With this single order, Air Industries’ backlog has surged to over ‘$280 million’ marking the first time it has exceeded a quarter of a billion dollars.
Air Industries Group, a prominent manufacturer of precision components and assemblies for aerospace and defense sectors, has announced a significant milestone in its ongoing partnership with major aerospace players. The company has secured a new seven-year contract valued at $110 million for the production of Thrust Struts used in the Geared Turbo-Fan (GTF) aircraft jet engine.
With this single order, Air Industries’ backlog has surged to over ‘$280 million’ marking the first time it has exceeded a quarter of a billion dollars. This significant increase is expected to have a major impact on both the company’s top and bottom lines.
Lou Melluzzo, Chief Executive Officer, Air Industries Group, commented, “This contract is a milestone for our company, underscoring the significance of our Thrust Struts product line, which has been a cornerstone of our business for nearly a decade. With this single order, our backlog has surged to over $280 million, marking the first time our backlog has exceeded a quarter of a billion dollars. This order will significantly impact our top and bottom lines, with this project alone expected to require approximately 40,000 hours of production annually at our Long Island manufacturing facility. Following the recent Farnborough Air Show, we remain focused on business development activities, strengthening our relationships with long-standing customers, and building new partnerships.“
This new agreement, which begins in January 2025 and runs through 2031, replaces and expands upon an existing contract that is set to expire in December 2024. As the sole supplier of these essential components since 2015, Air Industries is poised to benefit from a substantial boost in annual sales once production and deliveries commence.
Melluzzo, CEO of Air Industries Group, remarked, This order leverages the investment in specialized machinery, which is crucial for manufacturing Thrust Struts. These components are essential for fitting GTF engines to aircraft, highlighting their critical role in the aerospace supply chain.
Peter Rettaliata, Chairman of the Board, Air Industries, commented, “This remarkable achievement is a testament to the focused and strategic efforts of Lou and his team. Their hard work has not only strengthened our relationship with a key customer but has also delivered significant win to our shareholders. This accomplishment reflects the collective dedication and expertise of our entire team. On behalf of the Board of Directors and our shareholders, I extend my sincere congratulations and gratitude.”
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This contract solidifies Air Industries’ role in advancing next-generation jet engine technology and underscores its continued dominance in the aerospace components market.
