Air Industries Group Receives 2 Contracts Totaling $5.2M for US Navy E-2D Aircraft and F-35 JSF Components

Air Industries Group (the Company) (NYSE American: AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, today announced that it has been awarded two new contracts valued at a total of $5.2 million to produce components for the U.S. Navy E-2D aircraft and F-35 Joint Strike Fighter.

The first order is valued at $2.0 million for E-2D arresting gear components. The order originates from a long-time customer of Air Industries Group, which has manufactured these flight safety components for many years. Deliveries under this new order are expected to begin in 2025.

The second order is valued at $3.2 million for F-35 arresting gear components for the CV and CTOL versions of the aircraft. This order is from a new, non-U.S. customer for Air Industries Group. Deliveries under this order are expected to begin in the fourth quarter of 2023.

Mr. Lou Melluzzo, CEO of Air Industries, commented: “We are very pleased to have received two sizeable orders for mission-critical components. The E-2D aircraft is essential to controlling the airspace above U.S. Navy carrier battlegroups. Air Industries has supported the E-2D for many years and is proud to continue to do so.

“The new order for the F-35 aircraft is particularly gratifying as it is from a non-U.S. customer. Our business development strategy has focused on broadening our customer base and expanding our geographic reach. This contract from a European manufacturer is a positive step in both regards.”