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Alliant Techsystems Inc. (ATK - Analyst Report) has received an order from the aerospace and defense major The Boeing Co. (BA - Analyst Report). Per the contract, the company will provide several substructural composite components, including center fuselage and aft fuselage to Boeing.

Boeing will utilize these components in its 787-9 and 787-10 airplanes. The delivery of these elements is scheduled to start immediately.

Boeing will use composite materials to manufacture the primary structure of the aircraft. This will make the plane lighter and stronger than conventional aluminum-made airplane. The airplanes will be more fuel efficient compared to its predecessors.

It is evident from past record that Alliant has strong ties with Boeing. The company has already offered several types of products and services to Boeing’s different projects. The company has supplied composite structures to Boeing for its 767 and 757 airplanes, C-17 Globemaster, F-18 fighter and V-22 Osprey.

We note that Alliant’s high quality of products and services also attracts other airplane manufacturers. Earlier, the company had provided aft fan composite cases to Rolls-Royce’s new Trent XWB-97 engine for the European airplane major Airbus’ A350-1000 aircraft.

Alliant also supports Boeing’s complex space projects in terms of offering numerous components for the GPS II-F satellites, and Delta II and Delta IV launch vehicles.

It is evident from Alliant’s order book that the company wins orders at regular intervals from the U.S. and foreign government establishments and private companies. On Jan 13, 2014, the company received an order from the U.S. Army to provide SERPA for the army’s Improved Modular Tactical Holster Program.

Alliant is currently following a systematic inorganic growth strategy to expand its product offering and scale of operations. This initiative will not only help Alliant to deliver products and services on time and gain more orders in the future but also cope with increased customer demand.

Alliant currently has a Zacks Rank #1 (Strong Buy). Some other stocks in the aerospace and defense industry looking equally good are Orbital Sciences Corporation (ORB - Snapshot Report) and TransDigm Group Incorporated (TDG - Analyst Report), each with a Zacks Rank #1 (Strong Buy).

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