Air Industries Group Secures $11 Million Contract for Landing Gear Assemblies for the US Navy E-2D Advanced Hawkeye Aircraft
Air Industries Group (NYSE American: AIRI) has secured a follow-on contract worth over $11.0 million for landing gear assemblies for the U.S. Navy E-2D Advanced Hawkeye aircraft. The company has been a key supplier to the E-2 family of aircraft for decades.
Production is scheduled to begin in the second half of 2025, with delivery starting in the first quarter of 2026. The contract's scope expanded during negotiations due to increasing demand from both the U.S. Navy and foreign military customers. The E-2D Advanced Hawkeye plays a important role in managing airspace around Carrier Battle Groups, identifying threats, and coordinating aircraft movements.
Air Industries Group (NYSE American: AIRI) ha ottenuto un contratto aggiuntivo del valore di oltre $11,0 milioni per gli assemblaggi delle ruote di atterraggio per l'aeromobile E-2D Advanced Hawkeye della Marina Militare degli Stati Uniti. L'azienda è stata un fornitore chiave per la famiglia di aerei E-2 per decenni.
La produzione è programmata per iniziare nella seconda metà del 2025, con le consegne che inizieranno nel primo trimestre del 2026. L'ambito del contratto si è ampliato durante le trattative a causa della crescente domanda da parte della Marina Militare degli Stati Uniti e di clienti militari stranieri. L'E-2D Advanced Hawkeye svolge un ruolo importante nella gestione dello spazio aereo intorno ai Gruppi d'Attacco delle Portaerei, nell'identificazione delle minacce e nel coordinamento dei movimenti degli aerei.
Air Industries Group (NYSE American: AIRI) ha logrado un contrato complementario por un valor de más de $11,0 millones para los conjuntos de tren de aterrizaje del avión E-2D Advanced Hawkeye de la Marina de los EE.UU. La compañía ha sido un proveedor clave para la familia de aviones E-2 durante décadas.
La producción está programada para comenzar en la segunda mitad de 2025, con las entregas comenzando en el primer trimestre de 2026. El alcance del contrato se amplió durante las negociaciones debido a la creciente demanda tanto de la Marina de los EE.UU. como de clientes militares extranjeros. El E-2D Advanced Hawkeye juega un papel importante en la gestión del espacio aéreo alrededor de los Grupos de Batalla de Portaaviones, identificando amenazas y coordinando los movimientos de los aviones.
Air Industries Group (NYSE American: AIRI)는 미국 해군 E-2D 고급 호크아이 항공기용 랜딩 기어 조립품에 대해 1100만 달러 이상의 후속 계약을 체결했습니다. 이 회사는 수십 년 동안 E-2 계열 항공기의 주요 공급업체였습니다.
생산은 2025년 하반기에 시작될 예정이며, 2026년 1분기부터 배송이 시작될 것입니다. 이 계약의 범위는 미국 해군과 외국 군사 고객의 수요 증가로 인해 협상 중에 확대되었습니다. E-2D 고급 호크아이는 항공모함 전투 그룹 주변의 공역 관리를 수행하고, 위협을 식별하며, 항공기 이동을 조정하는 중요한 역할을 합니다.
Air Industries Group (NYSE American: AIRI) a obtenu un contrat supplémentaire d'une valeur de plus de 11,0 millions de dollars pour les ensembles de train d'atterrissage de l'avion E-2D Advanced Hawkeye de la Marine américaine. L'entreprise a été un fournisseur clé pour la famille d'avions E-2 pendant des décennies.
La production devrait commencer dans la seconde moitié de 2025, avec des livraisons prévues pour le premier trimestre de 2026. Le champ d'application du contrat a été élargi pendant les négociations en raison de la demande croissante de la part de la Marine américaine et de clients militaires étrangers. L'E-2D Advanced Hawkeye joue un rôle important dans la gestion de l'espace aérien autour des groupes de bataille de porte-avions, l'identification des menaces et la coordination des mouvements d'avions.
Air Industries Group (NYSE American: AIRI) hat einen Folgeauftrag im Wert von über 11,0 Millionen US-Dollar für die Fahrwerksmontagen des U.S. Navy E-2D Advanced Hawkeye Flugzeugs gesichert. Das Unternehmen ist seit Jahrzehnten ein wichtiger Lieferant für die E-2-Flugzeugfamilie.
Die Produktion soll in der zweiten Hälfte des Jahres 2025 beginnen, mit Lieferungen, die im ersten Quartal 2026 starten. Der Umfang des Vertrags wurde während der Verhandlungen aufgrund der steigenden Nachfrage sowohl von der U.S. Navy als auch von ausländischen militärischen Kunden erweitert. Der E-2D Advanced Hawkeye spielt eine wichtige Rolle im Management des Luftraums um Flugzeugträger-Kampfgruppen, bei der Identifizierung von Bedrohungen und der Koordination der Flugbewegungen.
- Secured new $11.0 million contract for landing gear assemblies
- Contract size increased during negotiations due to expanded customer base
- Continuation of long-term relationship with U.S. Navy E-2 program
- Production and revenue recognition delayed until second half of 2025
Insights
Production is scheduled to commence in the second half of 2025, upon the arrival of raw materials, with delivery of finished product set to begin in the first quarter of 2026.
Lou Melluzzo, Chief Executive Officer of Air Industries Group remarked: “The E-2D Advanced Hawkeye is a mission-critical platform for the US Navy, managing the airspace surrounding a Carrier Battle Group by identifying threats and coordinating aircraft movements. This contract grew in size during negotiations, reflecting the ongoing importance of the aircraft not only to the Navy but also to an expanding number of foreign military customers.”
Melluzzo continued: “The E-2D has been a cornerstone of Air Industries’ operations for many years. This follow-on contract reaffirms our customer’s trust in our capabilities, reliability, and performance. We are proud to continue supporting this vital program for both domestic and international defense needs.”
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 gears, 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.
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.
NON-GAAP FINANCIAL MEASURES
The Company uses Adjusted EBITDA, a Non-GAAP financial measure as defined by the SEC, as a supplemental profitability measure because management finds it useful to understand and evaluate results, excluding the impact of non-cash depreciation and amortization charges, stock based compensation expenses, and nonrecurring expenses and outlays, prior to consideration of the impact of other potential sources and uses of cash, such as working capital items. This calculation may differ in method of calculation from similarly titled measures used by other companies and may be different than the EBITDA calculation used by our lenders for purposes of determining compliance with our financial covenants. This Non-GAAP measure may have limitations when understanding performance as it excludes the financial impact of transactions such as interest expense necessary to conduct the Company’s business and therefore are not intended to be an alternative to financial measure prepared in accordance with GAAP. The Company has not quantitatively reconciled its forward looking Adjusted EBITDA target to the most directly comparable GAAP measure because items such as amortization of stock-based compensation and interest expense, which are specific items that impact these measures, have not yet occurred, are out of the Company’s control, or cannot be predicted. For example, quantification of stock-based compensation is not possible as it requires inputs such as future grants and stock prices which are not currently ascertainable.
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Air Industries Group
Chief Financial Officer
631-328-7039
Source: Air Industries Group
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