Air Industries Group Receives Order of $2.4 Million for Landing Gear Used on the E-2C Hawkeye
Air Industries Group (NYSE: AIRI), a top manufacturer of precision assemblies for aerospace and defense, secured a $2.4 million order for spare landing gear assemblies for the E-2C Hawkeye. CEO Lou Melluzzo highlighted the company's capabilities in aftermarket support and maintaining strong customer relationships. The E-2C/D Hawkeye, a tactical aircraft used for battlefield management, is one of Air's key product lines. Deliveries for this order are slated between 2026 and 2027, continuing the momentum generated in 2023 into 2024.
- Received a $2.4 million order, boosting revenue.
- Demonstrates strong aftermarket support capabilities.
- Continues momentum from 2023 into 2024, indicating sustained business growth.
- E-2C/D Hawkeye is a critical product line, ensuring consistent demand.
- Delivery schedule from 2026 to 2027 ensures long-term revenue stream.
- Order delivery is scheduled far in the future (2026-2027), delaying revenue realization.
- Potential dependence on a number of product lines and contracts.
- Future market conditions and demands are uncertain, impacting long-term projections.
Insights
Air Industries Group's recent $2.4 million order for E-2C Hawkeye landing gear assemblies is a positive signal for the company's continuing role in the aerospace and defense sector. This order highlights the reliability and demand for Air Industries' precision components in critical military applications.
From an industry perspective, the E-2C Hawkeye is vital for battlefield management and command operations, indicating that Air Industries' products are integral to essential defense functions. Supporting such a high-profile platform cements the company's status as a trusted supplier.
It's important to note that the deliveries are scheduled for 2026-2027, suggesting stable revenue streams in the future. However, this also means the immediate financial impact might be limited, with more significant benefits expected in the long term.
While a $2.4 million order might seem relatively minor in the grand scheme of Air Industries' overall operations, it reflects ongoing business momentum. CEO Lou Melluzzo's comments about the momentum from 2023 continuing into 2024 can reassure investors of consistent demand and customer trust.
For retail investors, this order shows the company's ability to secure new contracts, which is critical for revenue stability and growth. Investors should watch for quarterly reports to see how such orders convert to actual revenue and profit. This order aligns with the company's strategy to diversify its product lines within mission-critical operations, providing a steady flow of capital in the coming years.
Mr. Lou Melluzzo, CEO of Air Industries, commented: “This award underscores the significance of our capabilities in providing aftermarket support, and fostering relationships with our valued customers. The considerable momentum that we generated in 2023 is continuing in 2024, and we remain encouraged by the high demand for our products and services. The E-2C/D Hawkeye program represents just one among Air’s product lines deployed in mission-critical operations.”
Deliveries for these landing gear are expected to occur in 2026 through 2027.
Air Industries supports the E-2C/D Hawkeye program by providing the main and nose landing gear, as well as the arresting gear. The E-2C/D Hawkeye is a twin-engine, tactical aircraft. Often referred to as the “digital quarterback,” it conducts battlefield management and command and control operations for aircraft carrier strike groups.
ABOUT AIR INDUSTRIES GROUP
Air Industries Group is a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors. Its products include landing gear, flight controls, engine mounts and components for aircraft jet engines, ground turbines and other complex machines. Whether it is a small individual component or complete assembly, its high quality and extremely reliable products are used in mission critical operations that are essential for the safety of military personnel and civilians.
Additional information about the Company can be found in its filings with the SEC and its website at www.airindustriesgroup.com.
Forward Looking Statements
Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, future revenues, earnings and Adjusted EBITDA, the ability to realize firm backlog and projected backlog, cost cutting measures, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the timing of projects due to variability in size, scope and duration, the inherent discrepancy in actual results from estimates, projections and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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Air Industries Group
Investor Relations
631.328.7079
ir@airindustriesgroup.com
Source: Air Industries Group
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