Astronics Corporation Announces Growing Backlog of Electrical System Solutions for eVTOL Aircraft Manufacturers
01 Agosto 2023 - 9:30AM
Business Wire
Astronics Corporation (Nasdaq: ATRO), a leading provider of
advanced technologies for global aerospace, defense, and other
mission critical industries, announced today that it has accepted
purchase orders to provide certain electrical power distribution,
conversion, and vehicle charge control capabilities from ten eVTOL
aircraft OEMs who are developing electrical aircraft for emerging
air mobility missions. These orders include Astronics’ previously
announced program win to provide its enhanced CorePower® electrical
power distribution system for the Lilium Jet.
The combined orders represent approximately $20 million in sales
over the period to certification and consist of hardware deliveries
along with engineering support to achieve aircraft certification.
Once certified, Astronics expects these initial sales to result in
long-term production contracts.
Astronics has developed a set of capabilities and a family of
products which provide a wide range of electrical power management
solutions required by eVTOL aircraft. This includes high voltage
conversion from 800 VDC (Volts Direct Current) through 1000 VDC
converted down to 28 VDC, as well as low power distribution
throughout the aircraft. The hardware is designed to be compact and
lightweight, ensuring reliable power management from the aircraft
batteries to flight-critical end use systems, including flight
controls, avionics, navigation, communication, sensors, lighting,
and passenger comfort systems.
Jon Neal, President of Astronics Advanced Electronic Systems,
said “Over the last few years Astronics has expanded its CorePower®
product offerings to include a suite of high power electrical power
management capabilities that are critical to the safe and efficient
operation of small, electric aircraft. Our OEM customers have
chosen Astronics because of our breadth of products, our technical
expertise, and our commitment to supporting them through
certification. Astronics is excited to be part of the
electrification of aircraft moving towards more sustainable and
cleaner modes of transportation.”
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 over 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. The
Company’s strategy is to increase its value by developing
technologies and capabilities that provide innovative solutions to
its targeted markets.
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 and include all statements with regard to receiving
future long-term production contracts, and future demand for
electrical power distribution systems. 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 continued impact of supply chain constraints, trend in
growth with passenger power and connectivity on airplanes, 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 relationships, 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.
For more information on Astronics and its solutions, visit
Astronics.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230801631179/en/
Company: David C. Burney Executive Vice President and CFO
invest@astronics.com +1.716.805.1599
Investor: Kei Advisors LLC Deborah K. Pawlowski, Investor
Relations dpawlowski@keiadvisors.com +1.716.843.3908
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