Curtiss-Wright Awarded $34 Million Contract to Provide Airborne Data Recorder Technology to the U.S. Navy

Rhea-AI Summary

Curtiss-Wright Corporation awarded $34 million contract by Naval Surface Warfare Center for airborne data recorder technology.

Positive

• Curtiss-Wright awarded $34 million contract by Naval Surface Warfare Center.
• Contract is for five years and is firm-fixed-price indefinite delivery, indefinite quantity (IDIQ).
• Curtiss-Wright will provide Modular Open Systems Approach (MOSA) based airborne data recorder technology for use on U.S. and Australian manned and unmanned maritime aircraft.

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• None.

DAVIDSON, N.C.--(BUSINESS WIRE)-- Curtiss-Wright Corporation (NYSE: CW) today announced that it has been awarded a five-year, $34 million firm-fixed-price indefinite delivery, indefinite quantity (IDIQ) contract by the Naval Surface Warfare Center (NSWC) to provide Modular Open Systems Approach (MOSA) based airborne data recorder technology for use on U.S. and Australian manned and unmanned maritime aircraft.

Under the agreement, Curtiss-Wright will provide and service Keyed Broad Area Maritime Surveillance Airborne Recorder (K-BAR) Network Attached Storage (NAS) solutions including chassis, docking stations, removable storage modules and lab cable sets.

“We are pleased to have been selected by the Naval Surface Warfare Center to provide our rugged airborne network attached storage technology and support services for Naval manned and unmanned aircraft programs,” said Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corporation. “This award reflects our commitment to provide the most advanced and reliable open architecture data storage systems in support of our warfighters.”

As a leading supplier of MOSA based encrypted, solid-state network-attached storage subsystems, Curtiss-Wright is providing the NSWC with commercial-off-the shelf (COTS) open architecture K-BAR NAS equipment supporting MQ-4C Triton and future PMA-290 aircraft. The sole source contract provides training and engineering services support to the K-BAR equipment.

Curtiss-Wright is performing the work within its Defense Solutions division in the Defense Electronics segment. For more information about Curtiss-Wright’s Defense Solutions storage and recording products, please visit www.curtisswrightds.com/products/storage-recorders/network-attached-storage.

About Curtiss-Wright Corporation

Curtiss-Wright Corporation (NYSE:CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Power, Process and Industrial markets. We leverage a workforce of approximately 8,400 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. For more information, visit www.curtisswright.com.

This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including statements relating to Curtiss-Wright’s expectations of a continued relationship with U.S. Navy, the continued success of this networked storage technology, the performance of its products on these manned and unmanned vehicle platforms, the long term value of this contract, the continued funding for this program by the U.S. Government, and the future opportunities associated with this technology, are not considered historical facts and are considered forward-looking statements under the federal securities laws. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in US and Foreign government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, marine, electronics and industrial companies. Please refer to the Company's current SEC filings under the Securities Exchange Act of 1934, as amended, for further information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231005098826/en/

Jim Ryan

(704) 869-4621

jim.ryan@curtisswright.com

Source: Curtiss-Wright Corporation

FAQ

What is the contract amount awarded to Curtiss-Wright Corporation?

The contract awarded to Curtiss-Wright Corporation is for $34 million.

What is the duration of the contract?

The contract is for a period of five years.

What type of technology will Curtiss-Wright provide under the contract?

Curtiss-Wright will provide Modular Open Systems Approach (MOSA) based airborne data recorder technology.

Who awarded the contract to Curtiss-Wright Corporation?

The contract was awarded by the Naval Surface Warfare Center (NSWC).

Which aircraft will utilize the technology provided by Curtiss-Wright?

The technology provided by Curtiss-Wright will be used on U.S. and Australian manned and unmanned maritime aircraft.