Aeralis taps into mystery Middle Eastern wealth fund
Aeralis announced on 16 September that it has signed an investment agreement with an unnamed Middle Eastern sovereign wealth fund.
The UK-based aircraft designer added in a statement during DSEI 2021 that the wealth fund has invested an initial £10.5 million ($14.5 million) to ‘support the design, development and first flight’ of its Advanced Jet Trainer (AJT) platform.
Aeralis CEO Tristan Crawford hailed the deal as a ‘transformational moment’.
Shephard recently reported that Aeralis has added Atkins and Siemens Digital Industries Software to its integrated design team, with a first AJT flight planned for 2024.
Other configurations for the modular Aeralis platform will include light attack, jet training and aerobatic display.
More from DSEI 2021 News
Banshee target drones could be used by the RN for experimentation of future sensors, weaponry and radio equipment.
Horizon Aerospace Technologies, a subsidiary of Horizon Technologies, finished DSEI with the announcement of a $1 million sale of its FlyingFish system.
UK partners combine in a bid to mitigate the physical burden on armoured vehicle crews.
The Warship Integrated Navigation and Bridge System from Raytheon is already installed on the RN's Daring-class Type 45 destroyers — but the company has broader ambitions.
Arnold Defense has announced the next stage of development for their Fletcher rocket launcher.
A bridge mounted on a Boxer vehicle was one of the most prominent equipment displays at DSEI this year.