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Benzinga
Benzinga
Business
Akanksha Bakshi

Air Industries Pockets $12.4M Order From US Navy

U.S. Navy NYSE
  • Air Industries Group (NYSE:AIRI) subsidiary, Air Industries Machining Corp., has secured a contract to produce complete Main and Nose landing gear and ancillary components for the U.S. Navy's E-2D Advanced Hawkeye airborne early warning aircraft.
  • The contract value is ~$12.4 million, with deliveries starting in 2023 and completed in 2024.
  • The E-2D vital aircraft provides all-weather airborne early warning and command and control capabilities for all U.S. Navy aircraft carrier battle groups.
  • The E-2D Aircraft is one of five major aircraft platforms Air Industries supports, and it represented ~15% of the total sales in 2021.
  • Price Action: AIRI shares are trading higher by 3.01% at $0.84 on the last check Monday.
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