Orbit Technologies Ltd. (TASE:ORBI) today reported to the Tel Aviv Stock Exchange (TASE) that Irkut, Russian's largest private aerospace manufacturer, had informed Orbit of the successful completion of a test flight of the innovative MC-21 passenger jet, a competitor of Boeing 737 and Airbus 320. Orbit's Orion communications management system was successfully installed and integrated in the plane, and is one of its standard systems. Orbit deals in satellite communications, tracking systems, and airplane communications and hearing management systems.
The $4.5 billion Russian project has already generated millions of dollars in revenue for Orbit from the development and adaptation of the Orion system for the MC-21. Orbit expects follow-on orders in the coming years.
The Orion system is a complex system for management of IP-based communications. It was developed in order to provide a solution to a variety of Internet-based communications products and apps for aircraft. The system involves a platform that enables Orbit to make adjustments to various needs in the global aviation market. The system is expected to last for at least 30 years, and Orbit believes that the product's lifespan will enable it to make follow-on sales of the app and other apps for the Russian plane on the basis of what has already been installed.
Orbit president and CEO Eitan Livneh said, "We are proud to take part in one of the world's largest aviation projects and the launching of a new jet aircraft in Russia, for the first time in 30 years. The fact that Russia selected Orbit's systems to improve flight communications and safety shows more than anything else the quality of the systems, their technological advantage, and Orbit's highly developed installing and service capabilities. The fact that Orbit's systems are currently used in the aircraft of the world's leading airlines is evidence of the company's success and the reliability of its system. We are confident that these strategic agreements will enable Orbit to expedite its growth plans."
Orbit chairman and controlling shareholder Ze'ev Stein said, "In recent years, Orbit has been able to develop a new generation of management systems for aircraft in order to penetrate new market segments. I am glad that the agreements we have signed prove that we made the correct choice. These systems and strategic agreements will continue to strengthen the long-term revenue base and create additional business opportunities."
Published by Globes [online], Israel Business News - www.globes-online.com - on June 1, 2017
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