Air Industries Group

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Market Data: Yahoo Finance, Bloomberg, SEC Filings

Report Link: Updated Research Note (Dated December 2, 2024)

Symbol: AIRI
Analyst: Howard Halpern
Taglich Rating: Speculative Buy
Price Target: $7.75
Time Horizon: 12 Months
Rating Established: July 28, 2017
Price When Established: $13.80
Most Recent Report: December 2, 2024
Price When Issued: $6.37

What’s New

Air Industries Group Reports Estimated 6.6% 2024 Sales Growth

On January 16, 2024, Air Industries Group reported preliminary 2024 sales growth of approximately 6.6%. Total sales should approximate $54.9 million in 2024. Taglich Brothers estimated 2024 total sales of $54.2 million. 2024 sales growth was driven by the performance of the company’s Sterling Engineering subsidiary.

The company announced that total backlog grew 41% (or $79 million) to over $270 million with eighteen-month fully funded backlog increasing approximately 20% to over $117 million from approximately $97.4 million at December 31, 2023.

Air Industries mission is to compete for and win long-term agreements that drive sustainable and profitable growth by meeting the needs of its defense customers with the highest quality and product reliability.

Air Industries Secures New $5.9 million Contract

On January 8, 2025, Air Industries Group announced it received a contract worth $5.9 million for flight control assemblies (actuators) for the US Air Force F-5/T-38 aircraft. This contract expands AIRI’s portfolio of active aircraft platforms, supports its initiative to increase aftermarket business, and substantially increases the actuation backlog.

This contract win is payoff to the company which built a new actuation assembly and testing cell at its facility. It should be noted that anything that moves something from point “A” to point “B” on an aircraft requires an actuator, and whether it is pneumatic, hydraulic or electric, AIRI strives to be the supplier of choice for this commodity.

Air Industries Secures $33 million 7-year Contract

On December 20, 2024, Air Industries Group announced it received a $33 million, 7-year contract to manufacture and supply complex components for the CH-53K King Stallion helicopter program. This program is one of the U.S. Department of Defense’s most important procurement programs.

The company has been developing and refining the manufacturing plans for these type of components. This CH-53 King Stallion Helicopter program win should enable AIRI to significantly ramp up production and deliveries. The expected to increase revenue should allow for enhance profitability by increasing manufacturing hours and absorbing overhead costs.

Company Description

Air Industries Group, headquartered in Bay Shore, New York, operates primarily in the aerospace and defense industry. The company designs and manufactures structural parts and assemblies, including landing gear, arresting gear, engine mounts, flight controls, throttle quadrants, components for jet engines, and other aerospace components.