As announced on August 4, general aviation avionics OEM Aspen Avionics has been acquired by The AIRO Group. The new owner has a fairly deep bench in aerospace, holding a portfolio of companies in a wide range of aerospace segments, including commercial and military, and piloted and remotely-piloted vehicles.
Aspen Avionics Acquired By The AIRO Group
Key Takeaways:
- Aspen Avionics, a general aviation avionics OEM, has been acquired by The AIRO Group, which holds a diverse portfolio of aerospace companies.
- The acquisition aims to provide Aspen with the necessary investment for continued growth, leveraging its regulatory and technological expertise, potentially expanding into high-growth sectors like UAVs and urban air mobility.
- Aspen experienced a downturn in business during April and May due to the COVID-19 pandemic but is now seeing signs of recovery with increasing interest in panel upgrades and GA pilot activity.
- Aspen proactively addressed an in-flight reset issue concerning certain Evolution MAX series displays, issuing a service bulletin and software fix before the FAA released an Airworthiness Directive (AD) on the matter.
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