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Sikorsky Aircraft Corp., a subsidiary of diversified business conglomerate United Technologies Corp. (UTX - Analyst Report), recently received the Type Certification by Mexico's civil aviation authority, the Direccion General de Aeronautica Civil (DGAC), for its S-76D helicopters – the newest addition to its fleet. With this validation, the company is well on course to ramp up its final modifications for the helicopters for customer deliveries in 2013.
Earlier in Oct 2012, Sikorsky had received the green flag from the Federal Aviation Administration (FAA) for S-76D helicopters. The dual certification will facilitate the company to further augment its presence in the booming Mexican market. In the last 5-year period, Sikorsky had significantly consolidated its presence in the country with a steady supply of helicopters in the military, paramilitary, and commercial markets.
Close on the heels of the market approval by DGAC, Sikorsky received a contract from ASESA (Aeroservicios Especializados, S.A. de C.V.), a Mexican helicopter service provider, for the purchase of six S-76D helicopters for offshore oil transportation mission. The first helicopter is scheduled to be delivered later this year, while the rest are due to enter service in 2014.
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 United Technologies. 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.
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 during 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 presently has a Zacks Rank #3 (Hold). Other notable companies in the industry include Crane Co. (CR - Snapshot Report), Honeywell International Inc. (HON - Analyst Report), and Macquarie Infrastructure Company LLC (MIC - Snapshot Report), each carrying a Zacks Rank #2 (Buy).