Key insights
- BAE Systems opened a $65M facility in NY for developing energy storage systems for electric aircraft and vehicles. Senator Schumer highlighted the project as part of efforts to bring battery supply chain operations back to the US. This signals a minor positive for the US manufacturing sector and potential future growth in related industries.
ENDICOTT, N.Y. - BAE Systems (LON:BA) opened a 150,000-square-foot addition to its Endicott, New York campus on Monday, according to a press release statement. The facility is dedicated to developing and manufacturing high-voltage energy storage systems for hybrid and all-electric aircraft and ground vehicles. The $181.5 billion aerospace giant, which generated $92.2 billion in revenue over the last twelve months, is a prominent player in the Aerospace & Defense industry.
The expansion, first announced last year, represents a $65 million investment and is expected to create 130 jobs. The facility includes an advanced engineering laboratory, automated high-volume manufacturing capabilities, and workspace for the company’s aftermarket services team. Despite revenue growth of 33% over the last twelve months, InvestingPro analysis suggests the stock is currently overvalued relative to its Fair Value. Investors can access comprehensive Pro Research Reports covering BAE Systems and 1,400+ other US equities for deeper analysis.
"This expansion strengthens our ability to meet growing global demand for aircraft and ground vehicle electrification," said Jack Stevens, vice president and general manager of Controls and Avionics Solutions at BAE Systems.
Senator Chuck Schumer commented on the project, stating it "will bring to life a new battery production line, research lab, and office space." He described the expansion as part of efforts to bring battery supply chain operations back to the United States.
The facility will support development of energy storage systems for hybrid and all-electric aircraft and ground vehicles. BAE Systems’ Endicott campus develops flight controls, engine controls, mission systems and power and propulsion solutions for commercial and military applications.
The upgraded facility provides dedicated workspace for BAE Systems’ Horizon Solutions Aftermarket Services and Support team, which serves commercial aircraft customers.
In other recent news, Boeing has been active with several significant developments. Boeing successfully launched the ViaSat-3 F3 satellite from Kennedy Space Center, confirming that the spacecraft is operating normally as it heads toward geostationary orbit. Additionally, SCAT Airlines has expanded its fleet with an order for five more Boeing 737-9 jets and converted five previously ordered 737-8 jets to the larger model. Copa Airlines announced a substantial order for 40 Boeing 737 MAX jets, with options for 20 more, aiming to expand its fleet significantly over the next eight years.
Alaska Airlines has signed a formal license agreement for Boeing’s Virtual Airplane training platform, having been a development partner during its creation. On the financial front, Tigress Financial Partners raised its price target for Boeing, maintaining a Buy rating, citing rising air travel demand and a record backlog as key factors for the increased target. These developments highlight Boeing’s ongoing efforts in both commercial aviation and aerospace sectors.
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