aerospace industry
Elon Musk Makes History as First Person to Reach $600 Billion Net Worth Following SpaceX Valuation News
Dec 16, 2025 08:29 am CST
Elon Musk has made financial history by becoming the first person ever to reach a $600 billion net worth, driven by SpaceX's potential $800 billion IPO valuation and Tesla's rising stock performance. The tech entrepreneur's wealth continues to expand through his diversified portfolio including SpaceX, Tesla, and AI startup xAI, which is reportedly seeking $15 billion in funding at a $230 billion valuation.
HAL Addresses Tejas Fighter Jet Crash at Dubai Air Show as "Isolated Occurrence" Amid Market Concerns
Nov 24, 2025 04:07 pm CST
State-run Hindustan Aeronautics Ltd (HAL) has classified the fatal Tejas fighter jet crash at the Dubai Air Show as an "isolated occurrence" resulting from "exceptional circumstances." The incident, which claimed the life of Wing Commander Namansh Syal during an aerial display, triggered an 8% drop in HAL shares. The company has assured stakeholders that the crash will not affect business operations or future deliveries while a court of inquiry investigates the cause.
Global Conflicts Drive Record Profits for US Defense Giants Lockheed Martin and RTX in 2025
Oct 22, 2025 09:39 am CST
Major US defense contractors Lockheed Martin and RTX report substantial profit growth driven by ongoing conflicts in Ukraine and the Middle East, with increased demand for missiles, fighter jets, and air defense systems. The Trump administration's $175 billion Golden Dome missile defense initiative further enhances growth prospects for the aerospace and defense sector despite Northrop Grumman's slight sales forecast adjustment.
India Finalizes Rs 62,370 Crore Deal for 97 Indigenous Tejas MK-1A Fighter Jets to Strengthen Air Force
Sep 25, 2025 08:17 pm CST
The Indian Defence Ministry has signed a Rs 62,370 crore contract with Hindustan Aeronautics Limited to procure 97 indigenous Tejas MK-1A light combat aircraft, including 68 fighters and 29 twin-seaters. With over 64% indigenous content and advanced systems like the Uttam AESA Radar, these aircraft will replace aging MiG-21 fighters and support India's self-reliance initiatives while generating approximately 11,750 jobs annually over six years.