Daily Newsletter

21 November 2023

Daily Newsletter

21 November 2023

Lockheed Martin’s Derco signs pact with Aerostar to enhance Romanian F-16s

Derco and Lockheed Martin are committed to boosting Romania's aerospace capabilities.

Harry McNeil November 20 2023

In a move towards bolstering the operational efficiency of Romania's F-16 fleet, Derco, a Lockheed Martin company, has joined forces with Aerostar to streamline maintenance processes. 

The agreement, focused on repairing landing gear, wheels and brakes, reduces lead times and enhances Romania's position in the aerospace and defence industry.

Romania's top defence priorities are building up an inventory of F-16 fighter aircraft, modernising the country's corvettes and upgrading the military's infrastructure, according to GlobalData's Romania Defence Market 2023–2028 report.

Derco's president and general manager, Todd Morar, said: "We are proud to be the latest Lockheed Martin business to partner with Romania through this new agreement with Aerostar. Derco's technology solution that we are sharing with Aerostar will ensure the readiness, effectiveness and safety of Romanian military personnel operating F-16 fighter jets."

According to GlobalData's intelligence on the global military fixed-wing aircraft market 2023–2033, Lockheed Martin is set to account for the highest revenue share, $62.8bn (€57.42bn), in Europe over the forecast period with a 23.4% share of the European market.

Aerostar's president and CEO, Grigore Filip, highlighted the company's commitment. "Aerostar will provide maintenance and repair activities required for new aircraft fleets in Romania and the region," he said. "We want to strengthen Romania's position in this market and rely on our technical capabilities and knowledge."

This agreement follows the inauguration of the first European F-16 training centre at Fetești Air Base. Lockheed Martin supports Romania's Ministry of Economy in strengthening the aerospace and defence industry. 

The Netherlands has recently stationed five F-16 fighter jets at Romania's European F-16 training centre. These jets will train Ukrainian and Romanian pilots for missions.

Hypersonics see continued development across 2023

In 2022, flexible packaging was the most used pack material, followed by rigid plastics. Dairy & soy food was the leading sector, while prepared meals sector is forecast to register the fastest growth during 2022–27, per GlobalData. The demand for eco-friendly packaging is on the rise, stimulated by consumers’ increasing focus on sustainability. Personalized packaging is becoming popular as consumers appreciate products tailored to their needs or preferences. In the food packaging industry, personalization can be done to amplify brand appeal in form of personalized bags, stickers, or boxes.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close