The celebrity investors on Shark Tank have unanimously agreed to invest money into drone maker xCraft. Charles Manning and founder JD Claridge made a successful pitch on the popular ABC television show, raising money for a drone that can take off like a helicopter and move forward like an aircraft. The outcome was revealed on Friday, as the pre-recorded Shark Tank episode aired.
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Category Archives: Business News
Aeryon Labs Gets $60 Million in Growth Financing
Aeryon Labs Inc., a manufacturer of small unmanned aerial systems (sUAS) and mission control software, announced that it has closed a $60 million investment from Summit Partners. This investment will help the company realize its ambitious vision for the sUAS market, which sees widespread adoption across military, public safety and commercial operators worldwide.
Korea to Supply Global Hawk Components
During the Seoul International Aerospace and Defense Exhibition, Northrop Grumman Corporation and its supplier partners celebrated the first component parts manufactured in the Republic of Korea for the country’s RQ-4 Global Hawk unmanned aircraft system (UAS). Global Hawk provides valuable wide-area intelligence gathering capabilities to military commanders. Continue reading
GA‑ASI Gets $358M Full-Rate Production Contract for 19 Improved Gray Eagles from US Army
General Atomics Aeronautical Systems announced that it has been awarded a full-rate production contract by the US Army for 19 Improved Gray Eagle unmanned aircraft to be delivered by September 2018.
AeroVironment Gets $18.5 Raven Contract for Seven US Allies
AeroVironment, Inc. announced that it has been awarded a firm-fixed-price contract from the United States Army totalling $18,485,495 to supply initial RQ-11B Raven unmanned aircraft systems (UAS), spare parts and contractor logistics services to seven allied nations through the Foreign Military Sales (FMS) programme.
Protector will be MQ-9 Reaper Derivative
The UK Ministry of Defence has confirmed that the unmanned air vehicle that it plans to acquire under its recently-announced Protector effort will be a derivative of the General Atomics Aeronautical Systems MQ-9 Reaper that the Royal Air Force operates. Continue reading
State Dept Clears Spain’s $243M Reaper Purchase
The US State Department has approved Spain’s request to purchase four General Atomics-built Reaper unmanned aerial vehicles and associated equipment from the U.S. under a $243 million foreign military sale.
Second Hammerhead Customer by Farnborough
Piaggio Aerospace is committed to securing a second European customer for its P.1HH HammerHead unmanned air vehicle by July’s Farnborough air show, following launch customer Italy’s commitment earlier this year to purchase six aircraft and three ground stations, for delivery in 2016. Continue reading