ANDOVER, Mass., July 12, 2023 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a technology company that delivers processing power for the most demanding aerospace and defense missions, received a five-year contract worth as much as $83 million from the U.S. Naval Air Systems Command to deliver high-definition, digital Head-Up Display (HUD) systems for the T-45 Goshawk training aircraft. This firm-fixed-price delivery order was issued under a previously awarded basic ordering agreement. The Navy is the first customer to adopt Mercury’s HUD1080 technology that enables aviators to see critical flight and weapons data in real-time without taking their eyes off the sky.
Under this program, Mercury expects to deliver nearly 300 HUD systems, with the first $45 million production order awarded in conjunction with this contract. The T-45 Goshawk is a tandem-seat jet trainer used to train Navy and Marine Corps aviators to fly the U.S. military’s most advanced fighter jets, including the F/A-18E/F Super Hornet, F-35 Lightning, and the EA-18G Growler, as well as tactical airborne early warning aircraft such as the E-2 Hawkeye. The new T-45 HUD with an integrated camera is based on Mercury’s low-profile HUD design that minimizes pilot discomfort, enhances situational awareness, and maximizes an aviator’s field-of-view. It is also DAL-A certifiable—the highest level of design assurance that can be applied to airborne systems—allowing it to be used for critical flight and mission tasks such as landing on aircraft carriers.
Why It Matters
Pilots must understand a wealth of rapidly changing data while flying, and a HUD allows them to maintain awareness of this information without having to take their eyes off the sky to look down at multiple instruments. Current training aircraft use older analog HUD systems that have a bulky design, are out of production, and cannot integrate with the modern enhanced vision systems used in today’s fighter jets. The integration of Mercury’s HUD into the T-45 solves the obsolescence problem for the aircraft and ensures pilots are trained in an operationally realistic environment, as the systems are compatible with upcoming T-45 avionics upgrades.
“The introduction of the HUD1080 expands Mercury’s display technology portfolio and our ability to deliver mission-ready technology and solutions for all aspects of the avionics ecosystem,” said Mitch Stevison, Executive Vice President and President of Mercury’s Mission Systems division. “We look forward to delivering our digital HUD for the T-45 Goshawk, ensuring today’s student pilots have the technology to train for current and future missions.”
Mercury Systems – Innovation that Matters® by and for People Who Matter
Mercury Systems is a technology company that pushes processing power to the tactical edge, making the latest commercial technologies profoundly more accessible for today’s most challenging aerospace and defense missions. From silicon to system scale, Mercury enables customers to accelerate innovation and turn data into decision superiority. Mercury is headquartered in Andover, Massachusetts, and has 24 locations worldwide. To learn more, visit mrcy.com. (Nasdaq: MRCY)
Forward-Looking Safe Harbor Statement
This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the Company’s focus on enhanced execution of the strategic plan under a refreshed Board and leadership team. You can identify these statements by the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs, the timing and amounts of such funding, general economic and business conditions, including unforeseen weakness in the Company’s markets, effects of continued geopolitical unrest and regional conflicts, competition, inflation, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in, or in the U.S. government’s interpretation of, federal export control or procurement rules and regulations, changes in, or in the interpretation or enforcement of, environmental rules and regulations, market acceptance of the Company's products, shortages in or delays in receiving components, supply chain delays or volatility for critical components such as semiconductors, production delays or unanticipated expenses including due to performance quality issues or manufacturing execution issues, the impact of the COVID-19 pandemic and supply chain disruption, inflation and labor shortages, among other things, on program execution and the resulting effect on customer satisfaction, inability to fully realize the expected benefits from acquisitions, restructurings, and value creation initiatives such as 1MPACT, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, effects of shareholder activism, increases in interest rates, changes to industrial security and cyber-security regulations and requirements and impacts from any cyber or insider threat events, changes in tax rates or tax regulations, such as the deductibility of internal research and development, changes to interest rate swaps or other cash flow hedging arrangements, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, which difficulties may be impacted by the termination of the Company’s announced strategic review initiative, unanticipated challenges with the transition of the Company’s Chief Executive Officer and Chief Financial Officer roles, unanticipated costs under fixed-price service and system integration engagements, and various other factors beyond our control. These risks and uncertainties also include such additional risk factors as are discussed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended July 1, 2022 and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
MEDIA CONTACT
Michele Dempsey
Principal Public Relations
Michele.Dempsey@mrcy.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/91e657c8-b328-4bc3-a35d-d33041af4618
