Aspen Avionics Joining New Aerospace/Defense Group | Aviation International News

Finance, Taxes, Insurance

Aspen Avionics Joining New Aerospace/Defense Group

Airo Group is consolidating a number of aerospace and defense companies in a bid to develop a new publicly traded company.

By Matt Thurber • Editor-in-Chief

August 4, 2020

Airo Group has come together as a growing mid-tier aerospace and defense (A&D) company aiming to fill a void left by the mergers of midsize companies with larger A&D players. The group plans to bring nine companies together under Airo’s Project Jupiter after launching with founding companies Airo Drone and AgileDefense. Six other companies are targeted for acquisition under signed letters of intent, including urban air mobility (UAM) vehicle developer VRCO and avionics manufacturer Aspen Avionics, and one company as part of a joint venture.

According to Airo Group CEO Joe Burns, the new company’s goal is to target three key growth areas in aerospace and defense: drone technology and UAM; advanced avionics; and defense and training. Plans call for going public with an initial public offering or through the purchase of a special acquisition stock company (SPAC).

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