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Textron (TXT) Clinches an Agreement for 48 Cessna Skyhawk Jets
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Textron Inc. (TXT - Free Report) recently clinched an agreement with BAA Training for supplying 48 of its Cessna Skyhawk aircraft. The anticipated scheduled delivery of the aircraft is 2026.
Being a longstanding customer of Cessna Skyhawk aircraft, BAA Training has once again expanded its fleet with this family of jets from Textron. This underscores the aircraft’s consistent ability to effectively meet the requirements of flight training.
Significance of Cessna Skyhawk Aircraft
The Cessna Skyhawk piston is the most popular single-engine aircraft ever built and has achieved a reputation for being the ultimate training aircraft. With simplistic flight characteristics, great visibility and a sophisticated glass cockpit outfitted with GARMIN G1000 avionics, the Cessna Skyhawk piston boasts slow landing speed and a lenient stall. These characteristics make it a flight-training favorite ideally suited for student pilots.
Underpinned by such remarkable features, Textron could witness such a strong inflow of orders for the aircraft, as gauged by more than 45,000 Cessna Skyhawk aircraft to customers worldwide since its inception.
Textron’s capability to build such aircraft has led the company to consistently boost its revenues and maintain a consistent flow of orders.
Growth Prospects of the Utility Aircraft Market
The demand for pilot training aircraft is expected to witness a northward trend, buoyed by expansion in the aviation market, the rising need for skilled pilots, the rise in demand for air travel and advanced training requirements to meet the requisites of emerging technology. The global pilot training market is projected to see a CAGR of more than 13.8% in 2023-2030, per a report by Fortune Business Insights.
Considering Textron’s Cessna Skyhawk aircraft’s ability to meet the standard of advanced pilot training, the company is well-poised to reap the benefits of the expanding market. Another company that is likely to reap the benefits of the expanding pilot training market is Boeing (BA - Free Report) .
Boeing’s T-7A Red Hawk is an all-new Advanced Pilot Training System for the U.S. Air Force, with the flexibility to evolve as technologies, missions and training needs change. Digitally designed, built and tested, the T-7A is a low-risk, leading-edge, live, virtual and constructive fifth-generation aircrew training system that delivers a multi-generational leap in the capability to revolutionize and reinvigorate fighter pilot training.
Boeing boasts a long-term earnings growth rate of 4%. Shares of BA have rallied 25.4% in the past year.
Price Movement
In the past year, shares of Textron have risen 9.4% against the industry’s decline of 12.1%.
The Zacks Consensus Estimate for VirTra’s 2023 sales indicates growth of 33.6% from the prior-year reported figure. The Zacks Consensus Estimate for 2023 earnings suggests a massive improvement from the prior-year reported figure.
VTSI boasts a long-term earnings growth rate of 30%. The company’s shares have rallied 51% in the past year.
The Zacks Consensus Estimate for Leidos’ 2023 earnings implies growth of 6.4% from the prior-year reported figure. The Zacks Consensus Estimate for its 2023 sales indicates growth of 5.8% from the prior-year reported number.
The long-term earnings growth rate of Leidos stands at 8.1%. Shares of LDOS have risen 31% in the past six months.
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Textron (TXT) Clinches an Agreement for 48 Cessna Skyhawk Jets
Textron Inc. (TXT - Free Report) recently clinched an agreement with BAA Training for supplying 48 of its Cessna Skyhawk aircraft. The anticipated scheduled delivery of the aircraft is 2026.
Being a longstanding customer of Cessna Skyhawk aircraft, BAA Training has once again expanded its fleet with this family of jets from Textron. This underscores the aircraft’s consistent ability to effectively meet the requirements of flight training.
Significance of Cessna Skyhawk Aircraft
The Cessna Skyhawk piston is the most popular single-engine aircraft ever built and has achieved a reputation for being the ultimate training aircraft. With simplistic flight characteristics, great visibility and a sophisticated glass cockpit outfitted with GARMIN G1000 avionics, the Cessna Skyhawk piston boasts slow landing speed and a lenient stall. These characteristics make it a flight-training favorite ideally suited for student pilots.
Underpinned by such remarkable features, Textron could witness such a strong inflow of orders for the aircraft, as gauged by more than 45,000 Cessna Skyhawk aircraft to customers worldwide since its inception.
Textron’s capability to build such aircraft has led the company to consistently boost its revenues and maintain a consistent flow of orders.
Growth Prospects of the Utility Aircraft Market
The demand for pilot training aircraft is expected to witness a northward trend, buoyed by expansion in the aviation market, the rising need for skilled pilots, the rise in demand for air travel and advanced training requirements to meet the requisites of emerging technology. The global pilot training market is projected to see a CAGR of more than 13.8% in 2023-2030, per a report by Fortune Business Insights.
Considering Textron’s Cessna Skyhawk aircraft’s ability to meet the standard of advanced pilot training, the company is well-poised to reap the benefits of the expanding market. Another company that is likely to reap the benefits of the expanding pilot training market is Boeing (BA - Free Report) .
Boeing’s T-7A Red Hawk is an all-new Advanced Pilot Training System for the U.S. Air Force, with the flexibility to evolve as technologies, missions and training needs change. Digitally designed, built and tested, the T-7A is a low-risk, leading-edge, live, virtual and constructive fifth-generation aircrew training system that delivers a multi-generational leap in the capability to revolutionize and reinvigorate fighter pilot training.
Boeing boasts a long-term earnings growth rate of 4%. Shares of BA have rallied 25.4% in the past year.
Price Movement
In the past year, shares of Textron have risen 9.4% against the industry’s decline of 12.1%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
Textron currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the same sector are VirTra (VTSI - Free Report) and Leidos Holdings (LDOS - Free Report) . While VirTra sports a Zacks Rank #1 (Strong Buy), Ledios Holdings carries a Zacks Rank # 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for VirTra’s 2023 sales indicates growth of 33.6% from the prior-year reported figure. The Zacks Consensus Estimate for 2023 earnings suggests a massive improvement from the prior-year reported figure.
VTSI boasts a long-term earnings growth rate of 30%. The company’s shares have rallied 51% in the past year.
The Zacks Consensus Estimate for Leidos’ 2023 earnings implies growth of 6.4% from the prior-year reported figure. The Zacks Consensus Estimate for its 2023 sales indicates growth of 5.8% from the prior-year reported number.
The long-term earnings growth rate of Leidos stands at 8.1%. Shares of LDOS have risen 31% in the past six months.