Sikorsky Aircraft Corp., a subsidiary of
United Technologies Corp.
), recently inked an agreement with Milestone Aviation Group, a
global finance company that leases helicopters, to sell a fleet
of 23 S-92 and seven S-76D helicopters for an undisclosed
The contract also contains a separate provision for additional
orders of 14 S-92 and 10 S-76D helicopters. Sikorsky anticipates
to start delivering the helicopters in the current year and
expects to wind it up by 2017.
Since its inception in 2010, Milestone has provided helicopters
to various operators across the globe, primarily serving the
offshore oil and gas industry. Presently, it has a fleet of 79
leased helicopters that are cumulatively worth over $1 billion.
As demand for offshore oil helicopters has surged in the recent
years, the newly ordered helicopters are likely to further help
it in augmenting its position in the market.
Certified to meet the most stringent safety requirements of the
Federal Aviation Administration (FAA) and the European Aviation
Safety Agency (EASA), the S-92 helicopter is one of the most
advanced helicopters in the civil product line of Sikorsky. It
has an advanced health and usage monitoring system that increases
its reliability and enables superior fleet-management services.
The S-76D helicopter has optimized Pratt & Whitney Canada
PW210S engines and composite main rotor blades with a quiet tail
rotor that facilitates reduced external acoustic signature. It
combines the flexibility and agility of a helicopter with the
comfort, safety and quietness of an airliner, thereby setting a
new standard of excellence for Sikorsky.
Sikorsky is one of the world's largest manufacturers of military
and commercial helicopters, and also provides aftermarket
helicopter and aircraft parts and services for its parent company
At present, major production programs at Sikorsky include the
UH-60M Black Hawk medium-transport helicopters and HH-60M Medevac
helicopters for the U.S. and foreign governments, the S-70 Black
Hawk for foreign governments, the MH-60S and MH-60R helicopters
for the U.S. Navy, the International Naval Hawk for multiple
naval missions, and the S-76 and S-92 helicopters for commercial
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Based in Hartford, CT, United Technologies 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.
The operations of the company are primarily classified into two
principal businesses: commercial and aerospace. Under its
commercial business, the company has Otis and the UTC Climate,
Controls & Security division, which combined the former
Carrier and UTC Fire & Security divisions. The aerospace
business of the company consists of Sikorsky aircraft and the UTC
Propulsion & Aerospace Systems, which includes UTC Aerospace
Systems and Pratt & Whitney divisions.
United Technologies faces intense competition from industry
bigwigs such as
China Merchants Holdings (International) Company
Koninklijke KPN N.V.
Jardine Strategic Holdings Ltd.
), each carrying a Zacks Rank #1 (Strong Buy). United
Technologies presently has a Zacks Rank #3 (Hold).