Textron Aviation CEO Scott Ernest said the company is spending more than $200 million annually on new product development including the new super-medium Longitude and just-announced, large cabin $35 million Hemisphere jets. He told a press conference in Las Vegas yesterday that the manufacturer now has the industry’s fastest product development cycle, noting that in the last three years Textron Aviation had designed and certified eight new aviation products.

“This is just the beginning. We are going to continue this aggressive investment activity throughout all our product lines,” he said. “You can expect this aggressive type of investment activity to continue.”

Ernest said the market is ripe for an aircraft in Hemisphere’s category, noting that there has not been a new aircraft in this product space in 20 years. While providing few details other than price point and a 4,500-nm range target, Ernest said the aircraft would have a flat floor and a cabin cross section of 102 inches.

First flight is expected for 2019, with entry into service to “follow shortly.” No major system suppliers have yet been named, including the identity of the Hemisphere’s powerplant provider.

Going forward Ernest said that the market can expect that, “We know how to design product and certify product that is easy to fly and is cost-effective to operate. That is what the team does. They take that [customer] feedback and generate that into product.”