Sikorsky-Boeing Picks Parker Aerospace For DEFIANT X FLRAA Entrant

• Parker-Hannifin Corp (NYSE:PH) business segment Parker Aerospace has been selected by the Sikorsky-Boeing team for the DEFIANT X entrant in the Future Long-Range Assault Aircraft (FLRAA). Financial terms were not disclosed.
• Sikorsky, a Lockheed Martin Co (NYSE:LMT), and Boeing Co (NYSE:BA) are partnered as Team DEFIANT, competing for the Future Vertical Lift FLRAA program award.
• The hydraulic pump suite for the DEFIANT X aircraft will consist of main gearbox pumps and a smaller auxiliary pump.
• The next-generation design offers benefits such as lighter weight and less heat rejection, resulting in reduced fuel burn than alternative pumps.
• The company noted these benefits provide lower life cycle costs for the U.S. Army.
• Price Action: PH shares are trading lower by 1.65% at $286.84 on the last check Thursday.