CPI Aerostructures receives $1.2 million follow-on order from Lockheed Martin for F-16 structural assemblies

EDGEWOOD, N.Y., - CPI Aerostructures, Inc. announced that it was awarded a follow-on order from Lockheed Martin to manufacture structural assemblies for new production F-16 Block 70/72 aircraft ‒ the newest and most advanced F-16 production configuration.

In February 2019, CPI Aero announced a multi-year contract with Lockheed Martin to provide Rudder Island and Drag Chute Canister (RI/DCC) assemblies for the F-16. Including the follow-on order, the total value of firm orders under the contract to CPI Aero has now reached approximately $8.7 million. Deliveries under the follow-on order are expected to occur in late 2021.

CPI Aero President and Chief Executive Officer Douglas McCrosson stated, “The success Lockheed Martin is experiencing in selling the F-16 in the international fighter market provides increasing opportunity for CPI Aero and further strengthens our long-standing relationship with Lockheed Martin that spans multiple platforms, including the F-35, the world’s premier 5th Generation fighter, and numerous Sikorsky helicopters. We take great pride in continuing to serve as the sole-source supplier of RI/DDC assemblies for the F-16 and appreciate Lockheed Martin’s acceleration of payments to CPI Aero during the COVID-19 Pandemic.”