Page 10 - 2021 CNC West April-May
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                 EXEC H TLINE
   Lockheed Receives $1.5B Navy Missile Flight Demo Contract Modification
Lockheed Martin has received a potential $1.54 billion contract modification to design, build and integrate equipment in support of flight test demonstrations of the U.S. Navy’s missile system.
The company’s space business will perform work in Colorado, California, Utah, Arizona and other locations through Feb. 25, 2024, the Department of Defense said in mid- March.
Boeing Southeast Asia Aviation
Boeing anticipates airlines in South- east Asia will need 4,400 new airplanes valued at $700 billion to support expanding demand for air travel over the next 20 years. The intra-Southeast Asian market will become the fifth largest in the world by 2039, and the vast domestic and regional air-travel network across the region positions it well for a post- pandemic recovery, according to Boeing’s 2020 Commercial Market Outlook (CMO).
Boeing projects the region’s commercial airplane fleet will grow 5.3% annually over the next 20 years. In addition, demand for aftermarket commercial services – valued at $790 billion – will help maintain the fleet over the same period.
Overall, Boeing forecasts regional demand for 760 new widebodies by 2039, enabling effi- cient replacement and versatile network growth for Southeast Asia’s airlines. While long-haul market recovery is expected to take longer, Southeast Asia’s twin-aisle fleet is slated to grow by 55% – to 780 widebodies – by 2039.
The region’s commercial aviation services growth remains promising in the long term.
Globally, Boeing projects the need for 43,110 new commercial airplanes and the demand for aftermarket services to be equivalent to $9 trillion over the next two decades. World air cargo traffic is projected to grow 4% annu- ally due to solid industrial production and world trade. Freighters will remain the back- bone of the cargo industry with the need for 930 new and 1,500 converted freighters during the same span.
Fisker to Partner With Foxconn
for New Vehicle
Manhattan Beach, CA.-based electric vehicle maker Fisker Inc. plans to partner with elec- tronics manufacturing giant Foxconn Technol- ogy Group on a new vehicle that could enter production by the end of 2023.
Fisker announced Feb. 24 that it had en- tered into a memorandum of understanding with Taiwan-based Foxconn supporting development of a “new segment vehicle” and eventual produc- tion of around 250,000 units per year.
The company said this would be its second vehicle, with production of the previously announced Ocean model still expected to begin in the fourth quarter of 2022.
AeroVironment Completes Acqui-
sition of Drone-Maker
AeroVironment Inc. completed its acquisition of Arcturus UAV Inc. making it a wholly owned subsidiary under the AeroVironment brand.
The $405 million transaction between the Simi Valley, CA. drone manufacturer and Arc- turus in Petaluma, CA. was originally an- nounced on Jan. 13.
Founded in 2004 and based in Petaluma, Arcturus UAV designs and manufactures Group 2 and Group 3 drones. Those groups are for unmanned aircraft weighing between 21 pounds but no more than 1,320 pounds. AeroVironment already provides aircraft in the light-weight Group 1 segment.
Armtec Books $208M Army Con-
tract to Supply Artillery Charge
System Cases
Armtec Defense Technologies will provide combustible case assemblies to the U.S. Army for 155mm propelling charges under a potential five-year, $207.7 million contract.
The service branch is procuring M231/M232 modular artillery charge system cases through the firm-fixed-price contract, the Department of Defense said in early March.
DOD expects contract services to be com- pleted by March 5, 2026. Coachella, Califor- nia-based Armtec specializes in the production of combustible ordnance and expendable coun- termeasure products for the military sector.
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