TRIUMPH EXTENDS F-35 SUSTAINMENT AGREEMENT WITH LOCKHEED MARTIN

Rhea-AI Summary

Triumph Group, Inc. (NYSE: TGI) has extended its repair and technical support agreement with Lockheed Martin for the F-35 Joint Strike Fighter program. The company's Actuation Products & Services business in Clemmons, North Carolina, will provide engineering and material support for the next five years. TRIUMPH has been supplying Hydraulic Utility Actuation Valves (HUAV) for the F-35 since 2014 and began providing aftermarket parts for military depot operations in 2021. This extension showcases TRIUMPH's technical capability in high-demand depot settings, particularly at MCAS Cherry Point.

The agreement reflects TRIUMPH's growing presence in the military aftermarket. As a market leader in hydraulic power generation and actuation, TRIUMPH aims to provide exceptional service to Lockheed Martin and its customers. The company operates six manufacturing sites across North America and Europe, serving the global aviation industry with a broad portfolio of aerospace and defense systems and components.

Positive

• Extended repair and technical support agreement with Lockheed Martin for F-35 program
• Five-year contract for engineering and material support
• Expanding presence in military aftermarket
• Continued partnership with major defense contractor Lockheed Martin

Negative

• None.

RADNOR, Pa., Aug. 6, 2024 /PRNewswire/ -- Triumph Group, Inc. (TRIUMPH) [NYSE: TGI] today announced that its Actuation Products & Services business extended their repair and technical support agreement with Lockheed Martin as part of the F-35 Joint Strike Fighter fleet readiness support. TRIUMPH's Clemmons, North Carolina facility will provide engineering and material support for the program over the next five years.

TRIUMPH has provided original equipment and aftermarket Hydraulic Utility Actuation Valves (HUAV) for the F-35 program since 2014. The company began working with Lockheed Martin to provide HUAV aftermarket parts for military depot operations in 2021. The engineering and logistics agreement in support of sustainment efforts at MCAS Cherry Point will further showcase TRIUMPH's technical capability in high demand depot settings.

"TRIUMPH's support to the F-35 program, Lockheed Martin, and the warfighters and maintainers who expect and demand fleet readiness is a reflection of our growing military aftermarket presence," said Natasha Trudeau, President of TRIUMPH Actuation Product & Services. "As a market leader in hydraulic power generation and actuation, our Clemmons team will provide exceptional service to Lockheed Martin and their customers over the next five years. We look forward to supporting Lockheed Martin on this and future readiness opportunities."  

TRIUMPH Actuation Products & Services is a leading provider of integrated solutions in design, development, manufacture and support of complex hydraulic, electro-mechanical and mechanical actuation components and subsystems and landing gear systems for the aerospace and defense industry. Our Actuation Products & Services business services customers around the world with six manufacturing sites across North America and Europe.

TRIUMPH, headquartered in Radnor, Pennsylvania, designs, engineers, manufactures, repairs, and overhauls a broad portfolio of aerospace and defense systems and components. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators.

More information about TRIUMPH can be found on the company's website at www.triumphgroup.com.

View original content:https://www.prnewswire.com/news-releases/triumph-extends-f-35-sustainment-agreement-with-lockheed-martin-302215761.html

SOURCE Triumph Group

FAQ

What is the duration of TRIUMPH's extended agreement with Lockheed Martin for F-35 sustainment?

TRIUMPH has extended its repair and technical support agreement with Lockheed Martin for the F-35 program for the next five years.

What services will TRIUMPH (TGI) provide for the F-35 program under this agreement?

TRIUMPH will provide engineering and material support for the F-35 program, specifically Hydraulic Utility Actuation Valves (HUAV) and aftermarket parts for military depot operations.

Where will TRIUMPH (TGI) conduct its F-35 sustainment work for Lockheed Martin?

The work will be conducted at TRIUMPH's Actuation Products & Services facility in Clemmons, North Carolina.

Since when has TRIUMPH (TGI) been involved with the F-35 program?

TRIUMPH has been providing original equipment and aftermarket Hydraulic Utility Actuation Valves (HUAV) for the F-35 program since 2014.