Luna Secures Follow-on Order with Lockheed Martin
04 Maio 2022 - 9:45AM
Business Wire
Significant Multi-Unit Purchase Order for
F-35
Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in
advanced fiber optic-based technology, today announced that it
secured an incremental, multi-unit purchase order for the OBR 6200,
portable backscatter reflectometer, through a continued
relationship with Lockheed Martin.
Core to Luna’s strategy is moving from single unit sales to
multi-unit sales. In 2020, Luna announced a $6.2 million deal with
Lockheed Martin to supply optical measurement products to support
the global fleet of F-35 aircraft and which extended a long-term
relationship resulting in a series of new hardware and software
technology developments. Luna’s products, including Optical
Backscatter Reflectometer (OBR), help customers precisely detect
potential failure points, thereby reducing the time and cost of
completing critical projects. The rugged and portable OBR 6200
boasts several critical features including industry-leading
accuracy and sensitivity for testing fiber optic networks. Due to
its superior resolution and precision, the OBR 6200 exceeds the
measurement and diagnostic capabilities of the industry-standard
optical time-domain reflectometer (OTDR).
“Lockheed Martin is a great partner of ours in the defense and
aeronautics industry. We have worked closely together to accelerate
the opportunities in this new era of advanced flight that requires
pushing the outer limits of engineering technology,” said Scott
Graeff, President and CEO of Luna Innovations. “Our relationship
with Lockheed Martin validates the quality of our products and our
commitment to helping our customers monitor the status of critical
assets like the F-35.”
Lockheed Martin and the F-35 program exemplify the resiliency
and continued growth opportunities associated with the global
defense and aerospace industry, which is projected to grow to
nearly $1.1 trillion by 2026 (Aerospace and Defense Market
Analysis). Luna anticipates opportunities to accelerate revenue as
Lockheed Martin and the industry recover from COVID and expand into
advanced air mobility, hypersonics, electric propulsion, and
hydrogen-powered aircraft.
Aerospace and Defense Market Analysis, Size and Trends Global
Forecast to 2022 - 2030. (2022, January). The Business Research
Company. Retrieved April 16, 2022, from The Business Research
Report
About Luna
Luna Innovations Incorporated (www.lunainc.com) is a leader in
optical technology, providing unique capabilities in
high-performance, fiber optic-based, test products for the
telecommunications industry and distributed fiber optic-based
sensing for a multitude of industries. Luna’s business model is
designed to accelerate the process of bringing new and innovative
technologies to market.
Forward-Looking Statement
The statements in this release that are not historical facts
constitute “forward-looking statements” made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties. These statements include
Luna’s expectations regarding technological capabilities, industry
trends, market opportunities, customer relationship and operational
efficacy related to its technology and/or products. Management
cautions the reader that these forward-looking statements are only
predictions and are subject to a number of both known and unknown
risks and uncertainties, and actual results, performance, and/or
achievements of Luna may differ materially from the future results,
performance, and/or achievements expressed or implied by these
forward-looking statements as a result of a number of factors.
These factors include, without limitation, changes in market needs
and technological challenges, competitive forces and other risks
and uncertainties set forth in Luna’s periodic reports and other
filings with the Securities and Exchange Commission (“SEC”). Such
filings are available on the SEC’s website at www.sec.gov and on
Luna’s website at www.lunainc.com. The statements made in this
release are based on information available to Luna as of the date
of this release and Luna undertakes no obligation to update any of
the forward-looking statements after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220504005663/en/
Investor Contact: Allison Woody Luna Innovations
Incorporated Phone: 540.769.8465 Email: woodya@lunainc.com
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