia/ar-AA18C6dv?OCID=ansmsnnews11


Boeing (BA) has landed a big deal with Saudi Arabia.

As Yahoo Finance first reported Tuesday, the aerospace giant has secured an order for up to 121 787s from two Saudi Arabian airlines — state-owned Saudi Arabian Airlines and new national player Riyadh Air. A total of 78 planes are considered firm orders, while 43 are options to purchase more.

Of the 121 orders, 72 are from Riyadh Air.

Based on the list price for the 787 of about $338 million, the deal could be worth up to an estimated $40 billion.

"It is significant," Boeing CEO David Calhoun told Yahoo Finance.

Boeing shares rose around 2% in early trading. Shares are up 7% year to date, out-performing the S&P 500's 0.4% advance.

Riyadh Air was formally announced a week ago by Saudi Arabia Crown Prince Mohammed bin Salman in an effort to compete with regional transport and other international travel hubs.

Financial backing for Riyadh Air will come from the Saudi Arabian Public Investment Fund (better known as PIF), which has made a name for backing startups ranging from LIV Golf to EV maker Lucid.

Riyadh Air is expected to serve more than 100 destinations worldwide by 2030.

Tony Douglas — who left Etihad Airways as CEO last October — was named at Riyadh Air's first CEO.

"This order for us today [from Boeing] is the kind of first major milestone that shows to everybody the scale of ambition that we've got," Douglas told Yahoo Finance.

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This Dec 18 Hawaii incident sounds eerily similar to the crashes in 2018/19 that grounded the 737 Max. The planes take off normally but then are thrown into a steep dive. This time it was a Boeing 777, and the pilots managed (barely) to avoid hitting the ground.

And still another incident (Jan 10) with a Boeing 787 leaving Qatar, with another steep descent following takeoff (link below). As with the Hawaii incident in Dec, they managed to recover at an altitude of 800 ft -

https://avherald.com/h?article=504d75c7&opt=0



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>>> United 777 Plunges to Within 800 Feet of Ocean

CNN Wire

February 13, 2023

By Greg Wallace, CNN


https://news.yahoo.com/united-777-plunges-within-800-123754404.html


(CNN) – A United Airlines 777 took a nosedive and plunged to within 800 feet of the ocean shortly after takeoff from an airport in Hawaii last December.

In less than 21 seconds, the Boeing jet dropped 1,425 feet from an altitude of 2,200 feet shortly after takeoff from Kahului on the island of Maui, according to the data from FlightRadar24. The plane gained speed as it dropped before the pilots were able to regain control of the aircraft and continue with the climb and onto its destination.

Neither United nor the FAA indicated anyone was injured on United Flight 1722 on December 18

The data suggest the remainder of the flight was uneventful.

United said it conducted an investigation with the FAA and the pilots union “that ultimately resulted in the pilots receiving additional training,” adding the investigation is ongoing.

The pilots have a combined 25,000 hours of flight time.

“The United Airlines flight crew reported the incident to the FAA as part of a voluntary safety reporting program. The agency reviewed the incident and took appropriate action,” the FAA told CNN.

Although the weather at the exact time is unclear, the National Weather Service reported the day set a daily record for rainfall at Kahului.

The incident, which is coming to light only now, was first reported by the website Air Current.

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Air Current article -

https://theaircurrent.com/aviation-safety/united-maui-dive-ua1722-close-call/



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>>> GE buys out entire New York Times in first-ever advertising takeover, promoting new businesses


By Andy Brownfield

Cincinnati Business Courier

Dec 8, 2022


https://www.bizjournals.com/cincinnati/news/2022/12/06/ge-new-york-times.html?utm_source=sy&utm_medium=nsyp&utm_campaign=yh


General Electric, whose spinoff of its health care and energy companies will leave Evendale-based GE Aerospace as the sole company, bought out every single print ad in the New York Times Tuesday.

GE (NYSE: GE) on Tuesday executed an advertising takeover of the Times for the first time in the publication's 171-year history, promoting the company's transformation into three standalone, publicly traded companies: GE Aerospace (formerly GE Aviation), GE Vernova and GE HealthCare.

“GE is beginning again, on the path to create three companies all essential to modern life and all focused on delivering for the future," Linda Boff, GE chief marketing officer, said in a note announcing the advertising takeover.

The takeover includes every print ad space in the Times' Dec. 6 newspaper, as well as ads in the newspaper's desktop and mobile presences and on its podcast, "The Daily." The advertising, prepared by agency Giant Spoon, takes on the theme of "focus" as it applies to the focusing of each company on its industry as the giant conglomerate splits into three new companies.

"Today’s takeover of the New York Times print edition underscores our belief that focus is a superpower, especially in an age where our attention is divided among endless input, and that focus is the key to delivering long-term value," Boff said.

General Electric announced in November 2021 it is splitting itself into three publicly traded companies, spinning off GE HealthCare in early 2023 and GE Vernova – its energy business – in 2024. When the process is complete, GE Aerospace will remain as its own standalone company, leasing the "GE" name to the other two and owning a 19.9% stake in the health care firm.

GE CEO H. Lawrence Culp Jr. took over as CEO of GE Aviation in July, replacing John Slattery, who was named CEO in June 2020. Slattery was named executive vice president and chief commercial officer of the aviation business.

The advertising takeover of the Times included a cover wrap that encompasses the entire paper, showing off the logos of the three new companies. And then each section of the newspaper is devoted to one of the new companies: the main news or A section of the newspaper shows off GE Aerospace, the business section GE Vernova, the science section GE HealthCare and the art section is devoted to GE employee appreciation.

Included in the advertising are touches like a foldable paper airplane adapted by four-time Guinness World Record holder Ken Blackburn, who holds the record for the longest time keeping a paper airplane aloft; a Magic Eye optical illusion; and a circular crossword puzzle from award-winning puzzle maker Brendan Emmett Quigley.

GE did not disclose what it paid for the takeover of the New York Times.

GE Aerospace reported $6.7 billion in revenue for the third quarter of 2022, up 24% from the same quarter last year. That represented $1.2 billion in profit for the quarter, up 52% from the third quarter of 2021.

GE Aerospace, along with its joint venture with French firm Safran, CFM International, is the world's largest supplier of aircraft engines, responsible for 53% of the market. The company is Cincinnati's third-largest manufacturer, with 9,000 local employees, according to Business Courier research.

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>>> SR-72 Darkstar – The Top Gun: Maverick ‘Mach 10’ Plane Is ‘Real’


MSN News

by Brent M. Eastwood

Dec 7, 2022


https://www.msn.com/en-us/news/us/sr-72-darkstar-the-top-gun-maverick-mach-10-plane-is-real/ar-AA151pnH?cvid=9490d617744144e1abca1e827669c775


SR-72




More than 100,000 people at an air show in California were able to see the new mockup of the SR-72 Darkstar spy plane, which was featured in the blockbuster movie Top Gun: Maverick (it hit Mach 10 in the movie). The Hollywood version of the Darkstar sat beside the SR-71 Blackbird in October at the Aerospace Valley Open House and Air Show at Edwards Air Force Base, California. The SR-72 is known as the “Son of Blackbird”, so this was a generational public relations moment for the Darkstar program and Lockheed Martin Skunk Works.

Doubling down on speed

The SR-71 in its heyday was an ultra fast, high-flying machine, but the stealthy SR-72 might eventually reach speeds of Mach-6, nearly twice the velocity of the SR-71. The Darkstar will be unmanned and capable of gathering the intelligence, surveillance, and reconnaissance data expected from a spy plane, but it might also have ground strike features.

Mix that with hypersonic flight, and you have a noteworthy craft for the U.S. Air Force.

Lockheed has developed a combined cycle dual-mode engine that has ramjet features. Dual mode means that a turbine engine cycle provides thrust from takeoff to Mach-3, at which point the ramjet takes over to reach Mach-6. The idea is to outrun enemy warplanes and air defenses.

Engineers from Skunk Works designed the version of the Darkstar that appeared in the film. While that was a fictional prop, rumor has it the Chinese were interested in getting a glimpse of the mockup before the movie was even released, because it seemed so real.

Skunk Works has been working on the SR-72 since 2013 and tested its engines in 2017. It may reach initial operational capability by 2030, with full service in the Air Force following a few years later. The unmanned bird is likely to be autonomous and could see service as a hypersonic bomber while flying out ahead of the B-21 Raider and the F-35 Lightning II.

High Hopes and Hollywood Dreams for the Darkstar

Hypersonic weapon technology should be mature by the time the Son of Blackbird is ready to fly regularly. It will need to be, because, traveling at Mach-6, the Darkstar will need to launch hypersonic weapons. There are additional challenges: Performing turns and opening bomb bay doors will be difficult and will require a significant amount of ingenuity from designers and engineers. The shape of the airplane will be interesting. Military Factory describes concept art for the SR-72 as having “underslung twin air intakes, slim low-mounted delta wing assemblies, and a single vertical tail fin.” The SR-72 will not have a cockpit, and all avionics and controls will be inside the fuselage. The SR-71 could reach 85,000 feet, and the Son of Blackbird could fly even higher – perhaps even reaching near space altitudes. While the Hollywood buzz is exciting for the SR-72 program, the Son of Blackbird still needs a lot of work, and a lot of funds. The hype could run into delays and cost overruns any year.

The speed and altitude goals are ambitious, and the unmanned features will have to be integrated with manned airplanes.

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>>> Exclusive-Air India nears historic order for up to 500 jets


Reuters

Dec 2022

by By Tim Hepher and Aditi Shah


https://www.msn.com/en-us/money/companies/exclusive-air-india-nears-historic-order-for-up-to-500-jets-sources/ar-AA159i6z


PARIS/NEW DELHI (Reuters) - Air India is close to placing landmark orders for as many as 500 jetliners worth tens of billions of dollars from both Airbus and Boeing as it carves out an ambitious renaissance under the Tata Group conglomerate, industry sources said on Sunday.

The orders include as many as 400 narrow-body jets and 100 or more wide-bodies, including dozens of Airbus A350s and Boeing 787s and 777s, they said, speaking on condition of anonymity as finishing touches are placed on the mammoth deal in coming days.

Such a deal could top $100 billion dollars at list prices, including any options, and rank among the biggest by a single airline in volume terms, overshadowing a combined order for 460 Airbus and Boeing jets from American Airlines over a decade ago. Even after significant expected discounts, the deal would be worth tens of billions of dollars and cap a volatile year for plane giants whose jets are again in demand after the pandemic, but who face mounting industrial and environmental pressures.

It would also allow Airbus to secure a home for some A350 production slots initially earmarked for Russia's Aeroflot and now left open because of war-related sanctions against Moscow.

Airbus and Boeing declined to comment. Tata Group-owned Air India did not respond to a request for comment.

China last week delivered its first C919 jetliner but is at least a decade away from competing on such a scale, experts say.

The potential blockbuster order comes days after Tata announced the merger of Air India with Vistara, a joint-venture with Singapore Airlines, to create a bigger full-service carrier and strengthen its presence in domestic and international skies. That deal gives Tata a fleet of 218 aircraft, cementing Air India as the country's largest international carrier and second largest in the domestic market after leader IndiGo

Buying debt-ridden Air India has also given Tata access to valuable flying rights and landing slots, especially to destinations in the United States and Europe.

HURDLES TO GROWTH

Air India's maharajah mascot was once synonymous with lavishly decorated planes and stellar service but its reputation declined in the mid-2000s as financial troubles mounted. Founded by JRD Tata in 1932, Air India was nationalised in 1953. Tata regained control in January and has since been working to revive its reputation as a world-class airline.

The order reflects a strategy to re-capture a solid share of trips between India's large overseas diaspora and cities such as Delhi and Mumbai, dominated by foreign rivals such as Emirates.

Air India also wants to win a bigger share of regional international traffic and the domestic market, setting up a battle on both fronts with IndiGo.

Delivered over the next decade, the 500 jets would replace and expand fleets in the world's fastest-growing air travel market, while contributing to Prime Minister Narendra Modi's goal of expanding the economy to $5 trillion.

But experts warn many hurdles stand in the way of Air India's ambition to recover a strong global position, including frail domestic infrastructure, pilot shortages and the threat of tough competition with established Gulf and other carriers.

It may also struggle to get the medium-haul Airbus A321neos being ordered for the Air India-Vistara tie-up as quickly as it would like, with the European planemaker sold out until 2028 or beyond.

One industry source said new Boeing 737 MAXs will most likely go to Air India Express, the company's budget operator which could be renamed.

Insiders say plane and engine makers have been clamouring at Air India's door for months, with new Chief Executive Campbell Wilson refusing to rush the make-or-break fleet decision.

Reuters reported in July that Air India was taking more time to study Airbus A350s and Boeing wide-body 787 and 777 models, on top of a probable mixed order for smaller single-aisle jets.

Last month, Campbell confirmed talks to "greatly expand" Air India's fleet over the next five years and said, "At the risk of gross understatement, the investment will be substantial."

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>>> Chinese airline receives first domestic long-range jetliner


ASSOCIATED PRESS

December 9, 2022


https://news.yahoo.com/chinese-airline-receives-first-domestic-095949592.html


BEIJING (AP) — A Chinese airline on Friday became the first customer to take delivery of a long-range jetliner produced by a state-owned manufacturer set up to try to compete with Boeing and Airbus, state TV reported.

The C919 plane made by Commercial Aircraft Corp. is part of the ruling Communist Party's efforts to transform the country into a creator of profitable technologies and reduce reliance on foreign products.

The model delivered to China Eastern Airlines Ltd., one of China’s four major carriers, seats 164 passengers, China Central Television reported. It gave no details of where it would be operated.

The single-aisle C919, which is meant to compete with the Airbus A320 and Boeing 737, has a range of 4,075 to 5,555 kilometers (2,530 to 3,450 miles), according to the manufacturer. The plane made its first flight in May 2017.

Last month, Commercial Aircraft Corp. announced 300 orders for the C919 from Chinese leasing companies. The company earlier said it had 815 orders for the C919 from 28 customers, including GE Capital Aviation Services and Thailand’s City Airways.

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>>> Pentagon debuts its new stealth bomber, the B-21 Raider


By TARA COPP,

Associated Press

12-2-222


https://www.msn.com/en-us/news/world/pentagon-debuts-its-new-stealth-bomber-the-b-21-raider/ar-AA14ONvn?OCID=ansmsnnews11


PALMDALE , Calif. (AP) — America’s newest nuclear stealth bomber made its debut Friday after years of secret development and as part of the Pentagon’s answer to rising concerns over a future conflict with China.



The B-21 Raider stealth bomber is unveiled at Northrop Grumman Friday, Dec. 2, 2022, in Palmdale, Calif. America’s newest nuclear stealth bomber made its debut Friday after years of secret development and as part of the Pentagon’s answer to rising concerns over a future conflict with China. The B-21 Raider is the first new American bomber aircraft in more than 30 years. Almost every aspect of the program is classified.

As evening fell over the Air Force’s Plant 42 in Palmdale, the public got its first glimpse of the Raider in a tightly controlled ceremony. It started with a flyover of the three bombers still in service: the B-52 Stratofortress, the B-1 Lancer and the B-2 Spirit. Then the hangar doors slowly opened and the B-21 was towed partially out of the building.



“This isn’t just another airplane,” Defense Secretary Lloyd Austin said. “It’s the embodiment of America’s determination to defend the republic that we all love.”

The B-21 is part of the Pentagon’s efforts to modernize all three legs of its nuclear triad, which includes silo-launched nuclear ballistic missiles and submarine-launched warheads, as it shifts from the counterterrorism campaigns of recent decades to meet China’s rapid military modernization.



China is on track to have 1,500 nuclear weapons by 2035, and its gains in hypersonics, cyber warfare and space capabilities present “the most consequential and systemic challenge to U.S. national security and the free and open international system,” the Pentagon said this week in its annual China report.

”We needed a new bomber for the 21st Century that would allow us to take on much more complicated threats, like the threats that we fear we would one day face from China, Russia, ” said Deborah Lee James, the Air Force secretary when the Raider contract was announced in 2015.

While the Raider may resemble the B-2, once you get inside, the similarities stop, said Kathy Warden, chief executive of Northrop Grumman Corp., which is building the bomber.

“The way it operates internally is extremely advanced compared to the B-2, because the technology has evolved so much in terms of the computing capability that we can now embed in the software of the B-21,” Warden said.



Other changes include advanced materials used in coatings to make the bomber harder to detect, Austin said.

“Fifty years of advances in low-observable technology have gone into this aircraft,” Austin said. “Even the most sophisticated air defense systems will struggle to detect a B-21 in the sky.”

Other advances likely include new ways to control electronic emissions, so the bomber could spoof adversary radars and disguise itself as another object, and use of new propulsion technologies, several defense analysts said.

“It is incredibly low observability,” Warden said. “You’ll hear it, but you really won’t see it.”

Six Raiders are in production. The Air Force plans to build 100 that can deploy either nuclear weapons or conventional bombs and can be used with or without a human crew. Both the Air Force and Northrop also point to the Raider’s relatively quick development: The bomber went from contract award to debut in seven years. Other new fighter and ship programs have taken decades.

The cost of the bombers is unknown. The Air Force previously put the price at an average cost of $550 million each in 2010 dollars — roughly $753 million today — but it’s unclear how much is actually being spent. The total will depend on how many bombers the Pentagon buys.

“We will soon fly this aircraft, test it, and then move it into production. And we will build the bomber force in numbers suited to the strategic environment ahead,” Austin said.

The undisclosed cost troubles government watchdogs.

“It might be a big challenge for us to do our normal analysis of a major program like this,” said Dan Grazier, a senior defense policy fellow at the Project on Government Oversight. “It’s easy to say that the B-21 is still on schedule before it actually flies. Because it’s only when one of these programs goes into the actual testing phase when real problems are discovered." That, he said, is when schedules start to slip and costs rise.

The B-2 was also envisioned to be a fleet of more than 100 aircraft, but the Air Force built only 21, due to cost overruns and a changed security environment after the Soviet Union fell. Fewer than that are ready to fly on any given day due to the significant maintenance needs of the aging bomber.

The B-21 Raider, which takes its name from the 1942 Doolittle Raid over Tokyo, will be slightly smaller than the B-2 to increase its range, Warden said. It won’t make its first flight until 2023. However, Warden said Northrop Grumman has used advanced computing to test the bomber’s performance using a digital twin, a virtual replica of the one unveiled Friday.

Ellsworth Air Force Base in South Dakota will house the bomber’s first training program and squadron, though the bombers are also expected to be stationed at bases in Texas and Missouri.

U.S. Sen. Mike Rounds, a Republican of South Dakota, led the state’s bid to host the bomber program. In a statement, he called it “the most advanced weapon system ever developed by our country to defend ourselves and our allies.”

Northrop Grumman has also incorporated maintenance lessons learned from the B-2, Warden said.

In October 2001, B-2 pilots set a record when they flew 44 hours straight to drop the first bombs in Afghanistan after the Sept. 11 attacks. The B-2 often does long round-trip missions because there are few hangars globally that can accommodate its wingspan, which limits where it can land for maintenance. The hangars also must be air-conditioned because the Spirit’s windows don’t open and .

The new Raider will also get new hangars to accommodate its size and complexity, Warden said.

However, with the Raider’s extended range, ’it won’t need to be based in-theater,” Austin said. “It won’t need logistical support to hold any target at risk.”

A final noticeable difference was in the debut itself. While both went public in Palmdale, the B-2 was rolled outdoors in 1988 amid much public fanfare. Given advances in surveillance satellites and cameras, the Raider was just partially exposed, keeping its sensitive propulsion systems and sensors under the hangar and protected from overhead eyes.

“The magic of the platform,” Warden said, “is what you don’t see.”

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>>> Rolls-Royce tests hydrogen-fueled aircraft engine in aviation world first


Ars Technica

11-28-22


https://arstechnica.com/cars/2022/11/rolls-royce-tests-hydrogen-fueled-aircraft-engine-in-aviation-world-first/

Successful ground test in the development of hydrogen power to cut carbon emissions.

British engineer Rolls-Royce has successfully used hydrogen instead of conventional jet fuel to power a modern aircraft engine in a world first for the aviation industry, according to the company.

The ground test, which took place at a government test facility at Boscombe Down, used green hydrogen generated by wind and tidal power from the Orkney Islands in Scotland.

Rolls-Royce used a converted AE 2100-A turboprop engine that powers civil and military aircraft to conduct the test in partnership with easyJet.

It marks another step in the industry’s attempts to prove that hydrogen could play a viable role to help companies reduce harmful carbon emissions that contribute to climate change.

The Race to Zero pledge backed by the United Nations is committed to achieving net zero carbon emissions by 2050, and airlines are pushing to use more sustainable fuel as an alternative to petroleum-based jet fuel.

Flying is one of the most difficult industries to decarbonize, and technologies such as electricity or hydrogen-powered aircraft are still years from carrying a plane full of people over long distances.

Airbus plans to use a superjumbo A380 to test hydrogen-powered jet engines as part of a plan to bring a zero emissions aircraft into service by 2035.

The Toulouse-based group is working with CFM International, a joint venture between France’s Safran and General Electric of the US, to develop an engine that can run on hydrogen.

The Rolls-Royce-led trial, although not involving flying an aircraft, is part of a new hydrogen demonstration program launched in the summer by the FTSE 100 group in partnership with easyJet after research showed there was market potential for hydrogen-powered aircraft.

The two companies plan to move on to a second set of tests, which will in turn lead up to a full-scale ground trial of a Rolls-Royce Pearl 15 business jet engine.

Grant Shapps, UK business secretary, described the demonstration as a “prime example of how we can work together to make aviation cleaner while driving jobs across the country.”

Grazia Vittadini, Rolls-Royce chief technology officer, said the test was an “exciting milestone.”

“We are pushing the boundaries to discover the zero carbon possibilities of hydrogen, which could help reshape the future of flight.”

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>>> Lockheed Martin Corporation (LMT), a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The Aeronautics segment offers combat and air mobility aircraft, unmanned air vehicles, and related technologies. The Missiles and Fire Control segment provides air and missile defense systems; tactical missiles and air-to-ground precision strike weapon systems; logistics; fire control systems; mission operations support, readiness, engineering support, and integration services; manned and unmanned ground vehicles; and energy management solutions. The Rotary and Mission Systems segment offers military and commercial helicopters, surface ships, sea and land-based missile defense systems, radar systems, sea and air-based mission and combat systems, command and control mission solutions, cyber solutions, and simulation and training solutions. The Space segment offers satellites; space transportation systems; strategic, advanced strike, and defensive missile systems; and classified systems and services in support of national security systems. This segment also provides network-enabled situational awareness and integrates space and ground-based systems to help its customers gather, analyze, and securely distribute critical intelligence data. It serves primarily serves the U.S. government, as well as foreign military sales contracted through the U.S. government. Lockheed Martin Corporation was founded in 1912 and is headquartered in Bethesda, Maryland.

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>>> Scientists Found Genetic Mutations in Every Astronaut Blood Sample They Studied


Futurism

by Victor Tangermann

Sep 6, 2022


https://www.msn.com/en-us/health/health-news/scientists-found-genetic-mutations-in-every-astronaut-blood-sample-they-studied/ar-AA11x5hm


When they examined decades-old blood samples from 14 NASA astronauts who flew Space Shuttle missions between 1998 and 2001, researchers found that samples from all 14 astronauts showed mutations in their DNA.

While these mutations are likely low enough not to represent a serious threat to the astronauts' long term health, the research underlines the importance of regular health screenings for astronauts, especially as they embark on longer missions to the Moon and beyond in coming years.

The specific mutations, as identified in a new study published in the journal Nature Communications Biology, were marked by a high proportion of blood cells that came from a single clone, a phenomenon called clonal hematopoiesis.

Mutations like this can be caused by exposure to excess ultraviolet radiation, and other forms of radiation including chemotherapy.

In this case, researchers are suspicious that the mutations may have been the result of space radiation.

"Astronauts work in an extreme environment where many factors can result in somatic mutations, most importantly space radiation, which means there is a risk that these mutations could develop into clonal hematopoiesis," said lead author David Goukassian, professor of medicine at the Icahn School of Medicine at Mount Sinai, in a statement.

The topic of astronaut health is more pertinent than ever before. Just last year, NASA proposed to change the radiation limits its astronauts can be exposed to to protect their health.

In short, the agency is trying to allow younger astronauts to be exposed to relatively higher amounts of radiation than older astronauts, and eliminating the differences in limits between men and women.

The blood samples for this latest study were collected from 12 male and two female astronauts ten days before their flight and on the day of their landing. The samples were then cryogenically stored at -112 degrees Fahrenheit for around two decades.

The mutations observed in the blood samples resemble the kind of somatic mutations we see in older individuals — which is interesting on its own, considering the median age of the astronauts was only 42.

"Although the clonal hematopoiesis we observed was of a relatively small size, the fact that we observed these mutations was surprising given the relatively young age and health of these astronauts," Goukassian said.

"The presence of these mutations does not necessarily mean that the astronauts will develop cardiovascular disease or cancer," he added, "but there is the risk that, over time, this could happen through ongoing and prolonged exposure to the extreme environment of deep space."

Therefore, Goukassian and his team are recommending that NASA should regularly screen astronauts for these kinds of mutations.

Scientists have long speculated about the numerous health risks astronauts face when spending extended periods of time in outer space — and the more we discover, the better we can ensure their safety in the long run.

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