Moog Completes Acquisition of SureFly eVTOL Aircraft from Workhorse

Moog announced on December 4 that it has completed its acquisition of Workhorse’s SureFly electric vertical takeoff and landing (eVTOL) program for $4 million. Workhorse and Moog also have established a 50:50 joint venture to complete development of the HorseFly unmanned cargo delivery drone.

Moog has yet to publish a timeline for completing development of SureFly. In October, the HorseFly began trial operations delivering medical supplies in San Diego, California, under a pilot program approved by the U.S. Federal Aviation Administration.

The hybrid SureFly is powered by a turbine generator with battery backup and has eight props driven by electric motors. It also has a whole-aircraft ballistic parachute for emergencies. In June 2018, Workhorse said it applied to the U.S. Federal Aviation Administration to begin the certification process for the vehicle, which made a first flight earlier that year.

The HorseFly multicopter has a maximum takeoff weight of just 30 pounds, a 10-pound payload capacity, and a top speed of 50 mph. 

Almost 45 percent of Moog's group revenues come from its aircraft controls business. In the U.S. company's latest year-end results, announced on September 28, 2019, the aircraft division accounted for $1.3 billion (9 percent up on 2018) out of total revenues of $2.9 billion (a 7 percent increase).