Goodrich to Supply DB-110 to Egypt - Analyst Blog

Goodrich Corporation (GR) was awarded a contract under the U.S. Air Force's Foreign Military Sale (FMS) contract to provide its advanced DB-110 airborne reconnaissance system for the Egyptian Air Force's new Block 52 F-16 fighter aircraft. Egypt is the eighth country to select Goodrich's DB-110 system.

Egypt is also acquiring 20 new Lockheed Martin Corporation's (LMT) Advanced Block 52 F-16 multi-role fighters under the Peace Vector Foreign Military Sale program.

Work for Goodrich's DB-110 reconnaissance pod will be performed by its serving intelligence, surveillance and reconnaissance (ISR) Systems team in Chelmsford, Massachusetts.

Goodrich's DB-110 reconnaissance pod is a digital, real-time, tactical reconnaissance system designed to capture images in day or night, using electro-optical sensor technology. The pod can transmit Images via datalink to the ground in real time.

The DB-110 will provide the Egyptian Air Force a day/night high-resolution, wide area ISR imaging capability to support tactical reconnaissance operations. Imagery can be viewed on the F-16's cockpit video display, enabling the pilot to verify targets and conduct tasks such as battle damage assessment. This system allows the pilot increased flexibility over current fielded systems.

Since the DB-110 was selected by Poland's Ministry of National Defense in 2003, all F-16 FMS customers have selected the DB-110 as their reconnaissance system. Given Goodrich's track record on the F-16, new customers are assured of a high-performance, low-risk, proven solution.

The Foreign Military Sales (FMS) program is the U.S. Government's program for transferring defense articles, services, and training to other sovereign nations and international organizations. Under FMS, the U.S. government procures defense articles and services on behalf of the foreign customer.

Based in Charlotte, North Carolina, Goodrich supplies components, systems and services to the commercial and general aviation airplane markets. The company also supplies systems and products to the global defense and space markets. Businesses include manufacturing, service and sales, which are carried out in various locations throughout the world.

Goodrich's products and services are sold in North America, Europe and Asia. Goodrich operates three business segments – Actuation and Landing Systems, Nacelles and Interior Systems and Electronic Systems.

We currently have a market Neutral recommendation on the Zacks #3 Rank (Hold) stock. Our current favorites among aerospace-defense equipment suppliers are the Zacks #2 Rank (Buy) stocks like AAR Corporation (AIR), and Astronics Corporation (ATRO).

 
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