Israeli insurer Phoenix Holdings Ltd. bought a 5.18% stake in Israeli drone maker Aeronautics Defense Systems Ltd., according to a Monday filing to the Tel Aviv Stock Exchange. The deal was completed in late March. Continue reading
Category Archives: Business News
Fotokite Wins $1M Genius NY competition
Fotokite, a Switzerland-based company that developed a kite-like, tethered drone that can stay in the air almost indefinitely, won the $1 million grand prize in the Genius NY business competition Monday. Continue reading
Germany to Lease Heron Systems for $1.1 Billion
The German Ministry of Defense is looking to reviving a multi-billion dollar deal for leasing Israel-built unmanned aerial vehicles (UAV), after the Budget Committee in the German Parliament decided to postpone the acquisition in June 2017. Continue reading
Australia Orders Extra WASP AE Systems for A$1.4M
XTEK Ltd has received a purchase order from the Australian Defence Force (ADF) worth A$1.4 million for additional WASP AE small unmanned aerial systems. The order includes associated after-market services including technical support, training and spare equipment. Continue reading
COPTRZ Becomes UK Distributor of Pulse Aerospace VAPOR
COPTRZ, the UK commercial drone solution provider, has announced it has put pen to paper on a new agreement with Pulse Aerospace, the commercial drone manufacturer which produces the VAPOR range of helicopter UAS. Continue reading
Germany to Buy MQ-4C Triton Systems for $2.5B
US State Department officials approved a possible Foreign Military Sale (FMS) to Germany of MQ-4C Triton Unmanned Aircraft Systems (UAS) for an estimated cost of $2.5 billion. Continue reading
Boeing Selects Rolls-Royce Turbofan for MQ-25
Boeing Phantom Works’ MQ-25 unmanned aerial vehicle prototype is powered by a single, 9,000 lb-thrust Rolls-Royce AE3007N turbofan, Boeing disclosed on 5 April. Continue reading
UK $500M MQ-9 Support Extension Approved
The US State Department has made a determination approving a possible Foreign Military Sale to the United Kingdom of defense articles and services for continued follow-on support to the MQ-9 Reaper program for an estimated cost of $500 million. Continue reading