Horizon Aircraft Partners with North Aircraft Industries to Manufacture the Wings for the Cavorite X7
Horizon Aircraft (NASDAQ:HOVR) announced a partnership with North Aircraft Industries to manufacture and structurally test the custom-engineered wings for Horizon's full-scale VTOL aircraft, the Cavorite X7.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Horizon Aircraft (NASDAQ:HOVR) announced a partnership with North Aircraft Industries to manufacture and structurally test the custom-engineered wings for Horizon's full-scale VTOL aircraft, the Cavorite X7. North will build lightweight composite wing structures and perform in-house structural testing upon manufacturing completion.
The Cavorite X7 wing design houses 12 embedded electric lift fans behind opening covers for vertical takeoff and landing, then closes covers for efficient fixed-wing forward flight. Horizon says North's work supports completion of the X7 and preparation for flight testing in 2027.
Positive
- Partnership secured with North Aircraft Industries to manufacture Cavorite X7 wings
- In-house structural testing by North Aircraft Industries upon manufacturing completion
- Wing design integrates 12 embedded electric lift fans enabling VTOL and efficient forward flight
- Collaboration targets preparation for 2027 flight testing
Negative
- None.
Details
News Market Reaction – HOVR
On Feb 10, the day this news came out, HOVR closed 2.12% below the previous close.
Data tracked by StockTitan Argus for the Feb 10 session.
Key Figures
- Share price
- $1.89
- Last close before partnership announcement
- Daily change
- 2.16%
- 24h price change prior to news
- 52-week range
- $0.35 – $4.18
- 52-week low and high
- Volume
- 527,955 vs 1,272,656
- Today vs 20-day average volume
- Market cap
- $81,867,586
- Equity value pre-announcement
- Lift fans
- 12 embedded electric lift fans
- Cavorite X7 wing architecture
- Testing target year
- 2027
- Cavorite X7 wing and aircraft testing preparation
Previous Partnership Reports
-
RAMPF to manufacture lightweight, high-strength fuselage for Cavorite X7.
-
Motion Applied to develop custom inverter to drive vertical lift motors.
-
Partnership with Andrea Mocellin to refine exterior and interior design.
-
MT-Propeller to supply low-noise composite propellers for hybrid eVTOL.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
vtol technical
vertical take-off and landing technical
composite manufacturing technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
North Aircraft Industries selected for proven complex aerospace composite manufacturing, engineering, and testing capabilities
TORONTO, ONTARIO / ACCESS Newswire / February 10, 2026 / New Horizon Aircraft Ltd. ("Horizon Aircraft" or the "Company") (NASDAQ:HOVR) announces a partnership with North Aircraft Industries to manufacture and test the custom-engineered wings for the Company's full-scale VTOL (Vertical Take-Off and Landing) aircraft, the Cavorite X7.
North Aircraft Industries is globally recognized for its expertise in complex aerospace composite engineering, manufacturing, and testing. Its highly skilled engineering and production teams and industry-leading technologies deliver lightweight, high-strength aircraft components that enable faster, longer-range, and more efficient flight. Further differentiated for its in-house structural testing capabilities, North Aircraft Industries will conduct wing structural testing upon manufacturing completion.
"The Cavorite X7's design represents a genuinely new approach to VTOL aircraft performance and operational flexibility," stated Joost List, CEO of North Aircraft Industries. "It aligns perfectly with our strengths in advanced composite structures and integrated aerospace component development. We consider it a privilege to collaborate on a critical primary structure such as the wing, contributing our engineering, manufacturing, and testing expertise to help bring this groundbreaking aircraft closer to flight."
The Cavorite X7's novel wing architecture enables vertical takeoff and landing by opening wing covers to reveal 12 embedded electric lift fans. In forward flight, the covers close seamlessly, transforming the aircraft into an efficient, fixed-wing aircraft.
Horizon Aircraft Co-Founder and CEO Brandon Robinson stated, "Building our proprietary wing demands an exceptional composite manufacturing team with deep experience in complex structures. North Aircraft Industries has the experience, skill, and agility to keep our production of the Cavorite X7 on track. We are proud to partner once again with a leading Canadian aerospace company that will play a critical role in completing the X7 and prepare it for testing in 2027."
For more information about Horizon Aircraft, please see the Company's website or watch its innovative technology in action on the Company's YouTube channel.
About Horizon Aircraft
Horizon Aircraft (NASDAQ:HOVR) is an advanced aerospace engineering company that is developing one of the world's first hybrid-electric VTOL (Vertical Take-Off and Landing) aircraft designed to fly most of its mission in traditional wing-borne flight, offering industry-leading speed, range, and operational utility. Horizon Aircraft's unique designs put the mission first and prioritize safety and performance. Upon successful completion of testing and certification of its full-scale aircraft, Horizon Aircraft intends to scale unit production to meet expected demand from regional operators, emergency service providers, and military customers.
For further information, visit:
Website www.horizonaircraft.com
LinkedIn https://www.linkedin.com/company/horizon-aircraft-inc
About North Aircraft Industries
North Aircraft Industries is a Canadian aerospace manufacturer specializing in the development and production of composite primary structures and complete components for aircraft. Established in 2018 and headquartered in London, Ontario, the company delivers lightweight, strong, and cost-effective solutions that support customers in flying more efficiently, longer, and farther. North Aircraft's capabilities span design, engineering, prototyping, manufacturing, assembly, systems integration, structural and systems testing, and finishing for complex aerospace projects.
North Aircraft's in-house expertise covers advanced composite manufacturing, tooling and fixturing, structural load testing, and detailed assembly of airframe structures such as wings, fuselages, and empennages, along with system integration including flight controls, landing gear and electrical harnesses. With state-of-the-art equipment - from automated laminating machines to precision laser tracking and test systems - North Aircraft Industries is positioned to support programs from initial prototype through industrialization and series production.
North Aircraft emphasizes close collaboration with customers throughout the engineering and manufacturing lifecycle, ensuring high standards and traceable quality in all delivered aerospace structures and systems.
For further information, contact:
Investors:
Kathryn Burns
ir@horizonaircraft.com
Media:
Edwina Frawley-Gangahar
EFG Media Relations
+44 7580 174672
edwina@efgmediarelations.com
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "aim," "future," "opportunity," "plan," "may," "should," "will," "would," "target," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements herein include, but are not limited to, statements relating to the targeted readiness of the full-scale hybrid Cavorite X7 eVTOL prototype for initial testing, development priorities and technical milestones; funding and liquidity sufficiency and runway; certification and testing plans; and potential production, partnership, supply chain and market opportunities.
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Horizon Aircraft competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon Aircraft will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Horizon Aircraft's industry and market size; (v) financial condition and performance of Horizon Aircraft, including the condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon Aircraft; (vi) Horizon Aircraft's ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (vii) successful completion of testing and certification of Horizon Aircraft's Cavorite X7 eVTOL; (viii) the targeted future production of Horizon Aircraft's Cavorite X7 aircraft; and (ix) other factors detailed by us in the Company's public filings with the Securities and Exchange Commission ("SEC") and under the Company's profile on sedarplus.ca, including the disclosures under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2025, filed with the SEC and filed under the Company's profile on sedarplus.ca on August 22, 2025. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking statements, and while the Company may elect to update these forward-looking statements at some point in the future, it assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by applicable law. Horizon Aircraft does not give any assurance that Horizon Aircraft will achieve its expectations.
SOURCE: Horizon Aircraft
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.