Pratt & Whitney Canada Pledges $1B in Near-term R&D

Pratt & Whitney Canada announced yesterday that it plans to invest more than $1 billion in research and development over the next 4.5 years to develop the “next generation of high-performance aircraft engines.” The investment includes a $300 million repayable contribution from the Canadian government. P&WC said it is developing advanced propulsion technologies to cut fuel consumption, weight, emissions and noise. The company is also investing $275 million over five years in technologies and upgrades for its facilities.