China is expected to become the world's number two plane market as it will require some 5,000 new commercial airplanes valued at $600 billion over the 20 years, Boeing projected on Wednesday.
Lockheed Martin on Friday announced that around 1,500 employees across its Aeronautics business area will be let go as part of the company's "affordability" plan.
A large tanker aircraft crashed at Naval Air Station Point Mugu in California late Wednesday afternoon, officials said, but all crew members survived the accident.