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.”
VARD, a subsidiary of the Fincantieri Group based in Norway, secured a contract to construct two Commissioning Service Operation Vessels…
Leonardo announced the finalization of an agreement to sell its Underwater Armaments Systems (UAS) division to Fincantieri on Thursday. “The…
General Atomics Aeronautical Systems, Inc. (GA-ASI) is partnering with Shift5 to integrate the company’s onboard cyber anomaly detection and predictive…
The Malaysian Ministry of Defence (Mindef) has finalised 40 agreements totalling RM7.3 billion, encompassing seven contracts valued at RM1.90 billion,…
Leonardo, an Italian aerospace company, and the Ministry of Defense of Malaysia (Mindef) have marked a significant milestone during the…
Turkish land systems manufacturer Otokar is displaying its Cobra II and Akrep II armoured vehicles at DSA. The Cobra II…
Systems Engineering & Assessment (SEA), a technology company based in the UK, proudly displays its advanced decoy launcher Ancilia, at…
The Czech Republic’s Excalibur Army has its debuts in the ongoing show. The company is bringing a few small scale…
Turkiye’s Secretariat of Defence Industries (Savunma Sanayii Başkanlığı-SSB), has two main objectives: modernization of Turkish Armed Forces, and establishing&developing a…
Malaysian company, Smart Weapon Storage Inntech Sdn Bhd (SWS), which has been around for 20 years, aims to extend its…
“We will continue to provide tailored solutions to our customers,” said Cem Altinisik, FNSS Corporate Communication Manager in an interview…
Tony Chegwidden, the Director of Business Development International at EDGE Group, is sharing his thoughts regarding the group’s focus and…
Boeing has advanced its manned-unmanned teaming (MUM-T) technology using a digital F/A-18 Super Hornet and MQ-25 Stingray. The testing shows…
Malaysia’s Lumut Naval Shipyard Sdn Bhd (LUNAS) inked a Memorandum of Understanding (MoU) with Indonesian shipbuilder PT PAL Indonesia at…
Prime Minister of Malaysia, Datuk Seri Anwar Ibrahim, attended the unveiling of MALVUS SENSE SDN BHD’s CW-25H, a significant development…
KNDS France which is the main provider of artillery systems for the Royal Malaysian Army and a strategic industrial partner…
The upcoming 10th edition of Indo Defence 2024 Expo & Forum, renowned as one of the foremost international defence industry…
Malaysian firm MILDEF International Technologies unveiled its new Tarantula, 4x4 High Mobility Armoured Vehicle (HMAV) at the ongoing DSA. Also…
Nurol Makina and Nadicorp (Badanbas) are showing their NMS 4X4 armoured vehicle in Royal Malaysian Army camouflage for the first…
South African defence firm Denel is presenting its portfolio of guided weapons and land defence systems at the show. “Denel…
The Malaysian armed forces are accelerating their procurements of modern military equipment in their quest to transform their combat capability.…
PT Dirgantara Indonesia (PTDI) is currently participating in the Defense Services Asia (DSA) 2024 defence exhibition, scheduled from 6th to…
The French defence company and a leader in ground mobility solutions, Arquus is showcasing its proven range of defence and…
Tell me about Cendana Auto, and the products that you're featuring here? Cendana Auto is 100% a local Malaysian company,…
Thailand’s defence land system company, Chaiseri, is bringing three of its First Win (FW) series armoured vehicles to the show.…
Turkish weapons company Roketsan is showcasing its broad range of missile equipment at the ongoing show including its new generation…
Malaysia will buy 10 AN/AAQ-33 Sniper Advanced Targeting Pods from the United States. The proposed sale will improve Malaysia’s capability…
As far as high-profile visits go, this one was right up there on the list. After speaking at the opening…
Malaysia’s Weststar Defence Industries has partnered with International Armored Group (IAG) to display the IAG Guardian Armoured Personnel Carrier (APC)…
Singapore Minister for Defence Dr Ng Eng Hen’s presence at the ongoing show and his meeting with Malaysia's Prime Minister…
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
2024 GBP all rights reserved.