IRVINE, Calif., Nov. 6 /PRNewswire/ -- The new Lockheed Martin Joint Strike Fighter program will provide revenues of approximately $5 billion over the life of the program for supplier Parker Aerospace, an operating segment of Parker Hannifin Corporation (NYSE: PH).
Parker will design and produce a number of products for the new aircraft, named the F-35, including the entire fuel system (consisting of fuel pumps, valves, aerial refueling equipment, and an onboard inert gas generating system or OBIGGS) and all primary flight control actuators (teamed with Moog, Inc. Aircraft Group). The flight controls will use electrohydrostatic actuation technology for the first time in a production aircraft, for reduced weight and more efficient performance.
On the Pratt & Whitney F-135 engine, a variant of the F-22's F119 engine, Parker will provide engine controls and accessories, including bleed air control valves, oil-level indication, the lubrication and scavenge oil pump, and several other fuel-system-related engine products.
On the short takeoff vertical landing (STVOL) version of the aircraft ordered by the U.S. Marine Corps and the U.K. Royal Air Force and Royal Navy, Rolls-Royce will provide a shaft-driven lift fan system. Parker will supply the hydraulic control unit for the lift fan and clutch housing on this version of the engine.
Parker's current contract value on the F-35 is approximately $1 million per aircraft. Contracts for other products on the airframe and engine have yet to be awarded.
Production for the Joint Strike Fighter is estimated to extend until 2021, and its use until 2040. As many as 3,000 aircraft will be built initially, with projections of an additional 2,000 possible follow-on orders from other international allies.
Parker Aerospace divisions supporting the program include the Control Systems Division-Military (Irvine, California), Air & Fuel Division (Irvine, California, and Tolleson, Arizona), Nichols Airborne Division (Ayer, Massachusetts, and Elyria, Ohio), United Aircraft Products Division (Forest, Ohio), Electronic Systems Division (Smithtown, New York), and Stratoflex Division (Fort Worth, Texas).
Additionally, Parker's Customer Support Military Division (Irvine, California) will provide spares, repair, overhaul, and other aftermarket services for the life of the JSF program.
"The Joint Strike Fighter program is vital for the health of our nation," said Parker Aerospace President Steve Hayes. "Its advanced technologies will provide us with a superior defense vehicle and critical advantages in times of conflict."
Parker Aerospace designs, manufactures, and services hydraulic, fuel, and pneumatic components, systems, and related electronic controls for aerospace and other high-technology markets. Based in Irvine, California, its product lines include flight control actuation systems and components, thrust-reverser actuation systems, electrohydraulic servovalves, utility hydraulic systems and components, engine-driven and electric hydraulic pumps, AC and DC motor pumps, fuel pumps and valves, fuel tank inerting systems, aerial refueling equipment, fuel measurement and management systems, fuel atomization equipment, cockpit instrumentation, flight inspection systems, pneumatic subsystems and components, heat exchangers, lubrication and scavenge pumps, and wheels and brakes.
With annual sales of $6 billion, Parker Hannifin the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial, and aerospace markets. The company employs more than 45,000 people in 45 countries around the world.
For further information, please contact Cheryl Flohr of Parker Aerospace, +1-949-851-3636.
SOURCE Parker Aerospace
CONTACT: Cheryl Flohr of Parker Aerospace, +1-949-851-3636/
