In 1998, the parent company was renamed "Diamond Aircraft GmbH" to better align with the naming convention of the North American operation. The company also purchased the Wiener Neustadt East Airport in that same year. The firm continued to work on multiple new aircraft types in order to further grow its product line; these were developed in line with a company-wide philosophy of seeking to offer aircraft that lacked any equivalent in terms of performance to any existing major product being produced from any of its competing manufacturers; this was a measure to consciously avoid instances of direct head-to-head competition.