Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced today contract awards received from Bell Textron Inc., a Texton Inc. (TXT) - Get Textron Inc. Report company, ("Bell") for Astronics to advance its CorePower® airframe electrical generation and power distribution systems to support their Future Long-Range Assault Aircraft (FLRAA) and Future Attack Reconnaissance Aircraft (FARA) programs. These programs are part of the U.S. Army's Future Vertical Lift initiative to improve vertical lift dominance with next generation capabilities.
Bell was recently selected for the competitive demonstration and risk reduction phase on the FLRAA program, which is intended to replace the UH-60 Blackhawk in the Army's fleet. Bell's candidate aircraft for the FLRAA program is the V-280 Valor. Astronics has been selected by Bell to develop the electrical power generation, conversion, and distribution system for the V-280. The development program is expected to be executed over the next 18 to 24 months.
Bell was also awarded a competitive prototype contract for the FARA program, which is the planned replacement for the OH-58D Kiowa in the Army's fleet. The Bell model in the FARA program is the 360 Invictus. Again, Bell selected Astronics to develop the aircraft's electrical power generation and distribution system.
The Bell 360 Invictus and V-280 Valor emphasize not just revolutionary capability, but innovative processes to mitigate technical risk, improve survivability, and increase lethality at an affordable cost.
The two efforts will incorporate Astronics' CorePower® family of solutions, employing solid state electronic circuit breaker technology to deliver clean, efficient power that improves aircraft performance and reduces system weight. The contracts entail power system design and development, including integration services and preliminary hardware deliveries. Astronics airframe power systems serve on military and civil aircraft programs worldwide.
Peter J. Gundermann, Chairman, President and CEO of Astronics, said, "Over the years, we have provided Bell with many innovative solutions for their aircraft. Our CorePower® technology is designed into the Bell 505 and Bell 525 aircraft, which have benefitted from the flexibility, reliability, and efficiency our solid state architecture provides. The success of these programs led Bell to select us for their Bell 360 and V-280 platforms for the U.S. Army's FARA and FLRAA programs, and we are pleased to participate."
Visit the Astronics website for more information about Astronics CorePower® airframe electrical power systems.
About Astronics Corporation
Astronics Corporation (Nasdaq: ATRO) serves the world's aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics.
For more information on Astronics and its solutions, visit Astronics.com.
Thinking above and beyond is what we do. For more than 80 years, we've been reimagining the experience of flight - and where it can take us.We are pioneers. We were the first to break the sound barrier and to certify a commercial helicopter. We were a part of NASA's first lunar mission and brought advanced tiltrotor systems to market. Today, we're defining the future of on-demand mobility.Headquartered in Fort Worth, Texas - as a wholly-owned subsidiary of Textron Inc., - we have strategic locations around the globe. And with nearly one quarter of our workforce having served, helping our military achieve their missions is a passion of ours.Above all, our breakthrough innovations deliver exceptional experiences to our customers. Efficiently. Reliably. And always, with safety at the forefront.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expressions. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially from what may be stated here include the success of the FARA and FLRAA programs, the timing and value of the power solutions, the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes and delivery schedules, the demand for and market acceptance of new or existing aircraft which contain the Company's products, the need for new and advanced test and simulation equipment, customer preferences and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
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