AIRI - Air Industries nabs $12.4M order U.S. Navy E-2D Advanced Hawkeye

Air Industries (NYSE:AIRI) trades 8.4% higher premarket after it' s Long Island based subsidiary, Air Industries Machining received a contract to produce complete Main and Nose landing gear and ancillary components for the US Navy's E-2D Advanced Hawkeye, airborne early warning aircraft. The contract value is ~$12.4M with deliveries commencing next year and expected to be completed in 2024. The E-2D is a vital aircraft for the U.S. Navy and provides all-weather airborne early warning and command and control capabilities for all US Navy aircraft carrier battle groups. "We manufacture complete, ready to install, landing gear, as a Tier 1 supplier to the Original Equipment Manufacturer. The E-2D Aircraft is one of five major aircraft platforms we support and it represented ~15% of our total sales in 2021," CEO Mr. Lou Melluzzo commented.

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Air Industries nabs $12.4M order U.S. Navy E-2D Advanced Hawkeye