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Air taxi firm Joby acquires defense tech company for $500 million

Air taxi firm Joby acquires defense tech company for $500 million

Aug 11 (Reuters) - Joby Aviation said on Tuesday it would buy defense technology company Resonant Sciences for about $500 million, as it looks to scale its business in a growing defense market.
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Joby Aviation Strengthens Military Ties with $500 Million Acquisition

Joby Aviation Strengthens Military Ties with $500 Million Acquisition

Joby Aviation Strengthens Military Ties with $500 Million Acquisition
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Joby Aviation Expands Defense Sector with $500 Million Acquisition

Joby Aviation Expands Defense Sector with $500 Million Acquisition

Joby Aviation Expands Defense Sector with $500 Million Acquisition
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Elbit Systems Leverages $32 Billion Backlog to Invest in Airborne Laser Technology

Elbit Systems Leverages $32 Billion Backlog to Invest in Airborne Laser Technology

Elbit Systems, an Israeli defense contractor, has reported a record $32 billion order backlog, driven by increased demand for its defense technologies amid ongoing conflicts in the Middle East and Ukraine. The company has seen significant revenue growth, with second-quarter earnings reaching $2.29 billion, a 16% increase from the previous year. Elbit is investing heavily in next-generation warfare technologies, including high-power lasers and directed-energy systems. The company is developing a high-power airborne laser system for helicopters and fighter aircraft, aiming to enhance its defense capabilities.
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FAA Forecasts 24,600 eVTOL Departures in First Year, Highlighting Industry Growth

FAA Forecasts 24,600 eVTOL Departures in First Year, Highlighting Industry Growth

FAA Forecasts 24,600 eVTOL Departures in First Year, Highlighting Industry Growth
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Ukraine Develops FP-7.x Interceptor Amid U.S. Patriot Missile Shortages

Ukraine Develops FP-7.x Interceptor Amid U.S. Patriot Missile Shortages

Ukraine is advancing the development of the FP-7.x interceptor missile to address the shortage of U.S.-made Patriot PAC-3 air defense missiles. The FP-7.x is part of Ukraine's FREYJA air and missile-defense project, spearheaded by the Ukrainian company Fire Point. This initiative aims to create a cost-effective alternative to the expensive and scarce Patriot interceptors, which are crucial for defending against Russian ballistic missile threats. The FP-7.x is not intended to replace the entire Patriot system but to complement it by handling selected threats, thereby preserving the more advanced PAC-3 missiles for the most critical engagements. The development comes as global demand for PAC-3 interceptors remains high, with production constrained by specialized manufacturing requirements.
The Columbus Dispatch The Columbus Dispatch
Add electricity bills to list of things Ramaswamy doesn't understand | Letters

Add electricity bills to list of things Ramaswamy doesn't understand | Letters

Letters: Electricity wouldn't be free under Ramaswamy's plan. Haitian migrants are our neighbors. Moreno should resign
TheStreet TheStreet
Another airline files for bankruptcy, to liquidate

Another airline files for bankruptcy, to liquidate

Between the war in Iran and the regular challenges and high financial costs of being in aviation, multiple small airlines in different corners of Europe have filed for bankruptcy or shut down in the last year. In Russia, the aviation industry has been in a particularly dire state after the ...
AP News AP News
Why the elaborate ruse Trump used in Turkey isn't like other secret presidential trips

Why the elaborate ruse Trump used in Turkey isn't like other secret presidential trips

President Donald Trump's secretive overseas trip out of Turkey in July has raised eyebrows because his advisers went to extraordinary lengths to conceal his whereabouts from the public
Reuters Reuters
What is the Patriot missile system and why are supplies depleted worldwide?

What is the Patriot missile system and why are supplies depleted worldwide?

(Deletes information in paragraphs 20-21 on use, remaining inventories and US sales of missile interceptors in Saudi Arabia and other Gulf nations, which were not addressed in the CSIS report) WASHINGTON, Aug 7 (Reuters) - First used in the 1991 Gulf War, the U.S.
USA Today USA Today
Pentagon seeks plans to accelerate weapons production

Pentagon seeks plans to accelerate weapons production

The Pentagon has asked defense industry leaders for plans to speed weapons production as experts warn stockpiles have been depleted .
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U.S. Defense Industry Faces Challenges Amidst Global Tensions and Stockpile Concerns

U.S. Defense Industry Faces Challenges Amidst Global Tensions and Stockpile Concerns

The U.S. defense industry is grappling with challenges related to munitions stockpiles and production capabilities amidst rising global tensions. Matthew Kroenig, a senior fellow with the Atlantic Council, highlights concerns about the U.S. defense industrial base's ability to meet current demands, particularly in light of conflicts involving Ukraine and Iran. The consolidation of defense contractors from 51 to five major companies has impacted production capacity. The U.S. government is responding by proposing a significant increase in the defense budget for 2027, aiming to revitalize the defense industrial base. However, issues such as workforce shortages and the need for long-term contracts to justify new production lines remain significant hurdles.