IS&S Receives Multi-Million Dollar Contract from Major Aerospace Company for Military Products

Rhea-AI Summary

Innovative Solutions & Support (NASDAQ: ISSC) has secured a multi-million-dollar contract to supply its 19" Multifunction Display (MFD) with an Integrated Mission Computer for a Commercial Derivative platform used by several Foreign Militaries. The versatile display features a multi-touchscreen interface and can perform various functions, including data integration, primary flight/navigation information display, and mission planning. IS&S has integrated the Display Unit and Mission Computer into a single unit, simplifying installation.

CEO Shahram Askarpour emphasized the company's commitment to developing advanced products that enhance mission capability and performance. This contract builds on existing OEM programs with Pilatus Aircraft, Textron Aviation, and The Boeing Company for various aircraft models.

Positive

• Secured multi-million-dollar contract for military products
• Immediate commencement of deliveries
• Integration of Display Unit and Mission Computer into a single unit, reducing installation complexity
• Expansion of existing OEM programs with major aerospace companies

Negative

• None.

Financial Analyst

The multi-million dollar contract secured by IS&S is a significant win for the company, potentially boosting its revenue and market position in the aerospace sector. While the exact contract value isn't disclosed, the immediate commencement of deliveries suggests a positive impact on near-term cash flow.

This contract reinforces IS&S's position in the military aerospace market, expanding its customer base to include foreign militaries. The integration of display and mission computer functionalities into a single unit demonstrates IS&S's technological edge, which could lead to improved profit margins and competitive advantage.

Investors should note that this contract adds to IS&S's growing portfolio of OEM programs, including partnerships with major players like Boeing and Textron. This diversification could potentially reduce business risk and provide more stable revenue streams in the long term.

Aerospace Technology Expert

IS&S's 19" Multifunction Display with Integrated Mission Computer represents a significant technological advancement in avionics. The integration of display and mission computer into a single unit is a game-changer, offering several advantages:

• Reduced wiring needs, simplifying installation and maintenance
• Potential weight reduction, contributing to fuel efficiency
• Enhanced data integration capabilities

The multi-touchscreen interface and versatile functionality make this system highly adaptable for various military applications. The ability to perform mission planning, execution and data display with advanced processors indicates a leap in operational efficiency for military aircraft.

This technology could position IS&S as a key player in military avionics modernization efforts globally, opening doors for future contracts and partnerships.

Market Research Analyst

This contract signals growing demand for advanced avionics in the military sector, particularly among foreign militaries. The trend towards modernizing commercial derivative platforms for military use presents a lucrative market opportunity for companies like IS&S.

The company's expanding OEM relationships, now including foreign militaries alongside established partnerships with Pilatus, Textron and Boeing, indicate a strong market position and potential for further growth. This diversification across commercial and military sectors could provide resilience against market fluctuations.

Investors should monitor the global defense spending trends, particularly in regions where IS&S's technology is being adopted. Any geopolitical tensions or increased military modernization efforts could potentially drive further demand for IS&S's products, impacting the company's future performance and stock value.

EXTON, Pa.--(BUSINESS WIRE)-- Innovative Solutions & Support (IS&S) (NASDAQ: ISSC) received a multi-million-dollar production order contract to supply its 19” Multifunction Display (MFD) with an Integrated Mission Computer on a Commercial Derivative platform in current use by several Foreign Militaries. Deliveries will begin immediately.

The IS&S 19” Multifunction Display is a versatile flat panel display with multi-touchscreen interface for commercial and military aircraft. This display can perform a variety of functions including data integration, displaying primary flight/navigation information, mission planning and execution and mission data display utilizing latest generation integrated processors which power the Mission Computer. IS&S has integrated the Display Unit (DU) and the Mission Computer into a single unit, reducing wiring needs allowing for easy installation.

“IS&S continues to develop new generations of increasingly sophisticated and technically advanced products delivering improved mission capability and performance to military operators,” IS&S CEO Shahram Askarpour stated. “We are pleased to begin deliveries on this contract and look forward to continuing our development of state-of-the-art products that increase automation, enhance the efficiency and safety of commercial and military operations.”

This marks the latest OEM contract for IS&S building on existing OEM programs with Pilatus Aircraft for the PC-24, Textron Aviation for the King Air 260/360 and The Boeing Company for the KC-46A, KC-767A and the T-7A.

About Innovative Solutions & Support, Inc.

Headquartered in Exton, Pa., Innovative Solutions & Support, Inc. (www.innovative-ss.com) is a U.S.-based company specializing in the engineering, manufacturing, and supply of advanced avionic solutions. Its extensive global product reach and customer base span commercial and military markets, catering to both airframe manufacturers and aftermarket services for fixed-wing and rotorcraft applications. IS&S offers cutting-edge, cost-effective solutions while maintaining legacy product lines. The company is poised to leverage its experience to create growth opportunities in next-generation navigation systems, advanced flight deck and special mission displays, precise air data instrumentation, autothrottles, flight control computers, mission computers and software based situational awareness targeting autonomous flight. Supported by a robust portfolio of patents and the highest aircraft certification standards, IS&S is at the forefront of meeting the aerospace industry's demand for more sophisticated and technologically advanced products.

This release may contain certain statements of a forward-looking nature relating to future events. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements due to factors such as those discussed in filings made by the Company with the SEC, and readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Innovative Solutions & Support, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240808958293/en/

IR CONTACT

Paul Bartolai or Noel Ryan

ISSC@val-adv.com

Source: Innovative Solutions & Support, Inc.

FAQ

What is the value of the contract ISSC received for its military products?

The contract ISSC received is described as a multi-million-dollar production order, but the exact value is not specified in the press release.

What product is ISSC supplying under this new contract?

ISSC is supplying its 19" Multifunction Display (MFD) with an Integrated Mission Computer for a Commercial Derivative platform used by several Foreign Militaries.

When will ISSC begin deliveries for this new contract?

According to the press release, deliveries will begin immediately.

What are some of the existing OEM programs ISSC is involved in?

ISSC has existing OEM programs with Pilatus Aircraft for the PC-24, Textron Aviation for the King Air 260/360, and The Boeing Company for the KC-46A, KC-767A, and the T-7A.