Boeing BA has acquired Peters Software GmbH, a provider of European Aviation Safety Agency or EASA-based training content for early stage pilot training. The financial terms of the transaction were not disclosed.
With this acquisition, Cologne, Germany-based Peters Software and its team of 20 full-time employees joined Boeing. The takeover will enable Boeing Flight Services to provide training materials that are consistent with EASA standards. EASA is one of the world's leading aviation regulatory authorities.
Peters Software mainly provides curriculum and materials for commercial and private pilots operating in the fast growing markets that come under the regulatory scanner of the EASA. Peters Software utilizes high-quality software that boosts Boeing's customized pilot training content to meet the needs of its customers, particularly in Germany where it has a growing presence.
Per Boeing's recently released Pilot and Technician Outlook, airlines will require 558,000 new pilots over the next two decades to meet the demand of the growing global fleet. The commercial aerospace behemoth provides a comprehensive portfolio of pilot, maintenance and cabin safety training at 17 campuses on 6 continents.
Demand for Boeing’s commercial airplanes is on the rise due to a steady improvement in passenger and freight traffic on the back of a recovering global economy.
The company delivered 580 commercial jetliners so far this year, increasing 9.8% year over year and beating its archrival Airbus. Overall, Boeing anticipates the commercial fleet to double over the next two decades to 43,560 airplanes, fueled by sustained 4.9% annual growth in commercial passenger traffic.
Zacks Rank
Boeing currently has a Zacks Rank #3 (Hold). Some better-ranked players in the aerospace and defense industry include General Dynamics Corp. GD, Lockheed Martin Corp. LMT and Northrop Grumman Corp. NOC, all with a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment