NEW YORK, September 23, 2016 /PRNewswire/ --
In 2015, defense technology companies have been going through an
unstable period of time. The top six defense contractors reported a
fall in revenue, and flat profits. Research by PWC indicates that
2016 is expected to be a year of recovery. The report explains
that, a major issue for contractors has been the pressure to reduce
Pentagon's budget, and to come up with better ways to control its
spending. This year the outlook for defense technology companies
are stabilizing, so a relief from large budget cuts is expected
through 2017. Optex Systems Holdings, Inc. (OTCQB: OPXS),
Lockheed Martin Corporation (NYSE: LMT), Raytheon
Company (NYSE: RTN), Honeywell International Inc. (NYSE:
HON), Textron Inc. (NYSE: TXT)
While the government, in particular the Pentagon, continues to
debate about appropriate financials, several major deals have been
signed. Small companies like Optex Systems Holdings, Inc.
(OTCQB: OPXS) enjoyed new contracts this year. The company is
focusing on manufacturing optical sighting systems and assemblies
for the United States Department of Defense, foreign military
applications as well as commercial markets. Last month the company
announced it has won a 5-year Indefinite Delivery, Indefinite
Quantity (IDIQ) contract worth $5.99
million to supply its laser protected periscopes to the
Defense Logistics Agency. Optex provides a variety of glass and
plastic periscopes with and without laser protection used on
various vehicle platforms. The Company's current footprint in the
periscopes & vision block market is an estimated 75% market
share in the U.S. ($8-$10 M) and
20-30% worldwide ($40-$50 M).
"One of our priorities has been to increase our margins by
securing more commercial contracts while maintaining our
established footprint in the armored vehicle platforms," said
Danny Schoening, Optex's CEO.
"Winning the bid on this multi-year agreement demonstrates our
capability to execute on this strategy. Given our strong IP, our
excellent proven military products and a pipeline of new commercial
products, we anticipate many more exciting contracts in the coming
months."
Optex Systems Holdings, Inc. (OPXS) this month then
announced, it has received a new Purchase Order from Defense
Logistics Agency for $450,000 to
supply collimators for the Abrams Main Battle Tank. "We are pleased
to support the Defense Logistics Agency by providing this critical
weapon sighting system for the Abrams Tank. This precision
optical-mechanical system supports the main gun sighting system, so
we are excited to provide Optex's capability to meet this demand,"
said Danny Schoening, Optex's
CEO.
One of the biggest and most popular defense contractors in the
U.S, Lockheed Martin Corporation (NYSE: LMT), scored a major
win this September. The company received an $87.6 million contract from the U.S. Air Force
for follow-on production of Paveway II Plus Laser Guided Bomb (LGB)
kits. This contract represents the majority share of fiscal year
2016 funding and the 8th consecutive majority win for Lockheed
Martin in the annual Air Force competition.
Raytheon Company (NYSE: RTN) has been awarded a
$37,723,774 firm-fixed-price,
fixed-price-incentive, cost and cost-plus-fixed-fee contract for
the purchase of MK 54 lightweight torpedo common parts kits; MK 54
Mod 0 lightweight torpedo kits; and MK 54 exercise fuel tanks,
spares, production support material, engineering support, and
hardware repair support.
Honeywell International Inc. (NYSE: HON) earlier this
August came to an agreement with the U.S Army according to which
the Advanced Turbine Engine Company (ATEC), a joint venture of
Honeywell and Pratt & Whitney, has been awarded a contract for
preliminary design review of a new engine for the Army's fleet of
Black Hawk and Apache helicopters. This is a two-year contract and
is part of the Army's Improved Turbine Engine (ITE) program.
Textron Inc. (NYSE: TXT) received an order this May from
the U.S Air Force. The company has received two separate delivery
orders worth $11.5 million on an
existing four-year, indefinite delivery, indefinite quantity
contract. The orders are for 15 AN/USM-670A Joint Service
Electronic Combat Systems Testers (JSECST™) and 95
AN/USM-670A Retrofit Kits. This a continuation of the four-year
IDIQ contract from the U.S. Air Force valued at up to $43.6 million.
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