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Bombardier to Strengthen Presence in Military Aircraft Market

Industry: Aerospace
Current: Company Performance

The total number of aircraft delivered by Bombardier Inc. decreased significantly in the second half and second quarter of 2022 in comparison to the first half and first quarter of 2021, according to Bombardier Inc. investor relations
The revenue and net profit increased in the second quarter (June 2022) in comparison to that in the March 2022 quarter, according to GlobalData
The Montreal-based company realizes most of its revenue from the sale of opulent aircraft to wealthy individuals and charter companies

As Western countries plan to increase their defense spending in response to the most acute global security crisis in decades, Bombardier Inc. intends to strengthen its presence in the military market.

The Montreal-based company realizes most of its revenue from the sale of opulent aircraft to wealthy individuals and charter companies. However, it also operates a little, but dependable, business in the sale of specialist aircraft, which are frequently used by governments for intelligence, reconnaissance, and other purposes. According to Bombardier Inc, the total number of aircraft delivered by Bombardier Inc. increased significantly in the second quarter of 2022 compared to that in the first quarter of 2021.

At the International Aerospace Innovation Forum, organized by the strategic think tank, Aéro Montréal, Bombardier CEO Éric Martel stated: “We’re going to be developing our defense business fairly significantly. Our product is currently receiving a lot of interest.”

His remarks draw attention to the business potential of Bombardier and other Canadian aircraft firms, an opportunity that is expanding as national defense spending increases with increasing geopolitical unpredictability. The revenue and net profit increased in the second quarter ending June 2022 over that in the previous quarter ending March 2022, according to GlobalData.

Because of the mounting tension between the US and China over Taiwan and the worry that Russia’s invasion of Ukraine caused in Europe, defense expenditure is likely to increase. Germany alone announced that it will spend €100 billion ($130.27 billion) on rearmament, including the purchase of new fighter aircraft.

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