Boeing is investing US$20 million in Virgin Galactic, a vertically integrated human spaceflight company. The companies will work together to broaden commercial space access and transform global travel technologies. "Boeing's strategic investment facilitates our effort to drive the commercialization of space and broaden consumer access to safe, efficient, and environmentally responsible new forms of transportation," said Brian Schettler, senior managing director of Boeing HorizonX Ventures. "Our work with Virgin Galactic, and others, will help unlock the future of space travel and high-speed mobility." To date, Virgin Galactic has invested US$1 billion of capital to build reusable human spaceflight systems designed to enable significantly more people to experience and utilize space. In July, the company announced its intent to become a publicly-listed entity via a business combination with Social Capital Hedosophia Holdings Corp. The Boeing investment will be in return for new shares in Virgin Galactic and is therefore contingent on the closing of that transaction, which is expected to close in the fourth quarter of 2019, and any such investment will be in the post-business combination company. This investment brings together two companies with extensive experience in the space industry. Virgin Galactic is a pioneer of commercial human space flight and is the first and only company to have put humans into space in a vehicle built for commercial service, having built and flown a Mach 3 passenger vehicle. Through its manufacturing and development capabilities, Virgin Galactic can design, build, test, and operate a fleet of advanced aerospace vehicles. Boeing has unsurpassed experience transporting people to orbit and building and operating large structures in that challenging environment. A part of every US manned space program, Boeing serves as NASA's prime contractor for the International Space Station (ISS) and is preparing the new, reusable, Starliner space capsule for launch to the ISS. "This is the beginning of an important collaboration for the future of air and space travel, which are the natural next steps for our human spaceflight program," said Sir Richard Branson, founder of Virgin Galactic. "Virgin Galactic and Boeing share a vision of opening access to the world and space, to more people, in safe and environmentally responsible ways." Boeing Defense, Space & Security President and CEO Leanne Caret, said, "The unique expertise of our companies stretches from points all around the world to the deepest reaches of space. Together we will change how people travel on Earth, and among the stars, for generations to come." George Whitesides, CEO of Virgin Galactic, noted, "We are excited to partner with Boeing to develop something that can truly change how people move around the planet and connect with one another. As a Virgin company, our focus will be on a safe and unparalleled customer experience, with environmental responsibility to the fore."
The LCA Mk1A made its maiden public appearance on the inaugural day of the airshow. 83 aircraft are on order…
Hindustan Aeronautics Limited (HAL) has rebranded its Hindustan Jet Trainer (HJT-36), which was earlier known as the ‘Sitara’. The Intermediate…
India’s domestic defence industry ecosystem is now at an inflexion point, with earlier weapon system developments attaining maturity and several…
Thales is showcasing its FlytX suite for helicopters for the first time in India. The FlytX avionics suite can be…
Hensoldt is presenting its next-generation airborne sensor solutions tailored for the requirements of the Indian armed forces at the ongoing…
Rolls-Royce has signaled its intent at the ongoing airshow, to double its supply chain sourcing from India over the next…
Tata Boeing Aerospace Limited (TBAL) has reported the delivery of the 300th fuselage for the AH-64 Apache attack helicopter from…
Chipsan Aviation, a non-scheduled air operator in India, announced its plans at the ongoing airshow to deploy Airbus H160 helicopters…
The Aeronautical Development Agency (ADA) is targeting a certification date of 2028 for its 18-tonne class LCA AF Mk2, Dr.…
India’s state-owned Defence Public Sector Undertaking (DPSU) Bharat Electronics Limited (BEL) which racked up Rupees 350 billion worth of new…
The Indian state-owned Defence Public Sector Undertaking (DPSU) Bharat Dynamics Limited (BDL) signed an agreement on the inaugural day of…
The Indian Army Chief, General Upendra Dwivedi was briefed on the Airbus Helicopter H125 reconnaissance helicopters at the ongoing airshow.…
Experience the first highlights of Aero India 2025, featuring breathtaking flying displays of fighter jets, helicopters, and aerobatic teams. Explore…
Embraer’s E-Freighter, the E190F, is fully certified by the European Union Aviation Safety Agency (EASA) and is therefore certified for…
ST Engineering has secured contracts with two major Middle Eastern operators for the maintenance, repair, and overhaul (MRO) of CFM56-7B…
Air New Zealand has become a member of the Association of Asia Pacific Airlines (AAPA), the organisation announced today. AAPA…
South Korea’s Hanwha Aerospace has finalised an agreement with Thailand’s Defence Technology Institute (DTI) and Chaiseri to develop the K200…
Indra has signed a contract with the National Procurement Office (BAAINBw) of the German Armed Forces (Bundeswehr) to provide the…
India’s biennial airshow is now central to the nation’s efforts to grow its defence industrial base. Speaking at the curtain…
India is eyeing defence export opportunities to Southeast Asia In 2024, India’s defence exports reached a historic milestone, surpassing INR…
The United States is showcasing a range of advanced aircraft at the ongoing Aero India, highlighting its growing defence partnership with…
Russia’s Sukhoi Su-57E fifth-generation fighter jet is making its maiden appearance at Aero India, as the Russian airframer vies for…
The European missile major, MBDA is eyeing further growth in the Indian market with its participation at the ongoing airshow.…
The Indian Navy which has transformed from a Buyer’s Navy to a Builder’s Navy with over 60 warships being constructed at Indian…
Saab is showcasing a Full Scale Replica (FSR) of its Gripen E along with a Gripen E cockpit simulator at…
Embraer has brought a KC-390 Millennium tactical transport aircraft to Aero India, highlighting its seriousness in meeting an Indian Air…
India’s biennial airshow Aero India is a showcase to New Delhi’s aspirations to emerge as an international Aerospace & Defence…
India’s state-owned airframer Hindustan Aeronautics Limited (HAL) is pushing ahead with its ambitious autonomous Combat Air Teaming System (CATS) programme.…
Israeli company Elbit Systems has been awarded a contract valued at approximately US$57 million to supply its PULS Rocket Launcher…
Israeli company Ottopia has developed a system that enables the effective remote control of vehicles used by armed forces. In…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2025 GBP all rights reserved.