Air Industries Group (NYSE American: AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced that it has received a contract worth $2.6 million dollars for main landing gear assemblies for the US Navy E-2D Advanced Hawkeye aircraft. The E-2D Advanced Hawkeye is a mission-critical platform for the US Navy, identifying threats, coordinating aircraft movement, and managing the airspace surrounding an Aircraft Carrier Battle Group.
On December 9th we announced an $11 million-dollar award for E-2D landing gear assemblies. This new award is for some of the same products, but from a different customer. The prior award was to support production of new aircraft; this award is for aftermarket maintenance, repair or overhaul of existing aircraft already in service.
Lou Melluzzo, Chief Executive Officer of Air Industries Group commented: “The E-2D aircraft continues to be a cornerstone for Air Industries. Production of new E-2D aircraft continues, and there are numerous aircraft in the US Navy fleet. The aircraft is expected to remain in service into the 2040’s. We have supported this program for decades, and we look forward to supporting it for many years to come. This new award supports our aftermarket initiative for this and other programs, and it is consistent with our plan to broaden our support of international customers.
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Download free sample pages More informationThe business development initiatives we began in 2023 are bearing fruit. For all of calendar 2024 our bookings of new business have been strongly more than our billings. In December 2024 alone, we have announced three new contracts worth over $45 million dollars. Bookings lead to backlog, backlog leads to shipping and revenue. We are increasingly confident about our future.”
