L3Harris Awards CPI Aerostructures, Inc. Contract for Next Generation Jammer Low-Band Program

EDGEWOOD, N.Y., Dec. 11, 2024 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®" or the "Company") (NYSE:CVU), a leading manufacturer of structural assemblies in both the commercial and military defense aerospace markets, announced today that it was awarded by L3Harris Technologies (NYSE:LHX) a contract not-to-exceed $12.1 million to deliver airborne pod structures. This contract supports L3Harris' delivery of operational prototype pods to the U.S. Naval Air Systems Command for fleet assessment and additional test assets for airworthiness and design verification. The NGJ-LB pods will fly on the EA-18G Growler and will support the Navy's plan to replace the aging AN/ALQ-99 Tactical Jamming System. This first NGJ-LB contract to CPI Aero will commence immediately with deliveries starting in 2025 and extending through 2027.

The Next Generation Jammer – Low Band (NGJ-LB) is an advanced airborne electronic warfare system. L3Harris' solution consolidates advanced processing with increased jamming capability and will be easier to maintain than the Navy's current system through a modular, open-system architecture that enables seamless upgrades. The L3Harris system will operate with joint and allied forces to provide growth capacity for future technology integration to stay ahead of adversarial capabilities. NGJ-LB is scheduled to reach early operational capability in 2029.

"This new contract is a big win for CPI Aero and a new milestone for our team. We are excited to be the pod structure provider for L3Harris on the 2^nd Increment of the Next Generation Jammer Program. This Program joins several other previously announced new airborne pod programs at CPI Aero, including the Next Generation Jammer - Mid Band Program," stated Dorith Hakim, President and CEO of CPI Aero.

Added Ms. Hakim "We look forward to working with our new customer, L3Harris on this transformational development program and leveraging our expertise and significant experience manufacturing airborne podded systems."

About CPI Aero: CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI Aero also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services.

Forward-looking Statements

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CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.