Finance
April 26, 2024
The anticipated merger of Bayanat, an AI-powered geospatial solutions provider, and Yahsat, the UAE’s flagship satellite operator, is now close to completion. The shareholders of both companies approved the proposed merger of the two Abu Dhabi-headquartered entities to create Space42, a global AI-powered space technology company. Yahsat announced the combined shareholder approval on April 25.…
April 26, 2024
Space & Airborne Systems and Communication Systems led growth at L3Harris in the first quarter of 2024, contributing to a 17% year-over-year revenue increase. L3Harris reported Q1 results on Friday. Company-wide, revenue in the first quarter was $5.2 billion, up 17% with up 5% organically. The revenue increase was primarily from the Aerojet Rocketdyne acquisition,…
April 25, 2024
Northrop Grumman’s Space segment posted $3.7 billion in sales in the first quarter of 2024, a 9% increase from the same period last year. Northrop Grumman reported Q1 financials on Thursday. Space posted the most revenue of the company’s four segments, but Aeronautics posted the most growth, at 18% year-over-year. Company-wide, Northrop Grumman reported $10.1…
April 23, 2024
Spanish launcher in development PLD Space has raised 78 million euros ($84 million) from investors, the company announced Tuesday. The company plans to use the funds to open the first rocket factory in Elche, Spain in mid-2024. This new funding is in addition to 42 million euros ($45 million) the company received from the Spanish…