Several executive changes at Flight Options have followed in the wake of Raytheon’s recent full acquisition of the Cleveland-based fractional provider. Chief marketing officer Cameron Gowan is out and company leader S. Michael Scheeringa is solidly in. Last Thursday, Scheeringa was named permanent CEO, after serving as the acting CEO since November 2004. Gowan has left, with his duties going to Jim Dauterman, the v-p of sales and marketing.
Reporting today on its year-end results, Raytheon said that Raytheon Aircraft delivered 255 turbine business airplanes last year (141 jets and 114 King Airs) compared with 219 (115 jets and 104 King Airs) in 2004. This was an increase of 16.4 percent year over year, just short of Raytheon’s revised forecast of 267 turbine business airplanes.
Raytheon Aircraft has joined Gulfstream Aerospace as the only major business aircraft OEMs to elevate the head of product support to the presidential level. Last Friday, the Wichita-based manufacturer announced to its employees the appointment of Randy Groom as president of global customer service and support.
On December 21 Raytheon announced a $3.3 billion “definitive agreement” that will result in the sale of Raytheon Aircraft to Onex Partners of Toronto and GS Capital Partners (an affiliate of New York-based Goldman Sachs) and establish Hawker Beechcraft Corp.
It has been a long road for Raytheon Aircraft, but on November 21 the Hawker 4000 (née Horizon) super-midsize received full FAA certification, following the award of provisional certification almost two years earlier, and more than 10 years since the program was announced at the 1996 NBAA Convention.
Raytheon Systems has sold two radars to HungaroControl, the Hungarian air navigation services provider, and four to the Sultanate of Oman. The first contract, worth $10.6 million, consists of an ASR-23SS L-band primary surveillance radar and a Condor European mode-S monopulse secondary surveillance radar. These systems will replace the older ones in Kõrishegy and Püspökladány.
Exostar has come to Paris to promote the new Certipath trusted identity assurance system, a so-called commercial bridge between defense and aeronautics firms and government customers, primarily the Pentagon and the UK Ministry of Defence.
U.S. defense firm Raytheon is projected to dominate the air defense missile market for the next 10 years, according to a study performed by Forecast International in its annual publication, “The Market for Surface-to-Air Missiles.” FI projected that between 2005 and 2014 more than 88,000 air defense missiles will be produced worldwide, earning revenues of $22.8 billion.
AIN has confirmed that the Carlyle Group, a Washington-based global private equity firm, is one of three bidders for Raytheon Aircraft. The other potential buyers are Cerberus Capital Management, a New York-headquartered investment firm, and Toronto, Canada, holding company Onex.