Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received a contract award from BAE Systems’ Electronic Systems sector to manufacture and test electronic power supply modules for a large mission-critical military program. Production will begin in 2020. Terms of the agreement were not disclosed.
“This was an important award for Sypris in the DOD sector of our business,” said Jim Long, Vice President & General Manager of Sypris Electronics. “BAE Systems’ ‘mission success’ requirements fit well with our culture and business strategy focusing on high-reliability, mission-critical markets. BAE Systems’ Electronic Systems sector is a worldwide leader in the development and delivery of advanced technologies for the commercial and military electronics markets. We are excited to work with BAE Systems on this special program and Sypris collaborative engineering and operational strengths were key to this win.”
Key data points: The growth forecast = 5.9% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities and forecasts in automatic number plate recognition system market to 2031 by type (stationary and portable), application (traffic management, parking, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pages
