by Richard Tomkins
Tel Aviv, Israel (UPI) Feb 3, 2016
Israeli and South Korean companies have signed a memorandum of understanding to form a joint venture for the development, manufacture, and marketing of vertical-takeoff-and-landing unmanned aerial vehicles.
Under the agreement, Israel Aerospace Industries and Hankuk Carbon, a composite manufacturer, will begin by developing a vehicle with the maximum takeoff weight of between 441 pounds and 661 pounds primarily for Korea's domestic market.
IAI said adding a ship-borne VTOL capability to its Panther UAV is also being considered.
The Panther is a 143-pound tilt-rotor UAV built by IAI.
"We see the upcoming JV as a great opportunity for both companies to expand their business," said IAI Executive Vice President Shaul Shahar. "We are looking forward to work with Hankuk Carbon -- a well-established Korean company decisive to enter into the aerospace business. With Hankuk Carbon's composite material production capability and with IAI's 40-years' of experience and know-how of UAV's, the joint venture has the potential to become a leading VTOL UAV company, and to provide the best solution to our customers in Korea and worldwide."
UAV News - Suppliers and Technology
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|