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March 3, 2021updated 04 Mar 2021 12:49pm

Australia to make further investment in Boeing Loyal Wingman programme

The Australian Government plans to make a further investment of $115m in the Boeing Loyal Wingman programme.

The Australian Department of Defence has announced that the government will make additional $115m investment in the Boeing Loyal Wingman programme.

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The investment will see Australia procure three additional aircraft to help the country develop ‘teaming tactics’ using crewed platforms.

Loyal Wingman is an unmanned aerial vehicle (UAV) being developed by Boeing Australia in collaboration with the Royal Australian Air Force (RAAF).

The company has welcomed the government’s decision to co-develop an additional three Loyal Wingman aircraft to further the plane’s capabilities.

Boeing Australia, New Zealand & South Pacific president Brendan Nelson said: “The Australian government’s continued investment in the innovative Loyal Wingman programme will create jobs and opportunities for over 35 Australian suppliers and small businesses, including BAE Systems Australia, RUAG Australia, AME Systems and Ferra Engineering.”

Boeing noted that the contract would support the maturation of the aircraft design and evolution of current and future payloads.

It would also create the sustainment system for the aircraft in operations.

Australia Acting Defence Minister Marise Payne said: “Air Force and Boeing are delivering world leading, cutting edge capability that will help protect and support Australia’s most valuable Defence aircraft, and the pilots who fly them.

“At the same time, the programme is supporting Australian jobs and boosting Australia’s Defence Industry.

“Through this Government’s investment in the Loyal Wingman programme, we have helped secure over 100 Australian jobs.

“This includes 33 highly skilled aviation engineering jobs in Victoria that would otherwise have been made redundant in the midst of Covid-19.”

Recently, Boeing Australia and RAAF completed the first flight test of the Loyal Wingman uncrewed aircraft.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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