CPI Aero Secures $4M Contract From Collins For Airborne Pod System

CPI Aerostructures Inc CVU has secured a $4 million purchase order from Collins Aerospace, a unit of Raytheon Technologies Corp RTX, to manufacture the Tactical Synthetic Aperture Radar (TacSAR) intelligence, surveillance, and reconnaissance (ISR) system.
TacSAR is a long-range synthetic aperture radar system designed for overland and maritime reconnaissance and surveillance.
Under this new contract, CPI will complete non-recurring engineering (NRE) and tool development and build one prototype pod that Collins will use to complete the required test and evaluation of the TacSAR system.
Price Action: CVU shares are trading higher by 3.75% at $2.77 and RTX lower by 0.50% at $100.24 on the last check Thursday.