Air Industries Group Secures Additional Contract Worth $ 2.6 Million for Aftermarket Landing Gear Assemblies for the US Navy E-2D Advanced Hawkeye Aircraft
Air Industries Group (NYSE American: AIRI) has secured a new $2.6 million contract for main landing gear assemblies for the US Navy E-2D Advanced Hawkeye aircraft. This contract focuses on aftermarket maintenance, repair, and overhaul of existing aircraft, following a previous $11 million award announced on December 9th for new aircraft production.
The E-2D Advanced Hawkeye is important for the US Navy's operations, responsible for threat identification, aircraft movement coordination, and airspace management around Aircraft Carrier Battle Groups. The aircraft is expected to remain in service until the 2040s.
CEO Lou Melluzzo highlighted that the company's 2023 business development initiatives are showing results, with bookings exceeding billings in calendar 2024. In December 2024 alone, AIRI announced three contracts totaling over $45 million.
Air Industries Group (NYSE American: AIRI) ha ottenuto un nuovo contratto di 2,6 milioni di dollari per l'assemblaggio dei carrelli di atterraggio principali per gli aerei E-2D Advanced Hawkeye della Marina degli Stati Uniti. Questo contratto si concentra sulla manutenzione, riparazione e revisione degli aerei esistenti, in seguito a un precedente contratto di 11 milioni di dollari annunciato il 9 dicembre per la produzione di nuovi aerei.
L'E-2D Advanced Hawkeye è fondamentale per le operazioni della Marina degli Stati Uniti, responsabile dell'identificazione delle minacce, del coordinamento dei movimenti degli aerei e della gestione dello spazio aereo intorno ai Gruppi di Battaglia delle Portaerei. Si prevede che l'aereo rimanga in servizio fino agli anni '40.
Il CEO Lou Melluzzo ha sottolineato che le iniziative di sviluppo aziendale del 2023 stanno mostrando risultati, con ordini che superano le fatturazioni nel calendario del 2024. Solo a dicembre 2024, AIRI ha annunciato tre contratti per un totale di oltre 45 milioni di dollari.
Air Industries Group (NYSE American: AIRI) ha conseguido un nuevo contrato de 2,6 millones de dólares para los ensamblajes del tren de aterrizaje principal para los aviones E-2D Advanced Hawkeye de la Marina de los Estados Unidos. Este contrato se centra en el mantenimiento, la reparación y la revisión de los aviones existentes, tras un contrato previo de 11 millones de dólares anunciado el 9 de diciembre para la producción de nuevos aviones.
El E-2D Advanced Hawkeye es importante para las operaciones de la Marina de los Estados Unidos, responsable de la identificación de amenazas, la coordinación del movimiento de aeronaves y la gestión del espacio aéreo alrededor de los Grupos de Batalla de Portaaviones. Se espera que el avión permanezca en servicio hasta la década de 2040.
El CEO Lou Melluzzo destacó que las iniciativas de desarrollo empresarial de la compañía en 2023 están dando resultados, con reservas que superan las facturaciones en el calendario de 2024. Solo en diciembre de 2024, AIRI anunció tres contratos por un total de más de 45 millones de dólares.
에어 산업 그룹 (NYSE American: AIRI)는 미국 해군 E-2D 하울케이 기체의 주착륙 장치 조립을 위한 260만 달러의 새로운 계약을 체결했습니다. 이 계약은 기존 항공기의 애프터마켓 유지보수, 수리 및 개조에 중점을 두며, 12월 9일에 발표된 1천1백만 달러의 새로운 항공기 생산 계약에 이어집니다.
E-2D 하울케이 기체는 미국 해군의 작전에 중요한 역할을 하며, 위협 식별, 항공기 이동 조정, 항공모함 전투 그룹 주변의 공역 관리를 담당합니다. 이 항공기는 2040년대까지 서비스 될 것으로 예상됩니다.
CEO 루 멜루조는 2023년 회사의 사업 개발 이니셔티브가 성과를 내고 있으며, 2024년 달력 시점에서 예약이 청구를 초과하고 있다고 강조했습니다. 2024년 12월 한 달에만 AIRI는 총 4500만 달러 이상의 세 개 계약을 발표했습니다.
Air Industries Group (NYSE American: AIRI) a obtenu un nouveau contrat de 2,6 millions de dollars pour les ensembles de train d'atterrissage principaux pour les avions E-2D Advanced Hawkeye de la Marine américaine. Ce contrat porte sur la maintenance, la réparation et la révision des avions existants, suite à un précédent contrat de 11 millions de dollars annoncé le 9 décembre pour la production de nouveaux avions.
L'E-2D Advanced Hawkeye est important pour les opérations de la Marine américaine, responsable de l'identification des menaces, de la coordination des mouvements d'aviation et de la gestion de l'espace aérien autour des groupes de bataille de porte-avions. L'avion devrait rester en service jusqu'aux années 2040.
Le PDG Lou Melluzzo a souligné que les initiatives de développement commercial de l'entreprise en 2023 montrent des résultats, avec des réservations dépassant les factures pour l'année 2024. Rien qu'en décembre 2024, AIRI a annoncé trois contrats totalisant plus de 45 millions de dollars.
Air Industries Group (NYSE American: AIRI) hat einen neuen Vertrag über 2,6 Millionen Dollar für die Hauptfahrwerksmontagen für die E-2D Advanced Hawkeye der US Navy abgeschlossen. Dieser Vertrag konzentriert sich auf die Wartung, Reparatur und Überholung bestehender Flugzeuge, nachdem ein vorheriger Vertrag über 11 Millionen Dollar am 9. Dezember für die Produktion neuer Flugzeuge angekündigt wurde.
Die E-2D Advanced Hawkeye ist wichtig für die Operationen der US Navy, verantwortlich für die Bedrohungserkennung, die Koordination der Flugzeugbewegungen und das Management des Luftraums rund um Flugzeugträgerkampfgruppen. Es wird erwartet, dass das Flugzeug bis in die 2040er Jahre im Einsatz bleibt.
CEO Lou Melluzzo hob hervor, dass die Unternehmensentwicklungsinitiativen des Jahres 2023 Ergebnisse zeigen, da die Buchungen die Abrechnungen im Kalenderjahr 2024 übersteigen. Allein im Dezember 2024 kündigte AIRI drei Verträge mit einem Gesamtwert von über 45 Millionen Dollar an.
- Secured new $2.6 million contract for E-2D landing gear assemblies
- Bookings exceeding billings in calendar 2024
- Announced over $45 million in new contracts in December 2024
- Long-term program visibility through 2040s
- None.
Insights
The
The aftermarket nature of this contract is particularly valuable as it provides recurring revenue streams through maintenance, repair and overhaul (MRO) services for the existing fleet. With the E-2D platform expected to remain operational until the 2040s, this positions AIRI for long-term stable revenue. The company's dual presence in both new production and aftermarket segments strengthens their market position and reduces dependency on new aircraft orders.
For a company with a market cap of
This contract demonstrates AIRI's strong positioning in the critical E-2D Advanced Hawkeye supply chain. Landing gear assemblies are high-value, precision components that require specialized manufacturing capabilities and strict quality control. The ability to secure contracts for both new production and aftermarket services indicates the company's technical competence and reliability in meeting military specifications.
The extension into aftermarket services for international customers represents a strategic diversification. MRO services typically carry higher margins than new production and the long service life of military aircraft creates a sustained revenue stream. The E-2D's projected service life through the 2040s provides nearly two decades of potential aftermarket opportunities.
On December 9th we announced an
Lou Melluzzo, Chief Executive Officer of Air Industries Group commented: “The E-2D aircraft continues to be a cornerstone for Air Industries. Production of new E-2D aircraft continues, and there are numerous aircraft in the US Navy fleet. The aircraft is expected to remain in service into the 2040’s. We have supported this program for decades, and we look forward to supporting it for many years to come. This new award supports our aftermarket initiative for this and other programs, and it is consistent with our plan to broaden our support of international customers.
The business development initiatives we began in 2023 are bearing fruit. For all of calendar 2024 our bookings of new business have been strongly more than our billings. In December 2024 alone, we have announced three new contracts worth over
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
FAQ
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