CAE Inc. CAE announced that it is going to invest $794.1M (C$1 billion) in the next five years for further development of aviation technologies. The investment will be directed toward Project Resilience, a transformation project to develop technologies of tomorrow, including digitally immersive solutions using data ecosystems and artificial intelligence in civil aviation, defense & security as well as healthcare.The five-year Research and Development program will allow the company in creating digitally immersive solutions across many sectors and markets to make the world a safer place. The project will also allow it to expand into exciting new markets such as advanced air mobility, green light aircraft technologies, and next-generation healthcare equipment and services. The governments of Canada and Quebec — which are assisting the company in opening up new markets — will be partnering with CAE in the project.Possibility in Aviation TechnologyAviation technologies are changing each day. Courtesy of ongoing research and development initiatives in this space, people are able to fly for longer distances in fuel-efficient and larger planes. There are endless possibilities of innovation in the aviation space and implementation of new technologies will increase accessibility between countries across the globe.The COVID-19 outbreak in 2020 pointed out the importance of digitization and necessity of providing contactless support to customers. The aviation technology space has ample opportunity to utilize Artificial Intelligence, and provide better support to workers as well as to passengers.CAE, through this project, will continue to develop airworthiness test programs and invest in the development of electric aircraft technologies and solutions, including retrofitting its large fleet of light trainer aircraft to reduce carbon footprint.Price PerformanceShares of the company have outperformed the industry’s rally in the past year.Image Source: Zacks Investment ResearchZacks Rank & Key PicksCAE currently has a Zacks Rank#3 (Hold). Some better-ranked stocks in the same sector include Lockheed Martin Corporation LMT, Northrop Grumman Corporation NOC and Textron Inc. TXT, each having a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Long-term (three to five years) earnings growth of Lockheed, Northrop Grumman and Textron is currently pegged at 4.6%, 8.7%, and 24.9%, respectively.The Zacks Consensus Estimate for 2021 earnings of Lockheed, Northrop Grumman and Textron has moved up 1.6%, 3.8% and 12.5%, respectively, in the past 90 days. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report CAE Inc (CAE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research