UTC Aerospace Systems, a division of United Technologies Corp. UTX, recently announced its selection by Indian airline company IndiGo to supply the wheels and carbon brakes for its new fleet of new Airbus A320neo aircraft. The Landing Systems facility of UTC Aerospace Systems, located in Troy, OH, is expected to commence supply of the equipment from Nov 2015.
UTC Aerospace Systems will use its DURACARB carbon heat sink material for the A320 neo carbon brakes. This should foster extended brake life and lower maintenance costs, thereby generating significant cost savings.
The addition of IndiGo to its customer portfolio is a strategic move by UTC Aerospace to enhance its presence in the rapidly growing Indian passenger airline market. IndiGo is currently India's largest airline in terms of passenger volume. With the prevailing competitive environment in the aviation industry, UTC Aerospace mostly aims to cater to customer needs for building long-term relationships.
UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries.
United Technologies, the parent company of UTC Aerospace, provides high-end technology products and services to the building systems and aerospace industries worldwide. The company is a diversified business conglomerate serving various end markets such as aerospace, defense and commercial construction. The business diversification allows the company to remain profitable amid tough economic times.
United Technologies currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include Hitachi Ltd. HTHIY, Shanghai Industrial Holdings Limited SGHIY and Rollins Inc. ROL, each carrying a Zacks Rank #2 ( Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment