On Friday, Curtiss-Wright Corporation ( CW ) shares are trading relatively flat in the premarket session.

Yesterday, the company announced that it had been awarded multiple contracts to supply turret drive aiming and stabilization technology to Rheinmetall AG ( RNMBF ) for use on the German Army’s Boxer Heavy Weapon Carrier and the Hungarian Ministry of Defence’s Lynx Infantry Fighting Vehicles.

Under the contracts, Curtiss-Wright ( CW ) will provide Rheinmetall ( RNMBF ) with its scalable Turret Drive Stabilization System, along with other components, to enhance the performance of these combat vehicles.

The system will ensure that the Boxer Heavy Weapon Carrier and Lynx IFV can maintain target accuracy and turret stability, even at high speeds, while also offering flexibility for future upgrades as mission requirements evolve.

Also Read: NIO Q4 Earnings: Revenue & EPS Miss, 45% Delivery Growth, Margin Gains And More

The contract covers deliveries through 2029 for the German Army’s Boxer vehicles and through 2027 for the Hungarian MoD’s Lynx vehicles. Curtiss-Wright’s state-of-the-art modular TDSS, hand controllers, and equipment will be manufactured in its Swiss facility, with Phase 2 of the Lynx contract involving production in both Switzerland and Australia.

Lynn M. Bamford, CEO of Curtiss-Wright ( CW ), expressed pride in the company’s selection by Rheinmetall ( RNMBF ), noting that the contracts reflect growing demand for the company’s turret drive technology, fueled by NATO spending increases and rising global defense threats.

“These contracts demonstrate the growing demand for our turret drive aiming and stabilization technology in support of vital European combat vehicles,” Bamford said.

According to Benzinga Pro, CW stock has gained over 32% in the past year. Investors can gain exposure to the stock via ETF Series Solutions Bahl & Gaynor Small Cap Dividend ETF and Gabelli Commercial Aerospace and Defense ETF ( GCAD ) .

Price Action: CW shares are trading higher by 0.78% to $329.99 premarket at last check Friday.

Also Read:

• US Stocks Likely To Open Lower, But ‘Economic Conditions Don’t Signal A Downturn,’ Say Analysts As They Expect ‘Resilient Earnings’ To Lift Equities

Image via Shutterstock.