Kaman Corp. (NYSE:KAMN) announced today that its Aerospace segment has been awarded several commercial sale purchase orders for the procurement of Joint Programmable Fuzes (JPF) totaling $68 million. The fuzes are expected to be delivered in 2015 and 2016.
"The reliability and functionality of the JPF cause it to remain in high demand with nations around the world. These orders solidify the program for the balance of this year, and with a program backlog that now exceeds $200 million, provide visibility well into 2017," stated Greg Steiner, President, Kaman Aerospace Group.
Kaman has been the sole provider of the JPF to the USAF since 2002. In addition to the USAF, Kaman provides the JPF to twenty-six other nations. The JPF allows the settings of a weapon to be programmed on wing in flight and is the current bomb fuze of choice of the USAF. The JPF is used with a number of weapons including general purpose bombs, and guided bombs that use JDAM or Paveway kits, on U.S. aircraft such as F-15, F-16, F-22, A-10, B-1, B-2, B-52 and the MQ-9 UAV as well as on international aircraft such as Mirage 3 and Gripen. Kaman produces the JPF at facilities in Orlando, Florida and Middletown, Connecticut.
Source: Kaman Corp.
Date: May 12, 2015