Air Industries Group Adds Important Arresting Gear Welding Capability To Support U.S. Navy E-2D Aircraft Program
Portfolio Pulse from Benzinga Newsdesk
Air Industries Group (NYSE:AIRI) has secured the welding equipment, related tooling and peripheral equipment used to weld the arresting gear that secures the E-2D aircraft's tail hook. This makes Air Industries the sole provider of this mission-critical welding process for the E-2D platform. The E-2D Advanced Hawkeye is a carrier-based, battle-management aircraft, and approximately 65 E-2Ds are active in the fleet, which is forecast to expand by more than 40% to 93 aircraft in 2027. Air Industries' E-2D product backlog is close to $20 million, or 29% of their total backlog.
September 08, 2023 | 12:34 pm
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Air Industries Group has become the sole provider of a mission-critical welding process for the E-2D platform. This could potentially increase the company's revenues as the E-2D fleet is expected to expand by more than 40% in the next few years.
Air Industries Group's acquisition of the welding equipment makes them the sole provider of this mission-critical process for the E-2D platform. This could potentially increase their revenues as the E-2D fleet is expected to expand by more than 40% in the next few years. The company's E-2D product backlog is close to $20 million, or 29% of their total backlog, indicating a strong demand for their products and services.
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