General aviation

HONEYWELL FORECAST SHOWS STRONG DEMAND FOR NEW BUSINESS JETS, INCREASED FOCUS ON REDUCING EMISSIONS

Retrieved on: 
Monday, October 16, 2023
Aircraft, Investment, Geography, COVID-19, Retirement, Honeywell Aerospace, SAF, Death, COVID, Honeywell, Original equipment manufacturer, Carbon, Aviation, Growth, Sale, Airline, Jet fuel, Tourism, Renewable energy, General aviation

Additionally, new users in business aviation have increased demand by 500 aircraft and 6% more flights over the next 10 years.

Key Points: 
  • Additionally, new users in business aviation have increased demand by 500 aircraft and 6% more flights over the next 10 years.
  • This, along with expected double-digit increases in turbofan deliveries in 2023 and 2024, shows our industry's commitment to meeting growing demand."
  • Key findings in the 2023 Honeywell Global Business Aviation Outlook include:
    New business jet deliveries in 2024 are expected to be 10% higher than in 2023.
  • Honeywell also uses information gathered from interviews conducted during the forecasting cycle with 100 nonfractional business jet operators representing a fleet of 206 business aircraft worldwide.

Astronics Corporation Reports 2023 Second Quarter Financial Results

Retrieved on: 
Thursday, August 3, 2023
Aerospace, Technology, Manufacturing, Other Transport, Air, Transport, Other Manufacturing, Other Defense, Defense, Engineering, Electronic Design Automation, Workforce, Capital expenditure, Travel, General aviation, GAAP, Research, Absorption, Public expenditure, History of U.S. Marine Corps Operations in World War II, EBITDA, Eagle Test Systems, Risk, Capital, Growth, Consolidated, Adjustment, Astronics Corporation, Bookkeeping, Payment card, Video game, Pharmaceutical industry, Airline, Tourism, Test

Second Quarter 2023 Results (compared with the prior-year period, unless noted otherwise)

Key Points: 
  • Second Quarter 2023 Results (compared with the prior-year period, unless noted otherwise)
    Consolidated sales were up $45.3 million, or 35.1%, from the second quarter of 2022, and up 11.4% sequentially.
  • Aerospace Second Quarter 2023 Results (compared with the prior-year period, unless noted otherwise)
    Aerospace segment sales increased $49.1 million, or 44.9%, to $158.4 million, and up 16.8% sequentially.
  • Backlog was $88.5 million at the end of the second quarter of 2023 compared with backlog of $83.6 million at the end of the second quarter of 2022.
  • Cash used for operations was $2.0 million in second quarter of 2023, improving from cash used of $19.2 million in the prior quarter.

Connected Aircraft Market worth $16.5 Billion by 2028 - Exclusive Report by MarketsandMarkets™

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Friday, July 28, 2023
Aircraft, Cloud, Life, Internet, Aviation, General aviation, Commercial, Region, Aircraft type club, Component, Atmosphere, Smartphone, Cloud computing, Work, Machine learning, Flight management system, Hardware, Growth, Navigation, OEM, Viasat (American company), Business, Raytheon Technologies, Honeywell, Weather, PCS, Communication, Thales Group, Electronic flight bag, EFB, Commercial aviation, Artificial intelligence, Video game, Beauty salon, Airline, Software, Retrofitting, Tablet, Platform

The software segment is projected to hold the largest market share during the forecast period based on the type.

Key Points: 
  • The software segment is projected to hold the largest market share during the forecast period based on the type.
  • These innovations have paved the way for more sophisticated and efficient software solutions that enhance connectivity and communication capabilities in aircraft.
  • Based on the platform, the commercial aviation segment is expected to hold a higher market share in 2023.
  • The Connected Aircraft Industry has been studied in North America, Europe, Asia Pacific, and Rest of the World.

Connected Aircraft Market worth $16.5 Billion by 2028 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Friday, July 28, 2023
Aircraft, Cloud, Life, Internet, Aviation, General aviation, Commercial, Region, Aircraft type club, Component, Atmosphere, Smartphone, Cloud computing, Work, Machine learning, Flight management system, Hardware, Growth, Navigation, OEM, Viasat (American company), Business, Raytheon Technologies, Honeywell, Weather, PCS, Communication, Thales Group, Electronic flight bag, EFB, Commercial aviation, Artificial intelligence, Video game, Beauty salon, Airline, Software, Retrofitting, Tablet, Platform

The software segment is projected to hold the largest market share during the forecast period based on the type.

Key Points: 
  • The software segment is projected to hold the largest market share during the forecast period based on the type.
  • These innovations have paved the way for more sophisticated and efficient software solutions that enhance connectivity and communication capabilities in aircraft.
  • Based on the platform, the commercial aviation segment is expected to hold a higher market share in 2023.
  • The Connected Aircraft Industry has been studied in North America, Europe, Asia Pacific, and Rest of the World.

Aircraft Fuel Cells Market worth $5.7 billion by 2035 - Exclusive Report by MarketsandMarkets™

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Wednesday, July 26, 2023
Hydrogen, Aircraft, Piasecki Aircraft, Aircraft type club, Advanced Air Mobility, Component, Apus, Conversion, Infrastructure, Oxygen, Electricity, AAM, Aircraft Technologies Acro 1, General aviation, Business, Air taxi, Urban Air Mobility, Commercial aviation, Research, Personal air vehicle, Unmanned aerial vehicle, Carbon, Power density, Environmental monitoring, Boeing Cargo Air Vehicle, Fuel cell, Air medical services, Air travel, Lithium battery, Water, Growth, UAV, Commercial, OEM, Rotorcraft, Oil, Transport, Airline, Application, Region

The hydrogen fuel cell type accounts for the largest market share in the aircraft fuel cell market due to several key factors.

Key Points: 
  • The hydrogen fuel cell type accounts for the largest market share in the aircraft fuel cell market due to several key factors.
  • This zero-emission characteristic positions hydrogen fuel cells as an attractive solution for aircraft propulsion, ensuring compliance with stringent emission regulations.
  • Furthermore, advancements in hydrogen infrastructure and storage technologies have facilitated the availability and integration of hydrogen fuel cells in aircraft, further driving their market dominance.
  • The 0-100kW segment accounts for the largest market share in the aircraft fuel cell market.

Aircraft Fuel Cells Market worth $5.7 billion by 2035 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Wednesday, July 26, 2023
Hydrogen, Aircraft, Piasecki Aircraft, Aircraft type club, Advanced Air Mobility, Component, Apus, Conversion, Infrastructure, Oxygen, Electricity, AAM, Aircraft Technologies Acro 1, General aviation, Business, Air taxi, Urban Air Mobility, Commercial aviation, Research, Personal air vehicle, Unmanned aerial vehicle, Carbon, Power density, Environmental monitoring, Boeing Cargo Air Vehicle, Fuel cell, Air medical services, Air travel, Lithium battery, Water, Growth, UAV, Commercial, OEM, Rotorcraft, Oil, Transport, Airline, Application, Region

The hydrogen fuel cell type accounts for the largest market share in the aircraft fuel cell market due to several key factors.

Key Points: 
  • The hydrogen fuel cell type accounts for the largest market share in the aircraft fuel cell market due to several key factors.
  • This zero-emission characteristic positions hydrogen fuel cells as an attractive solution for aircraft propulsion, ensuring compliance with stringent emission regulations.
  • Furthermore, advancements in hydrogen infrastructure and storage technologies have facilitated the availability and integration of hydrogen fuel cells in aircraft, further driving their market dominance.
  • The 0-100kW segment accounts for the largest market share in the aircraft fuel cell market.

Baxter Appoints William Ampofo to Its Board

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Thursday, June 29, 2023
Health, General Health, Parliamentary Information Technology Committee, Dallas Regional Chamber, Information technology, Multichannel multipoint distribution service, Part, General aviation, Trustee, Baxter International, In re Caremark International Inc. Derivative Litigation, Business administration, General Aviation Manufacturers Association, UTC, Adelphi University, Master of Business Administration, United Technologies, George Washington University, NYSE, Cheshire Academy, Management, Boeing

Baxter International Inc. (NYSE:BAX), a global medtech leader, today announced it has appointed William A. Ampofo II, chair, Supply Chain Operations Council and vice president, Parts & Distribution Services and Supply Chain, Boeing Global Services, to its board of directors.

Key Points: 
  • Baxter International Inc. (NYSE:BAX), a global medtech leader, today announced it has appointed William A. Ampofo II, chair, Supply Chain Operations Council and vice president, Parts & Distribution Services and Supply Chain, Boeing Global Services, to its board of directors.
  • His appointment is effective today and brings the total number of directors serving the company to 11.
  • Mr. Ampofo earned a bachelor’s degree in finance from Adelphi University and a Master of Business Administration from George Washington University.
  • In addition, he is a past advisory board member for Howard University’s Center of Excellence in Supply Chain Management.

Pratt & Whitney Canada Launches PW545D Engine to Power New Cessna Citation Ascend

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Monday, May 22, 2023
Canada, Maintenance, Pratt & Whitney, TBO, Kerosene, Noise, SAF, SFC, General aviation, Textron Aviation, FADEC, Ascend, Pratt & Whitney Canada PW800, Pratt & Whitney Canada, Family, Cessna, CO2, Economics, Safety, Aircraft, Jet fuel

GENEVA, May 22, 2023 /PRNewswire/ -- Pratt & Whitney Canada, a business unit of Pratt & Whitney, today announced that its new PW545D engine will power the Cessna Citation Ascend, the latest addition to Textron Aviation's business jet family.

Key Points: 
  • GENEVA, May 22, 2023 /PRNewswire/ -- Pratt & Whitney Canada, a business unit of Pratt & Whitney, today announced that its new PW545D engine will power the Cessna Citation Ascend, the latest addition to Textron Aviation's business jet family.
  • The new engine is also equipped with Full Authority Digital Engine Control (FADEC) technology, which is included with many PW500 models.
  • The PW545D engine will help provide Citation Ascend operators with the flexibility to accomplish a variety of missions, including charter services, personal transportation and corporate flights.
  • This year, Pratt & Whitney Canada is celebrating 1 billion hours of flight for its entire engine fleet.

Pratt & Whitney Canada Launches PW545D Engine to Power New Cessna Citation Ascend

Retrieved on: 
Monday, May 22, 2023
Canada, Maintenance, Pratt & Whitney, TBO, Kerosene, Noise, SAF, SFC, General aviation, Textron Aviation, FADEC, Ascend, Pratt & Whitney Canada PW800, Pratt & Whitney Canada, Family, Cessna, CO2, Economics, Safety, Aircraft, Jet fuel

GENEVA, May 22, 2023 /PRNewswire/ -- Pratt & Whitney Canada, a business unit of Pratt & Whitney, today announced that its new PW545D engine will power the Cessna Citation Ascend, the latest addition to Textron Aviation's business jet family.

Key Points: 
  • GENEVA, May 22, 2023 /PRNewswire/ -- Pratt & Whitney Canada, a business unit of Pratt & Whitney, today announced that its new PW545D engine will power the Cessna Citation Ascend, the latest addition to Textron Aviation's business jet family.
  • The new engine is also equipped with Full Authority Digital Engine Control (FADEC) technology, which is included with many PW500 models.
  • The PW545D engine will help provide Citation Ascend operators with the flexibility to accomplish a variety of missions, including charter services, personal transportation and corporate flights.
  • This year, Pratt & Whitney Canada is celebrating 1 billion hours of flight for its entire engine fleet.

Astronics Corporation Reports 2023 First Quarter Financial Results

Retrieved on: 
Tuesday, May 9, 2023
Aerospace, Technology, Manufacturing, Other Transport, Air, Transport, Other Manufacturing, Other Defense, Defense, Engineering, Electronic Design Automation, Aircraft, Workforce, FLRAA, Capital expenditure, Aviation, General aviation, GAAP, Research, Absorption, Sale, Public expenditure, EBITDA, United States Marine Corps, Acquisition, Air travel, Eagle Test Systems, United States Department of the Army, Capital, Consolidated, Adjustment, Astronics Corporation, Pharmaceutical industry, Airline, Video game, Television

First Quarter 2023 Results (compared with the prior-year period, unless noted otherwise)

Key Points: 
  • First Quarter 2023 Results (compared with the prior-year period, unless noted otherwise)
    Consolidated sales were up $40.4 million, or 34.7%, from the first quarter of 2022.
  • Other income in the 2023 first quarter included $1.8 million associated with the reversal of a liability related to an equity investment.
  • Backlog was $86.3 million at the end of the first quarter of 2023 compared with backlog of $81.1 million at the end of the first quarter of 2022.
  • During the teleconference, management will review the financial and operating results for the period and discuss Astronics’ corporate strategy and outlook.