Ducommun Incorporated, a global supplier of electronic and structural solutions for the aerospace and defense industry, has announced two major awards totaling over $50M in revenue for the Raytheon SPY-6 family of radar systems.
The awards consist of a $25M follow-on order for a circuit card assembly that is already in production, as well as a $25M order for a brand new circuit card assembly. All cards will be manufactured at Ducommun’s performance center in Tulsa, Oklahoma.
Stephen G. Oswald, Chairman, President, and CEO of Ducommun, expressed excitement over earning the trust of Raytheon and the opportunity to support their Navy radar system. He also mentioned the company’s move into radar systems for defense, which complements their existing circuit card assemblies franchise for missiles.
With these two new awards, Ducommun’s backlog continues to reach all-time high records, exceeding $1B. The company currently provides Raytheon with electronics, circuit card assemblies, harness cable assemblies, and structural products for both legacy and emerging programs.
Ducommun Incorporated specializes in Electronic Systems and Structural Systems, delivering value-added manufacturing solutions to customers in the aerospace, defense, and industrial markets. They have a long history dating back to 1849 and are focused on producing complex products for various applications.
Raytheon, a key customer of Ducommun, has treated them as a trusted partner and provided many opportunities for collaboration. Ducommun remains committed to delivering value and maintaining a strong relationship with Raytheon and its customers.
Please note that this press release contains forward-looking statements and the information provided is subject to risks and uncertainties. Ducommun does not guarantee the accuracy of the information beyond the date of this press release.
Ducommun Incorporated operates in the aerospace and defense industry, providing electronic and structural solutions to its customers. This industry is characterized by the production of advanced technology and equipment for both civil and military applications. The aerospace sector primarily deals with the design, manufacture, and maintenance of aircraft and spacecraft, while the defense sector focuses on producing equipment for national defense and security purposes.
Market forecasts for the aerospace and defense industry are positive, with an expected growth due to increasing government spending on defense and the rise in air travel demand. According to a study by Market Research Future, the global aerospace and defense market is projected to reach a value of $1.8 trillion by 2025, driven by factors such as technological advancements, geopolitical tensions, and the need for modernizing military equipment.
One of the key products in the aerospace and defense industry is radar systems, which play a crucial role in detecting and tracking objects in the air and controlling air traffic. The Raytheon SPY-6 family of radar systems, for which Ducommun has received major awards, is known for its advanced capabilities and is widely used in naval applications.
However, the industry also faces challenges and issues. The aerospace and defense sector is highly regulated and subject to strict safety and security standards, which can increase production costs and lead to delays in the delivery of products. Additionally, geopolitical tensions and economic uncertainties can impact defense spending and procurement decisions, influencing the demand for aerospace and defense products.
To stay updated on developments in the aerospace and defense industry, you can visit Aerospace Industries Association (AIA) or Defense News, which provide news, analysis, and insights into the industry.
In conclusion, Ducommun Incorporated operates in the aerospace and defense industry, providing electronic and structural solutions. The company’s recent awards from Raytheon for the SPY-6 radar systems contribute to their growing backlog, highlighting the strong demand for their products. The aerospace and defense industry is expected to see significant growth in the coming years, driven by technological advancements and increasing defense spending. However, the industry also faces challenges related to regulations, geopolitical tensions, and economic uncertainties.