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Curtiss-Wright Secures a $26M Deal From Belgian Air Force
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Curtiss-Wright Corporation (CW - Free Report) recently clinched a $26 million multi-year contract from the Belgian Air Force to modernize its aircraft arresting systems. The contract also offers a range of services, overhauls, repairs and replacement parts to support the military flying operations of the Belgian Air Force.
About CW’s Contract
Per the deal, Curtiss-Wright will supply three airbases with new cable systems and associated turnkey services to facilitate the impending F-35 delivery to Belgium and ensure the safety of its emergency takeoff and landing phases.
Curtiss-Wright will gradually equip the parallel and main runways at Bevauchain, Kleine-Brogel and Florennes Air Bases to promote total uniformity of all air base layouts. The ESCO SmartArrest technology from Curtiss-Wright, a special computerized variant of the ESCO BAK-12 energy absorber, will automatically ensure the successive arrestment of multiple fighter jet platforms.
CW’s Growth Prospects
The increasing defense budgets and advancements in aerospace technology must have increased the demand for maintenance and upgrade solutions. As nations are spending heftily these days to secure their borders, fighter jets are playing a key role in defending a country’s safety. This has been boosting the demand for fighter jets. As demand for new aircraft is rising, so is the need for maintenance, repair and overhaul (MRO) services.
Per a report by Mordor Intelligence, the Military Aircraft MRO market is projected to reach nearly $47.48 billion by 2029, with a CAGR of 2.8% between 2024 and 2029. Such growth opportunities offered by the aforementioned market should bode well for Curtiss-Wright in the coming years.
With thousands of commercial and military aircraft under its care, Curtiss-Wright's Product Support group has more than 25 years of expertise in repairing and overhauling complex flight control actuators and the structural components that support them. The company provides heavy maintenance support, modification programs and customized component repair solutions for these vital parts.
Opportunities for CW’s Peers
Apart from Curtiss-Wright, defense contractors that are anticipated to benefit from the expanding Military Aircraft MRO market are as follows:
RTX Corporation (RTX - Free Report) : The company’s unit, Collins Aerospace, is known for its advanced avionics solutions. Its MRO services include the maintenance and repair of avionics systems, seat inspections, teardown and analysis, from minor repairs to major repairs.
RTX has a long-term (three to five years) earnings growth rate of 10.4%. The Zacks Consensus Estimate for RTX’s 2024 sales suggests growth of 7% from the prior-year reported figure.
Lockheed Martin (LMT - Free Report) : Its Sikorsky Military Aircraft’s Overhaul and Repair organization offers a diversified range of system services, repairing and overhauling dynamic systems, blades, avionics and numerous other components, from aircraft tip to tail.
Lockheed Martin has a long-term earnings growth rate of 4.7%. The Zacks Consensus Estimate for LMT’s 2024 sales implies growth of 5.3% from the prior-year reported figure.
AAR Corp. (AIR - Free Report) : The company is the largest independent MRO provider in North America, serving a global customer base. AIR provides major maintenance inspections, modifications, upgrades, refurbishments and painting for a diverse range of aircraft OEM platforms.
AAR Corp. delivered an average earnings surprise of 2.59% in the last four quarters. The Zacks Consensus Estimate for the company’s fiscal 2025 sales calls for growth of 16.1% from the fiscal 2024 estimated figure.
CW Stock Price Movement
In the past six months, shares of Curtiss-Wright have rallied 26.8% compared with the industry’s rise of 14%.
Image: Bigstock
Curtiss-Wright Secures a $26M Deal From Belgian Air Force
Curtiss-Wright Corporation (CW - Free Report) recently clinched a $26 million multi-year contract from the Belgian Air Force to modernize its aircraft arresting systems. The contract also offers a range of services, overhauls, repairs and replacement parts to support the military flying operations of the Belgian Air Force.
About CW’s Contract
Per the deal, Curtiss-Wright will supply three airbases with new cable systems and associated turnkey services to facilitate the impending F-35 delivery to Belgium and ensure the safety of its emergency takeoff and landing phases.
Curtiss-Wright will gradually equip the parallel and main runways at Bevauchain, Kleine-Brogel and Florennes Air Bases to promote total uniformity of all air base layouts. The ESCO SmartArrest technology from Curtiss-Wright, a special computerized variant of the ESCO BAK-12 energy absorber, will automatically ensure the successive arrestment of multiple fighter jet platforms.
CW’s Growth Prospects
The increasing defense budgets and advancements in aerospace technology must have increased the demand for maintenance and upgrade solutions. As nations are spending heftily these days to secure their borders, fighter jets are playing a key role in defending a country’s safety. This has been boosting the demand for fighter jets. As demand for new aircraft is rising, so is the need for maintenance, repair and overhaul (MRO) services.
Per a report by Mordor Intelligence, the Military Aircraft MRO market is projected to reach nearly $47.48 billion by 2029, with a CAGR of 2.8% between 2024 and 2029. Such growth opportunities offered by the aforementioned market should bode well for Curtiss-Wright in the coming years.
With thousands of commercial and military aircraft under its care, Curtiss-Wright's Product Support group has more than 25 years of expertise in repairing and overhauling complex flight control actuators and the structural components that support them. The company provides heavy maintenance support, modification programs and customized component repair solutions for these vital parts.
Opportunities for CW’s Peers
Apart from Curtiss-Wright, defense contractors that are anticipated to benefit from the expanding Military Aircraft MRO market are as follows:
RTX Corporation (RTX - Free Report) : The company’s unit, Collins Aerospace, is known for its advanced avionics solutions. Its MRO services include the maintenance and repair of avionics systems, seat inspections, teardown and analysis, from minor repairs to major repairs.
RTX has a long-term (three to five years) earnings growth rate of 10.4%. The Zacks Consensus Estimate for RTX’s 2024 sales suggests growth of 7% from the prior-year reported figure.
Lockheed Martin (LMT - Free Report) : Its Sikorsky Military Aircraft’s Overhaul and Repair organization offers a diversified range of system services, repairing and overhauling dynamic systems, blades, avionics and numerous other components, from aircraft tip to tail.
Lockheed Martin has a long-term earnings growth rate of 4.7%. The Zacks Consensus Estimate for LMT’s 2024 sales implies growth of 5.3% from the prior-year reported figure.
AAR Corp. (AIR - Free Report) : The company is the largest independent MRO provider in North America, serving a global customer base. AIR provides major maintenance inspections, modifications, upgrades, refurbishments and painting for a diverse range of aircraft OEM platforms.
AAR Corp. delivered an average earnings surprise of 2.59% in the last four quarters. The Zacks Consensus Estimate for the company’s fiscal 2025 sales calls for growth of 16.1% from the fiscal 2024 estimated figure.
CW Stock Price Movement
In the past six months, shares of Curtiss-Wright have rallied 26.8% compared with the industry’s rise of 14%.
Image Source: Zacks Investment Research
Zacks Rank
Curtiss-Wright currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.