Astronics Corporation Selected by Bell to Develop Electrical Power and Distribution System for U.S. Army Future Long-Range Assault Aircraft

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Astronics Corporation under contract with Bell for the U.S. Army Future Long Range Assault Aircraft program

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• Astronics Corporation has been awarded a contract with Bell to support the development of the V-280 Valor for the U.S. Army Future Long Range Assault Aircraft program. This follows the Army's selection of the V-280 as the winner of its FLRAA competition and the planned replacement for the UH-60 Blackhawk.

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EAST AURORA, N.Y.--(BUSINESS WIRE)-- Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced today that it is now under contract with Bell to support development of the V-280 Valor for the U.S. Army Future Long Range Assault Aircraft (FLRAA) program. A member of Team Valor, Astronics has been working with Bell for several years by supplying the electrical power and distribution system for the demonstrator aircraft. The current agreement will further mature the system for qualification and certification. This award follows the Army’s selection of the V-280 as the winner of its FLRAA competition and the planned replacement for the UH-60 Blackhawk.

Peter J. Gundermann, Chairman, President, and CEO of Astronics, said, “We have enjoyed a close working relationship with Bell for many years, providing innovative solutions for their aircraft. Our CorePower® technology is designed into the Bell 505, Bell 525 aircraft, and V-280 Valor. We congratulate Bell on their selection for this program and are honored to work with them to help deliver the V-280 weapon system to the U.S. Army.”

The full development program contract is anticipated to include finalizing the power system design and development, system integration services, and preliminary flight hardware deliveries. The V-280 aircraft will benefit from Astronics CorePower® family of solutions, employing solid state electronic circuit breaker and power conversion technology to deliver clean, intelligent, and efficient power that improves aircraft performance, supports the U.S. Army Modular Open Systems Architecture (MOSA) initiatives, and reduces overall system weight.

About Astronics Corporation

Astronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s strategy is to increase its value by developing technologies and capabilities that provide innovative solutions to its targeted markets.

For more information on Astronics and its solutions, visit Astronics.com.

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words “expect,” “anticipate,” “plan,” “may,” “will,” “estimate” or other similar expressions and include all statements with regard to continued development of the FLRAA program and any additional contract or details related to its development and production, rates of growth and the expectations of demand by customers and markets. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially from what may be stated here include the continued global impact of COVID-19 and related governmental and other actions taken in response, trend in growth with passenger power and connectivity on airplanes, the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes and delivery schedules, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, the need for new and advanced test and simulation equipment, customer preferences and relationships, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230822176805/en/

Company:

David C. Burney

Executive Vice President and CFO

invest@astronics.com

+1.716.805.1599



Investor:

Kei Advisors LLC

Deborah K. Pawlowski

Investor Relations

dpawlowski@keiadvisors.com

+1.716.843.3908

Source: Astronics Corporation