Israeli electronics company Orbit Communications Systems Ltd. (TASE:ORBI) has announced that US aircraft manufacturer Lockheed Martin has chosen the company's Orion Combat system as the next generation of the communication and audio management system for F-16s. The agreement is worth an estimated $46 million. The company's share price rose 30% on the Tel Aviv Stock Exchange (TASE) following the announcement to
Orbit Communication Systems provides airborne communications and satellite-tracking maritime and ground-station solutions. The company is controlled by FIMI Opportunity Funds.
The agreement includes development, production and support of the audio management systems and will enable the continued supply of F-16s and the fulfillment of existing commitments to partners around the world. There are currently about 3,000 of the planes flying in more than 25 countries.
The agreement also creates a basis for the transfer of technologies and manufacturing to support Indian products for Lockheed Martin's F-21, if it will be chosen in the multi-role combat aircraft competition for the Indian Air Force. For the F-21, Orbit plans to collaborate with ELCOM and CPC Radant - the aircrafts' subcontractors in India.
Orbit CEO Daniel Eshchar said, "This win indicates the great confidence in the 3D audio management systems made by Orbit. This win continues to place Orbit, which this year celebrates the 70th anniversary of its establishment, as a market leader of audio systems for a variety of aerial platforms including fighter planes, trainer planes and more."
Published by Globes, Israel business news - en.globes.co.il - on August 23, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020