United Technologies Corp.
) is reportedly set to win a huge contract worth $6.8 billion for
112 rescue helicopters from the U.S. Air Force, as most of its
competitors have missed the deadline to submit the requisite
bids. The multi-billion deal will likely provide a much-needed
boost in the Sikorsky helicopter segment of the company.
The helicopters are intended to be utilized for rescue
operations by pilots downed during missions or for civil search
and rescue efforts, humanitarian missions, disaster relief and
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Sikorsky is one of the world's largest manufacturers of military
and commercial helicopters and also provides helicopter and
aircraft parts and services. 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 operations.
Sikorsky's aftermarket business includes spare parts sales,
overhaul and repair services, maintenance contracts and logistics
support programs for helicopters and other aircraft. Sales are
made directly by Sikorsky and by its subsidiaries and joint
ventures. Sikorsky is also increasingly engaging in logistics
support programs and partnering with its government and
commercial customers to manage and provide maintenance and repair
As several rival companies such as
Northrop Grumman Corporation
) and AgustaWestland NV; a joint venture company of
The Boeing Company
) and Bell Helicopter
); and European Aeronautic, Defence and Space Co. had refused to
submit bids for the tender offer for 112 rescue helicopters,
Sikorsky is likely to wind up with the contract undisputedly.
However, the U.S. Air Force spokesperson has denied commenting on
this regard citing fair and transparent process that prohibits
sharing of information until the selection process is fully
Based in Hartford, Connecticut, United Technologies is a
diversified company that provides a broad range of
high-technology products and services to the global aerospace and
building systems industries. The company also operates a central
research organization that pursues technologies for improving the
performance, energy efficiency and cost of its products and
United Technologies currently has a Zacks #3 Rank (Hold). We have
a long-term Neutral recommendation on the stock.