Astro expands its offerings in the fast-growing eVTOL Market expected to hit $1 Trillion by 2040(1)
Dallas, Texas (Newsfile Corp. - June 2, 2021) - Astro Aerospace Ltd. (OTCQB: ASDN) ("Astro" or the
Urban air mobility operational by 2025, say experts
LONDON, 2 hours, 1 minutes ago The first commercial urban air mobility passenger routes will be operational by 2025, according to 56% eVTOL (electric vertical takeoff and landing) professionals, said Horizon Aircraft, an advanced aerospace engineering company. A further 15% think this will happen between 2026 and 2029, and only 25% think it will happen after 2030, it added. The research was commissioned by Horizon Aircraft that has developed the Cavorite X5, the world’s first eVTOL that can fly the majority of its mission exactly like a normal aircraft. In terms of which countries will have the biggest and most advanced eVTOL markets by 2030, respondents predicted Canada, China and America would be the top three.
Horizon Aircraft’s long-range Cavorite X5 hybrid eVTOL. Photo Credit: Astro Aerospace, Horizon Aircraft
On April 30 Astro Aerospace Ltd. (Dallas, Tex., U.S.) a developer of electric vertical take-off and landing (eVTOL) aerial vehicles and drones, and Horizon Aircraft Inc. (Lindsay, Ontario, Canada), a developer of advanced eVTOLs, have entered into an agreement under which Astro will acquire privately held Horizon for five million common shares of Astro stock, the material terms of which are disclosed in the company’s related 8-K filing.
The transaction, unanimously approved by the respective Boards of Directors, will reportedly broaden Astro’s capabilities, and enable the company to become a leading eVTOL platform while continuing to invest and innovate. Astro’s acquisition of Horizon is expected to close by May 10, subject to customary closing conditions. Upon closing the transaction, the CEO and Co-Founder of Horizon, Brandon Robinson, will be appointed as President
Astro Aerospace to Acquire Horizon Aircraft 03 May 2021
Astro Aerospace Ltd., a developer of eVTOL aerial vehicles and drones, and Horizon Aircraft Inc., a developer of advanced eVTOLs, have entered into an agreement under which Astro will acquire privately-held Horizon.
The acquisition will be realized for five million common shares of Astro stock, the material terms of which are disclosed in the Company s related 8-K filing. The transaction was unanimously approved by the respective Boards of Directors.
The acquisition will broaden Astro s capabilities, and become a leading eVTOL platform while continuing to invest and innovate. The Company s acquisition of Horizon is expected to close in approximately ten days, subject to customary closing conditions. Upon closing the transaction, the CEO and Co-Founder of Horizon, Brandon Robinson, will be appointed as President of Astro and will sit on the Board of Directors. Jason O Neill, Horizon s Chief Operating Officer, will be appo
Urban air mobility market investment to hit $2b issacjohn@khaleejtimes.com Filed on April 26, 2021
The research reveals that over the next three years, 62 per cent of private equity and venture capital professionals expect to see an increased use in special purpose acquisition companies, to buy, invest or raise funds for eVTOL companies. File photo
Around $900 million was invested in the urban air mobility market in the first six months of 2020, but new research with senior private equity and venture capital professionals reveals 59 per cent expect over $2 billion will be invested in the sector this year
Investment in Electric Vertical Take-off and Landing (eVTOL) aerial vehicle technology is expected to hit $2 billion in 2021 with several advanced cities in the world, including Dubai, setting sight on launching air taxi services by next year.