In June 2019, the Boeing Company and Kitty Hawk Corporation entered into a strategic partnership to work on futuristic urban air mobility.
Sanyo Chemical Industries, Ltd. (Thailand) announced the expansion of its production facility for permanent antistatic agents, which is scheduled to operate from April 2021, with a view to meeting the rising demand from Thailand.
Power generation using wind energy has been on the rise for the past few years, particularly in offshore locations of North America, Europe, and Asia Pacific. The rise of offshore wind energy generation is attributed to the better yields due to the high offshore wind speed. A turbine in 15-mph wind speed can generate double as much energy as a turbine in 12-mph wind speed can. Offshore wind speeds are steadier than on land wind speeds because of the large open spaces at sea.
Maruti Suzuki – an Indian car manufacturer giant, recently announced to phase out production of diesel cars by next year i.e. April 2020. This announcement from Maruti Suzuki is in sync with the implementation of BS6 norms in India and mirrors emerging global trends. The company’s decision is anticipated to be majorly driven by high cost of upgrading diesel engines to BS6 norms. However, to fill this void, the company aims to shift its focus towards hybrid technology driven vehicles and compressed natural gas (CNG) vehicles.
Mile High Labs acquired a 400,000 square foot pharmaceutical manufacturing facility of Sandoz Inc., a division of Novartis (Switzerland), in Broomfield, Colorado, with a view to meet the rising global consumer demand for CBD (Cannabidiol) in the form of tinctures, lotions, and gummies.
As per MarketsandMarkets’ analysis, based on its existing studies available on MarketsandMarkets™ Knowledge Store, Internet of Things (IoT) sensors, Artificial Intelligence (AI), and predictive maintenance are the top technologies (refer to Figure 1) that have the potential to change the future revenue mix of Baker Hughes (BHGE), a GE company. It is also evident from the recent joint venture agreement between BHGE and C3.ai, a California-based AI company.
On June 5, 2019, Amazon showcased the latest version of its Prime Air delivery drone—that is set to transform last mile package delivery—at the Mars Conference in Las Vegas, US. The Prime Air delivery drone is a hybrid aircraft equipped with optical, thermal, and ultrasonic sensors. Moreover, the drone is also capable of vertical takeoff and landing along with continuous forward flight.
Mercedes-Benz Cars, in association with telecommunications company Telefónica Deutschland and network supplier Ericsson, is setting up the world’s first 5G network for automobile production in its Factory 56 in Sindelfingen, Germany. This is the first time the 5G mobile communications standard is being implemented into the running production. The 5G technology can rapidly process huge data sets. The 5G standard allows fast data transmission rates, with extremely low latency and a high level of reliability. Mercedes-Benz Cars is planning to implement such innovation in its other plants as well.
Tyson Foods is headquartered in Arkansas, US, and is engaged in offering chicken, beef, and pork, as well as prepared foods. The company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells, and State Fair brands. It has its presence in Central America, China, Canada, Japan, the Middle East, the European Union, South Korea, and Taiwan. On 13th June 2019, the company announced the launch of its first plant-based blended products under its new brand, Raised & Rooted, as part of its efforts to expand its protein offerings. Earlier, in April 2019, Tyson Foods ended its investment with Beyond Meat, which is engaged in manufacturing plant-based meat, to start its own brand of plant-based meat products. With the rising trend of healthy lifestyles, meat producers need to shift their offerings to products that have improved nutritional profiles. The belief among consumers that plant-based proteins are better for heart health, easier to digest, and better suited to aid weight loss than animal protein, will disrupt the animal meat market in the future. Since Tyson Foods has a major stake in traditional meat such as chicken, pork, and beef, it is more of a precautionary move rather than a strategic one to enter into the booming market of plant-based meat.