Category Archives: Business News

Nordic Unmanned Enters European Fixed Wing Drone Market with Textron

Nordic Unmanned has teamed up with Textron Systems Corporation, a Textron Inc. company, to enter the fixed wing segment of the European drone market. The first commercial opportunity for the team is already targeted, as Nordic Unmanned is competing for a contract with the European Maritime Safety Agency (EMSA) with Textron Systems as its supplier of platform and lifecycle support. Continue reading

Textron Sets Up eAviation Division

Bell Nexus electric air taxi

Textron is formalizing its presence in the electric aircraft market with the formation of a new division called eAviation. The company confirmed that long-time senior executive Rob Scholl has been named to head the unit in a senior v-p role that reports directly to Textron chairman and CEO Scott Donnelly. Scholl previously was the senior v-p of sales and marketing at Textron Aviation. Continue reading

airBaltic and LMT to Collaborate on Drone Innovations

Latvian national airline airBaltic and LMT have signed an agreement for collaboration within the drone industry. The agreement foresees a joined development of various drone solutions overseen by general aviation and the development of LMT’s learning program for drone pilots. Both companies will also collaborate on testing the mobile network coverage in the air space. Continue reading

AeroVironment Gets $21M US Army Contract Option for Raven Radio Frequency Modifications

AeroVironment, Inc.  announced that the United States Army exercised the second of three options under the sole source Flight Control Systems (FCS) domain of the Army’s multi-year small UAS contract on February 25, 2021. The value of the contract option is $20,979,905 and includes avionics and data link upgrade packages to modify radio frequencies employed by the Army’s existing fleet of Raven tactical UAS. Continue reading

Volocopter Raises €200M in Series D Funding Round

Urban air mobility (UAM) company Volocopter announced the signing of its Series D funding round, raising €200 million in additional capital. Cumulatively, Volocopter has raised €322 million. The funding will be used to solidify Volocopter’s leading position in the UAM market by bringing the VoloCity, the battery-powered air taxi for cities, to certification and by accelerating the launch of its first commercial routes. Continue reading

Toshiba Invests $15M in C-UAS Company Fortem

Toshiba Corporation announced that Toshiba Infrastructure Systems & Solutions Corporation, the Toshiba Group company specializing in the global infrastructure business (hereinafter Toshiba), has entered into a strategic business alliance with Fortem Technologies, Inc. (hereafter Fortem), and invested 15 million USD in the company. Fortem is a supplier of counter-drone security systems and Toshiba, through the alliance, aims to expand its radar-based security solutions business. Continue reading